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
At the same time last year, Berkeley was a Buyer's Market.
Housing Prices in Berkeley, VA
How much do homes in Berkeley, VA cost?
Median Sold Price
$508,750
$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 $508,750 in March 2024, up 1.8% 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 | $250K | $288.5K | +15.4% |
3 Bedrooms | $421K | $454K | +7.8% |
4 Bedrooms | $647.5K | $590K | -8.9% |
5+ Bedrooms | $925K | $942.5K | +1.9% |
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 increased by 15.4%, 3 bedroom homes increased by 7.8%, 4 bedroom homes decreased by 8.9%, and 5+ bedroom homes increased by 1.9%.
Median Sold Price Compared To Nearby Cities
Jamestown | $405K | $453K | +11.9% |
Powhatan | $417.5K | $459.6K | +10.1% |
Williamsburg | $439.3K | $466.8K | +6.3% |
Williamsburg | $450.6K | $470K | +4.3% |
Berkeley | $500K | $508.7K | +1.8% |
Housing Supply in Berkeley, VA
How many homes are available in Berkeley, VA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
81 | 100 | +23.5% |
Summary: The Berkeley real estate market had 100 homes for sale in March 2024, a 23.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 3 | +50.0% |
2 Bedrooms | 4 | 10 | +150.0% |
3 Bedrooms | 26 | 34 | +30.8% |
4 Bedrooms | 38 | 43 | +13.2% |
5+ Bedrooms | 11 | 10 | -9.1% |
Summary: The Berkeley housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 150%, 3 bedroom homes increased by 30.8%, 4 bedroom homes increased by 13.2%, and 5+ bedroom homes decreased by 9.1%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
14 | 23 | +64.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 23 homes were sold or pending in Berkeley in March 2024, up by 64.3% month-over-month. Of the 5 sold homes, 20% were sold under asking, 20% were sold at asking, and 60% 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 |
---|---|---|
45 Days | 32 Days | -27.2% |
Summary: Homes in Berkeley had an average of 32 days on market in Mar 2024, down by 27.2% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 23 homes were sold in Berkeley; 65% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.