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 October 2021

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.

How much do homes in Berkeley, IL cost?

Median Sold Price

$264,750

$212/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2021

+$18,750(+7.6%)

Key Takeaway

Homes in Berkeley have sold for 7.6% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSOct 2021Oct 2022%
1 --
N/A
2 $200K$217.4K
+8.7%
3 $250K$270K
+8.0%
4 $246.2K$301K
+22.2%
5+ $265K-
N/A

Median Sold Price Compared To Nearby Cities

Elmhurst
+11.7%
Bellwood
+11.1%
Berkeley
+7.6%
Hillside
+6.1%
Northlake
+2.2%

How many homes are available in Berkeley, IL?

Number of Homes For Sale

Sep 2022Oct 2022%
2227+22.7%

Homes For Sale By Bedroom Count

# BEDSSep 2022Oct 2022%
1 00
0.0%
2 45
+25.0%
3 1115
+36.4%
4 55
0.0%
5+ 22
0.0%

Number of Homes Sold

Sep 2022Oct 2022%
16+500.0%

Asking Price vs. Sold Price

2 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. 50% of homes here sold above asking price last month.

Average Sale Time

Oct 2021Oct 2022%
9 Days39 Days+338.9%

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

2 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.

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

About Berkeley, IL

Number of homes for sale in Berkeley, IL real estate market have reached 27. Between September 2022 and October 2022, Berkeley, IL real estate market has seen increase in the number of listings by 22.7%. While the average time on the market in October 2022 was 39 days, the median list price was $264,750. From September 2022 through October 2022, the following changes in listing prices were observed in this housing market: 1 bedroom properties became 0% more expensive, 2 bedrooms properties became 8.7% more expensive, prices of 3 bedrooms properties increased by 8%, prices of 4 bedrooms properties went up by 22.2%, the cost of 5 bedrooms properties went up by 0%. This housing market inventory have changed: 1 bedroom homes did not move, number of 2 bedrooms homes increased by 25%, 3 bedrooms homes became 36.4% more available, number of 4 bedrooms homes remained the same, volume of 5 bedrooms homes stayed the same. While more than 3 listings in Berkeley, IL in October 2022 were sold above asking price, there were more than 1 listings sold at asking price, and more than 2 were sold below.

Related Housing Market Reports