Is Berkeley, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Berkeley is a seller's market

Buyer's
Market

Difference Since June 2023

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

Key Takeaway

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

Housing Prices in Berkeley, VA

How much do homes in Berkeley, VA cost?

Median Sold Price

$425,000

$217/sqft

Based on all homes sold in the last 12 months.

Difference Since June 2023

+$8,000(+1.9%)

Key Takeaway

Homes in Berkeley have sold for 1.9% more than they did a year ago.

Summary: The median home sold price in Berkeley was $425,000 in June 2024, up 1.9% from last year, and the median price per square foot was $217.

Median Sold Price By Bedroom Count

# BEDSJun 2023Jun 2024CHANGE
1 --
N/A
2 -$225K
N/A
3 $380K$385K
+1.3%
4 $447.4K$468.5K
+4.7%
5+ $558K$478K
-14.3%

Summary: Berkeley housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 1.3%, 4 bedroom homes increased by 4.7%, and 5+ bedroom homes decreased by 14.3%.

Median Sold Price Compared To Nearby Cities

Livingston
+15.8%
Spotsylvania
+7.9%
Lee Hill
+6.7%
Berkeley
+1.9%

Housing Supply in Berkeley, VA

How many homes are available in Berkeley, VA?

Number of Homes For Sale

May 2024Jun 2024CHANGE
1021020.0%

Summary: The Berkeley real estate market had 102 homes for sale in June 2024, the same as May 2024.

Homes For Sale By Bedroom Count

# BEDSMay 2024Jun 2024CHANGE
1 00
0.0%
2 00
0.0%
3 3832
-15.8%
4 4450
+13.6%
5+ 2020
0.0%

Summary: The Berkeley 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 remained the same, 3 bedroom homes decreased by 15.8%, 4 bedroom homes increased by 13.6%, and 5+ bedroom homes remained the same.

Number of Homes Sold

May 2024Jun 2024CHANGE
3323-30.3%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

12 Homes Were Sold
At Asking

7 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Berkeley, expect to pay close to the asking price. 52.2% of homes here sold near the asking price last month.

Summary: A total of 23 homes were sold or pending in Berkeley in June 2024, down by 30.3% month-over-month. Of the 23 sold homes, 17% were sold under asking, 52% were sold at asking, and 30% were sold over asking.

Days on Market for Berkeley, VA

How long does it take to sell a home in Berkeley, VA?

Average Sale Time

Jun 2023Jun 2024CHANGE
15 Days36 Days+128.1%

Summary: Homes in Berkeley had an average of 36 days on market in Jun 2024, up by 128.1% compared to last year.

Breakdown of Home Sale Times

17 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During June 2024, 23 homes were sold in Berkeley; 74% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 9% 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 18 Days Ago

Newest Listings in Berkeley, VA

Nearby Markets to Berkeley, VA

What housing markets are near Berkeley, VA?