Is Berkeley, VA 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, Berkeley was a Buyer's Market.
Housing Prices in Berkeley, VA
How much do homes in Berkeley, VA cost?
Median Sold Price
$522,500
$210/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Berkeley was $522,500 in April 2024, up 2% from last year, and the median price per square foot was $210.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $266.2K | $276K | +3.7% |
3 Bedrooms | $380K | $454K | +19.5% |
4 Bedrooms | $700K | $590K | -15.7% |
5+ Bedrooms | $1.0M | $975K | -8.2% |
Summary: Berkeley 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 3.7%, 3 bedroom homes increased by 19.5%, 4 bedroom homes decreased by 15.7%, and 5+ bedroom homes decreased by 8.2%.
Median Sold Price Compared To Nearby Cities
Jamestown | $375K | $465K | +24.0% |
Powhatan | $422K | $469.9K | +11.4% |
Williamsburg | $442.5K | $480.2K | +8.5% |
Williamsburg | $455.7K | $482K | +5.8% |
Berkeley | $512.5K | $522.5K | +2.0% |
Housing Supply in Berkeley, VA
How many homes are available in Berkeley, VA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
94 | 105 | +11.7% |
Summary: The Berkeley real estate market had 105 homes for sale in April 2024, a 11.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 4 | +33.3% |
2 Bedrooms | 9 | 13 | +44.4% |
3 Bedrooms | 35 | 35 | 0.0% |
4 Bedrooms | 37 | 39 | +5.4% |
5+ Bedrooms | 10 | 14 | +40.0% |
Summary: The Berkeley housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes increased by 44.4%, 3 bedroom homes remained the same, 4 bedroom homes increased by 5.4%, and 5+ bedroom homes increased by 40%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
26 | 33 | +26.9% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 33 homes were sold or pending in Berkeley in April 2024, up by 26.9% month-over-month. Of the 9 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
25 Days | 24 Days | -4.0% |
Summary: Homes in Berkeley had an average of 24 days on market in Apr 2024, down by 4% compared to last year.
Breakdown of Home Sale Times
25 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During April 2024, 33 homes were sold in Berkeley; 76% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.