Is Berkeley Springs, WV 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 Springs has remained a Buyer's Market.
Key Takeaway
Berkeley Springs is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Berkeley Springs, WV
How much do homes in Berkeley Springs, WV cost?
Median Sold Price
$316,500
$178/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Berkeley Springs have sold for 17.2% more than they did a year ago.
Summary: The median home sold price in Berkeley Springs was $316,500 in March 2024, up 17.2% from last year, and the median price per square foot was $178.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $130K | $143.7K | +10.6% |
| 2 Bedrooms | $228.5K | $227.4K | -0.5% |
| 3 Bedrooms | $270K | $319K | +18.1% |
| 4 Bedrooms | $385.7K | $350K | -9.3% |
| 5+ Bedrooms | $485K | $310K | -36.1% |
Summary: Berkeley Springs housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.6%, 2 bedroom homes decreased by 0.5%, 3 bedroom homes increased by 18.1%, 4 bedroom homes decreased by 9.3%, and 5+ bedroom homes decreased by 36.1%.
Median Sold Price Compared To Nearby Cities
| Berkeley Springs | $270K | $316.5K | +17.2% |
| Gainesboro | $365K | $419.9K | +15.0% |
| Valley | $277.7K | $299.9K | +8.0% |
| Great Cacapon | $310K | $270K | -12.9% |
Housing Supply in Berkeley Springs, WV
How many homes are available in Berkeley Springs, WV?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 116 | 108 | -6.9% |
Summary: The Berkeley Springs real estate market had 108 homes for sale in March 2024, a 6.9% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 4 | +33.3% |
| 2 Bedrooms | 20 | 18 | -10.0% |
| 3 Bedrooms | 65 | 59 | -9.2% |
| 4 Bedrooms | 22 | 21 | -4.5% |
| 5+ Bedrooms | 6 | 6 | 0.0% |
Summary: The Berkeley Springs housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes decreased by 10%, 3 bedroom homes decreased by 9.2%, 4 bedroom homes decreased by 4.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 19 | 11 | -42.1% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Berkeley Springs, you may be able to get a good deal. 54.5% of homes here sold below asking price last month.
Summary: A total of 11 homes were sold or pending in Berkeley Springs in March 2024, down by 42.1% month-over-month. Of the 11 sold homes, 55% were sold under asking, 18% were sold at asking, and 27% were sold over asking.
Days on Market for Berkeley Springs, WV
How long does it take to sell a home in Berkeley Springs, WV?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 50 Days | 23 Days | -53.7% |
Summary: Homes in Berkeley Springs had an average of 23 days on market in Mar 2024, down by 53.7% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Berkeley Springs are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 11 homes were sold in Berkeley Springs; 73% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
