Is Berkeley, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Berkeley was a Buyer's Market.
Key Takeaway
Berkeley is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Berkeley, VA
How much do homes in Berkeley, VA cost?
Median Sold Price
$503,750
$208/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Berkeley have sold for 0.8% more than they did a year ago.
Summary: The median home sold price in Berkeley was $503,750 in May 2024, up 0.8% from last year, and the median price per square foot was $208.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $266.2K | $285K | +7.0% |
| 3 Bedrooms | $400.5K | $397.5K | -0.7% |
| 4 Bedrooms | $595K | $681K | +14.5% |
| 5+ Bedrooms | $912.5K | $975K | +6.8% |
Summary: Berkeley housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 7%, 3 bedroom homes decreased by 0.7%, 4 bedroom homes increased by 14.5%, and 5+ bedroom homes increased by 6.8%.
Median Sold Price Compared To Nearby Cities
| Jamestown | $368.5K | $465K | +26.2% |
| Powhatan | $429.9K | $469.9K | +9.3% |
| Williamsburg | $457K | $475K | +3.9% |
| Williamsburg | $457.8K | $475K | +3.7% |
| Berkeley | $500K | $503.7K | +0.8% |
Housing Supply in Berkeley, VA
How many homes are available in Berkeley, VA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 104 | 108 | +3.8% |
Summary: The Berkeley real estate market had 108 homes for sale in May 2024, a 3.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 4 | 0.0% |
| 2 Bedrooms | 13 | 10 | -23.1% |
| 3 Bedrooms | 34 | 37 | +8.8% |
| 4 Bedrooms | 39 | 48 | +23.1% |
| 5+ Bedrooms | 14 | 9 | -35.7% |
Summary: The Berkeley housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 23.1%, 3 bedroom homes increased by 8.8%, 4 bedroom homes increased by 23.1%, and 5+ bedroom homes decreased by 35.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 38 | 30 | -21.1% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Berkeley, expect to pay close to the asking price. 45.5% of homes here sold near the asking price last month.
Summary: A total of 30 homes were sold or pending in Berkeley in May 2024, down by 21.1% month-over-month. Of the 11 sold homes, 27% were sold under asking, 45% were sold at asking, and 27% were sold over asking.
Days on Market for Berkeley, VA
How long does it take to sell a home in Berkeley, VA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 11 Days | 19 Days | +77.3% |
Summary: Homes in Berkeley had an average of 19 days on market in May 2024, up by 77.3% compared to last year.
Breakdown of Home Sale Times
24 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Berkeley are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 30 homes were sold in Berkeley; 80% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
Copyright © 2024 REIN, Inc - All Rights Reserved. Information Deemed Reliable But Not Guaranteed. 
All or a portion of the multiple Listing information is provided by the Central Virginia Regional Multiple Listing Service, LLC, from a copyrighted compilation of Listings. IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All CVR MLS information provided is deemed reliable but is not guaranteed accurate. The compilation of Listings and each individual Listing are ©2024 Central Virginia Regional Multiple Listing Service,LLC. All rights reserved
Information Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which participates, and is provided by BRIGHT through a licensing agreement.