Is Berlin, MD a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Berlin is a neutral's market

Buyer's
Market

Difference Since May 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

$425,000

$253/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

-$5,000(-1.2%)

Key Takeaway

Homes in Berlin have sold for 1.2% less than they did a year ago.

Summary: The median home sold price in Berlin was $425,000 in May 2024, down 1.2% from last year, and the median price per square foot was $253.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 -$125K
N/A
2 $220K$320K
+45.5%
3 $367.2K$392.5K
+6.9%
4 $565K$539K
-4.6%
5+ $810K$849.9K
+4.9%

Summary: Berlin 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 45.5%, 3 bedroom homes increased by 6.9%, 4 bedroom homes decreased by 4.6%, and 5+ bedroom homes increased by 4.9%.

Housing Supply in Berlin, MD

How many homes are available in Berlin, MD?

Number of Homes For Sale

Apr 2024May 2024CHANGE
215255+18.6%

Summary: The Berlin real estate market had 255 homes for sale in May 2024, a 18.6% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 1516
+6.7%
3 121145
+19.8%
4 6067
+11.7%
5+ 1927
+42.1%

Summary: The Berlin 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 increased by 6.7%, 3 bedroom homes increased by 19.8%, 4 bedroom homes increased by 11.7%, and 5+ bedroom homes increased by 42.1%.

Number of Homes Sold

Apr 2024May 2024CHANGE
3140+29.0%

Asking Price vs. Sold Price

21 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

13 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Berlin, you may be able to get a good deal. 52.5% of homes here sold below asking price last month.

Summary: A total of 40 homes were sold or pending in Berlin in May 2024, up by 29.0% month-over-month. Of the 40 sold homes, 53% were sold under asking, 15% were sold at asking, and 33% 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

May 2023May 2024CHANGE
36 Days31 Days-15.2%

Summary: Homes in Berlin had an average of 31 days on market in May 2024, down by 15.2% compared to last year.

Breakdown of Home Sale Times

28 Homes Were Sold
Under 30 Days

8 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 40 homes were sold in Berlin; 70% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 10% 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 16 Days Ago

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