Is Berkley, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Berkley is a seller's market

Buyer's
Market

Difference Since September 2021

Since last year, Berkley has remained a Seller's Market.

Key Takeaway

Berkley is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in Berkley, MI cost?

Median Sold Price

$285,000

$257/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2021

+$15,000(+5.6%)

Key Takeaway

Homes in Berkley have sold for 5.6% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSSep 2021Sep 2022%
1 --
N/A
2 $204.5K$224.4K
+9.8%
3 $280K$299K
+6.8%
4 $430K$425K
-1.2%
5+ $416K$338.5K
-18.6%

Median Sold Price Compared To Nearby Cities

Royal Oak
+12.7%
Oak Park
+12.6%
Southfield
+7.8%
Berkley
+5.6%
Huntington Woods
-7.9%

How many homes are available in Berkley, MI?

Number of Homes For Sale

Aug 2022Sep 2022%
9497+3.2%

Homes For Sale By Bedroom Count

# BEDSAug 2022Sep 2022%
1 00
0.0%
2 1214
+16.7%
3 6769
+3.0%
4 1111
0.0%
5+ 43
-25.0%

Number of Homes Sold

Aug 2022Sep 2022%
2934+17.2%

Asking Price vs. Sold Price

14 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

13 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Berkley, you may be able to get a good deal. 41.2% of homes here sold below asking price last month.

Average Sale Time

Sep 2021Sep 2022%
22 Days21 Days-3.9%

Breakdown of Home Sale Times

24 Homes Were Sold
Under 30 Days

10 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Berkley 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 Berkley, MI

Homes for sale in Berkley, MI have reached 97. The inventory of homes for sale in Berkley, MI between August 2022 and September 2022 increased by 3.2%. Listings spent 21 days on the market in September 2022, and had a median list price of $285,000 during the same period. Between August 2022 and September 2022, listing prices of homes in this real estate market have seen the following changes: 1 bedroom properties prices increased by 0%, prices of 2 bedrooms properties increased by 9.8%, prices of 3 bedrooms properties went up by 6.8%, the cost of 4 bedrooms properties went down by 1.2%, prices of 5 bedrooms properties went down by 18.6%. Housing inventory have changed in this real estate market: volume of 1 bedroom homes stayed the same, 2 bedrooms homes inventory increased by 16.7%, 3 bedrooms homes inventory increased by 3%, number of 4 bedrooms homes remained the same, 5 bedrooms homes inventory decreased by 25%. Over 13 listings were sold over their listed price in September 2022 in Berkley, MI. In the same period over 14 listings were sold below the listed price and 7 listings were sold for the listed price.

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