Is Berlin, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
At the same time last year, Berlin was a Seller's Market.
Key Takeaway
Berlin 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 Berlin, MD
How much do homes in Berlin, MD cost?
Median Sold Price
$430,333
$252/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Key Takeaway
Homes in Berlin have sold for 1.9% more than they did a year ago.
Summary: The median home sold price in Berlin was $430,333 in June 2024, up 1.9% from last year, and the median price per square foot was $252.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $125K | $133K | +6.4% |
| 2 Bedrooms | $290K | $316.7K | +9.2% |
| 3 Bedrooms | $377.1K | $397.8K | +5.5% |
| 4 Bedrooms | $565K | $539K | -4.6% |
| 5+ Bedrooms | $808.2K | $850K | +5.2% |
Summary: Berlin housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.4%, 2 bedroom homes increased by 9.2%, 3 bedroom homes increased by 5.5%, 4 bedroom homes decreased by 4.6%, and 5+ bedroom homes increased by 5.2%.
Housing Supply in Berlin, MD
How many homes are available in Berlin, MD?
Number of Homes For Sale
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 232 | 228 | -1.7% |
Summary: The Berlin real estate market had 228 homes for sale in June 2024, a 1.7% decrease compared to May 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 12 | 15 | +25.0% |
| 3 Bedrooms | 131 | 118 | -9.9% |
| 4 Bedrooms | 65 | 63 | -3.1% |
| 5+ Bedrooms | 24 | 32 | +33.3% |
Summary: The Berlin 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 increased by 25%, 3 bedroom homes decreased by 9.9%, 4 bedroom homes decreased by 3.1%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 62 | 37 | -40.3% |
Asking Price vs. Sold Price
22 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Berlin, you may be able to get a good deal. 59.5% of homes here sold below asking price last month.
Summary: A total of 37 homes were sold or pending in Berlin in June 2024, down by 40.3% month-over-month. Of the 37 sold homes, 59% were sold under asking, 27% were sold at asking, and 14% were sold over asking.
Days on Market for Berlin, MD
How long does it take to sell a home in Berlin, MD?
Average Sale Time
| Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|
| 30 Days | 46 Days | +54.1% |
Summary: Homes in Berlin had an average of 46 days on market in Jun 2024, up by 54.1% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
16 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Berlin are selling fast, if you're buying plan to act quickly.
Summary: During June 2024, 37 homes were sold in Berlin; 51% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
