Is Berkley, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Berkley has remained a Seller's Market.
Housing Prices in Berkley, MI
How much do homes in Berkley, MI cost?
Median Sold Price
$323,000
$277/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Berkley was $323,000 in April 2024, up 7.7% from last year, and the median price per square foot was $277.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $130K | N/A |
2 Bedrooms | $229K | $235K | +2.6% |
3 Bedrooms | $310K | $329K | +6.1% |
4 Bedrooms | $422.5K | $402.5K | -4.7% |
5+ Bedrooms | $340K | $602.5K | +77.2% |
Summary: Berkley 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 2.6%, 3 bedroom homes increased by 6.1%, 4 bedroom homes decreased by 4.7%, and 5+ bedroom homes increased by 77.2%.
Housing Supply in Berkley, MI
How many homes are available in Berkley, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
45 | 57 | +26.7% |
Summary: The Berkley real estate market had 57 homes for sale in April 2024, a 26.7% 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 | 9 | -10.0% |
3 Bedrooms | 31 | 41 | +32.3% |
4 Bedrooms | 3 | 6 | +100.0% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Berkley 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 decreased by 10%, 3 bedroom homes increased by 32.3%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
21 | 16 | -23.8% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
11 Homes Were Sold
Over Asking
Summary: A total of 16 homes were sold or pending in Berkley in April 2024, down by 23.8% month-over-month. Of the 16 sold homes, 25% were sold under asking, 6% were sold at asking, and 69% were sold over asking.
Days on Market for Berkley, MI
How long does it take to sell a home in Berkley, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
95 Days | 22 Days | -76.7% |
Summary: Homes in Berkley had an average of 22 days on market in Apr 2024, down by 76.7% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 16 homes were sold in Berkley; 81% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.