Is Berkeley Springs, WV 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, Berkeley Springs has remained a Seller's Market.
Key Takeaway
Berkeley Springs is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Berkeley Springs, WV
How much do homes in Berkeley Springs, WV cost?
Median Sold Price
$310,000
$176/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Berkeley Springs have sold for 8.2% more than they did a year ago.
Summary: The median home sold price in Berkeley Springs was $310,000 in April 2024, up 8.2% from last year, and the median price per square foot was $176.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $130K | $143.7K | +10.6% |
| 2 Bedrooms | $244.9K | $225K | -8.1% |
| 3 Bedrooms | $277.5K | $310K | +11.7% |
| 4 Bedrooms | $385.7K | $360K | -6.7% |
| 5+ Bedrooms | $485K | $310K | -36.1% |
Summary: Berkeley Springs housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.6%, 2 bedroom homes decreased by 8.1%, 3 bedroom homes increased by 11.7%, 4 bedroom homes decreased by 6.7%, and 5+ bedroom homes decreased by 36.1%.
Median Sold Price Compared To Nearby Cities
| Gainesboro | $365K | $429.5K | +17.7% |
| Berkeley Springs | $286.5K | $310K | +8.2% |
| Valley | $279K | $299.9K | +7.5% |
| Great Cacapon | $329K | $270K | -17.9% |
Housing Supply in Berkeley Springs, WV
How many homes are available in Berkeley Springs, WV?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 60 | 67 | +11.7% |
Summary: The Berkeley Springs real estate market had 67 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 | 1 | 0 | -100.0% |
| 2 Bedrooms | 10 | 9 | -10.0% |
| 3 Bedrooms | 29 | 34 | +17.2% |
| 4 Bedrooms | 18 | 18 | 0.0% |
| 5+ Bedrooms | 2 | 6 | +200.0% |
Summary: The Berkeley Springs housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 10%, 3 bedroom homes increased by 17.2%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 200%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 12 | 18 | +50.0% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
4 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. 61.1% of homes here sold below asking price last month.
Summary: A total of 18 homes were sold or pending in Berkeley Springs in April 2024, up by 50.0% month-over-month. Of the 18 sold homes, 61% were sold under asking, 17% were sold at asking, and 22% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 64 Days | 53 Days | -17.3% |
Summary: Homes in Berkeley Springs had an average of 53 days on market in Apr 2024, down by 17.3% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
4 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 April 2024, 18 homes were sold in Berkeley Springs; 56% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.
