Is Berea, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Berea was a Seller's Market.
Key Takeaway
Berea is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Berea, MD
How much do homes in Berea, MD cost?
Median Sold Price
$149,900
$111/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Berea have sold for 24.9% more than they did a year ago.
Summary: The median home sold price in Berea was $149,900 in April 2024, up 24.9% from last year, and the median price per square foot was $111.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $89.6K | $110K | +22.6% |
| 3 Bedrooms | $102.3K | $152.5K | +49.0% |
| 4 Bedrooms | $153.4K | $199.9K | +30.3% |
| 5+ Bedrooms | $124.5K | $155K | +24.5% |
Summary: Berea housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 22.6%, 3 bedroom homes increased by 49%, 4 bedroom homes increased by 30.3%, and 5+ bedroom homes increased by 24.5%.
Median Sold Price Compared To Nearby Neighborhoods
| Four by Four | $77K | $105K | +36.4% |
| Berea | $120K | $149.9K | +24.9% |
| East | $140K | $124K | -11.5% |
| Broadway East | $86K | $63K | -26.7% |
Housing Supply in Berea, MD
How many homes are available in Berea, MD?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 36 | 33 | -8.3% |
Summary: The Berea real estate market had 33 homes for sale in April 2024, a 8.3% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 5 | 4 | -20.0% |
| 3 Bedrooms | 22 | 20 | -9.1% |
| 4 Bedrooms | 5 | 7 | +40.0% |
| 5+ Bedrooms | 4 | 2 | -50.0% |
Summary: The Berea housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 20%, 3 bedroom homes decreased by 9.1%, 4 bedroom homes increased by 40%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 10 | 5 | -50.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Berea, expect to pay close to the asking price. 60% of homes here sold near the asking price last month.
Summary: A total of 5 homes were sold or pending in Berea in April 2024, down by 50.0% month-over-month. Of the 5 sold homes, 0% were sold under asking, 60% were sold at asking, and 40% were sold over asking.
Days on Market for Berea, MD
How long does it take to sell a home in Berea, MD?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 19 Days | 39 Days | +100.0% |
Summary: Homes in Berea had an average of 39 days on market in Apr 2024, up by 100% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Berea has remained consistent over time.
Summary: During April 2024, 5 homes were sold in Berea; 40% of homes were sold within 30 days, 60% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
