Is Berkeley, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Berkeley is a seller's market

Buyer's
Market

Difference Since June 2023

Since last year, Berkeley has remained a Seller'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, IL

How much do homes in Berkeley, IL cost?

Median Sold Price

$273,000

$228/sqft

Based on all homes sold in the last 12 months.

Difference Since June 2023

-$8,500(-3.0%)

Key Takeaway

Homes in Berkeley have sold for 3% less than they did a year ago.

Summary: The median home sold price in Berkeley was $273,000 in June 2024, down 3% from last year, and the median price per square foot was $228.

Median Sold Price By Bedroom Count

# BEDSJun 2023Jun 2024CHANGE
1 --
N/A
2 $219.5K$246.4K
+12.3%
3 $285K$282K
-1.1%
4 $292.5K$307.5K
+5.1%
5+ $362.5K-
N/A

Summary: Berkeley housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 12.3%, 3 bedroom homes decreased by 1.1%, 4 bedroom homes increased by 5.1%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Northlake
+14.0%
Hillside
+3.2%
Elmhurst
0.5%
Bellwood
0.0%
Berkeley
-3.0%

Housing Supply in Berkeley, IL

How many homes are available in Berkeley, IL?

Number of Homes For Sale

May 2024Jun 2024CHANGE
1411-21.4%

Summary: The Berkeley real estate market had 11 homes for sale in June 2024, a 21.4% decrease compared to May 2024.

Homes For Sale By Bedroom Count

# BEDSMay 2024Jun 2024CHANGE
1 00
0.0%
2 32
-33.3%
3 97
-22.2%
4 11
0.0%
5+ 11
0.0%

Summary: The Berkeley housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 33.3%, 3 bedroom homes decreased by 22.2%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

May 2024Jun 2024CHANGE
64-33.3%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Berkeley, you could pay more than the asking price. 75% of homes here sold above asking price last month.

Summary: A total of 4 homes were sold or pending in Berkeley in June 2024, down by 33.3% month-over-month. Of the 4 sold homes, 0% were sold under asking, 25% were sold at asking, and 75% were sold over asking.

Days on Market for Berkeley, IL

How long does it take to sell a home in Berkeley, IL?

Average Sale Time

Jun 2023Jun 2024CHANGE
16 Days5 Days-67.2%

Summary: Homes in Berkeley had an average of 5 days on market in Jun 2024, down by 67.2% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Berkeley are selling fast, if you're buying plan to act quickly.

Summary: During June 2024, 4 homes were sold in Berkeley; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 26 Days Ago

Newest Listings in Berkeley, IL

Nearby Markets to Berkeley, IL

What housing markets are near Berkeley, IL?