Is Berkeley, VA 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, Berkeley has remained a Buyer's Market.
Housing Prices in Berkeley, VA
How much do homes in Berkeley, VA cost?
Median Sold Price
$424,410
$208/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Berkeley was $424,410 in March 2024, down 0.7% from last year, and the median price per square foot was $208.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | - | $237.5K | N/A |
3 Bedrooms | $387.5K | $380K | -1.9% |
4 Bedrooms | $450K | $470.9K | +4.6% |
5+ Bedrooms | $556.5K | $492K | -11.6% |
Summary: Berkeley 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 did not change, 3 bedroom homes decreased by 1.9%, 4 bedroom homes increased by 4.6%, and 5+ bedroom homes decreased by 11.6%.
Median Sold Price Compared To Nearby Cities
Livingston | $447.4K | $549K | +22.7% |
Spotsylvania | $425K | $475.7K | +11.9% |
Lee Hill | $422.5K | $449.9K | +6.5% |
Berkeley | $427.2K | $424.4K | -0.7% |
Housing Supply in Berkeley, VA
How many homes are available in Berkeley, VA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
125 | 140 | +12.0% |
Summary: The Berkeley real estate market had 140 homes for sale in March 2024, a 12.0% 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 | 3 | 1 | -66.7% |
3 Bedrooms | 52 | 68 | +30.8% |
4 Bedrooms | 57 | 52 | -8.8% |
5+ Bedrooms | 13 | 19 | +46.2% |
Summary: The Berkeley 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 decreased by 66.7%, 3 bedroom homes increased by 30.8%, 4 bedroom homes decreased by 8.8%, and 5+ bedroom homes increased by 46.2%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
17 | 18 | +5.9% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 18 homes were sold or pending in Berkeley in March 2024, up by 5.9% month-over-month. Of the 18 sold homes, 33% were sold under asking, 22% were sold at asking, and 44% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
11 Days | 45 Days | +289.6% |
Summary: Homes in Berkeley had an average of 45 days on market in Mar 2024, up by 289.6% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Summary: During March 2024, 18 homes were sold in Berkeley; 67% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 28% of homes were sold over 90 days.