Is Berkley, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Berkley has remained a Seller's Market.
Housing Prices in Berkley, MI
How much do homes in Berkley, MI cost?
Median Sold Price
$319,500
$275/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Berkley was $319,500 in March 2024, up 6.5% from last year, and the median price per square foot was $275.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $130K | N/A |
2 Bedrooms | $229K | $235K | +2.6% |
3 Bedrooms | $310K | $325K | +4.8% |
4 Bedrooms | $420K | $407K | -3.1% |
5+ Bedrooms | $340K | $542.7K | +59.6% |
Summary: Berkley housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 2.6%, 3 bedroom homes increased by 4.8%, 4 bedroom homes decreased by 3.1%, and 5+ bedroom homes increased by 59.6%.
Housing Supply in Berkley, MI
How many homes are available in Berkley, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
44 | 45 | +2.3% |
Summary: The Berkley real estate market had 45 homes for sale in March 2024, a 2.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 5 | 10 | +100.0% |
3 Bedrooms | 33 | 31 | -6.1% |
4 Bedrooms | 5 | 3 | -40.0% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Berkley housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes decreased by 6.1%, 4 bedroom homes decreased by 40%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
13 | 18 | +38.5% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
9 Homes Were Sold
Over Asking
Summary: A total of 18 homes were sold or pending in Berkley in March 2024, up by 38.5% month-over-month. Of the 18 sold homes, 44% were sold under asking, 6% were sold at asking, and 50% were sold over asking.
Days on Market for Berkley, MI
How long does it take to sell a home in Berkley, MI?
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 18 homes were sold in Berkley; 78% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.