Is Berlin, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Berlin was a Seller's Market.
Key Takeaway
Berlin is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Berlin, MD
How much do homes in Berlin, MD cost?
Median Sold Price
$429,945
$253/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Berlin have sold for 6.4% more than they did a year ago.
Summary: The median home sold price in Berlin was $429,945 in April 2024, up 6.4% from last year, and the median price per square foot was $253.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $125K | N/A |
| 2 Bedrooms | $224K | $318.7K | +42.3% |
| 3 Bedrooms | $360K | $396.5K | +10.2% |
| 4 Bedrooms | $541.4K | $560K | +3.4% |
| 5+ Bedrooms | $802.7K | $849.9K | +5.9% |
Summary: Berlin housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 42.3%, 3 bedroom homes increased by 10.2%, 4 bedroom homes increased by 3.4%, and 5+ bedroom homes increased by 5.9%.
Housing Supply in Berlin, MD
How many homes are available in Berlin, MD?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 193 | 214 | +10.9% |
Summary: The Berlin real estate market had 214 homes for sale in April 2024, a 10.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 10 | 15 | +50.0% |
| 3 Bedrooms | 113 | 121 | +7.1% |
| 4 Bedrooms | 56 | 59 | +5.4% |
| 5+ Bedrooms | 14 | 19 | +35.7% |
Summary: The Berlin housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 7.1%, 4 bedroom homes increased by 5.4%, and 5+ bedroom homes increased by 35.7%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 43 | 32 | -25.6% |
Asking Price vs. Sold Price
16 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Berlin, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 32 homes were sold or pending in Berlin in April 2024, down by 25.6% month-over-month. Of the 32 sold homes, 50% were sold under asking, 34% were sold at asking, and 16% were sold over asking.
Days on Market for Berlin, MD
How long does it take to sell a home in Berlin, MD?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 37 Days | 39 Days | +4.9% |
Summary: Homes in Berlin had an average of 39 days on market in Apr 2024, up by 4.9% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Berlin are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 32 homes were sold in Berlin; 59% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
