Is Berkeley, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Berkeley has remained a Seller's Market.
Housing Prices in Berkeley, CA
How much do homes in Berkeley, CA cost?
Median Sold Price
$1,367,200
$898/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Berkeley was $1,367,200 in May 2024, down 8.9% from last year, and the median price per square foot was $898.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $767.5K | $674K | -12.2% |
2 Bedrooms | $1.2M | $1.1M | -10.5% |
3 Bedrooms | $1.5M | $1.5M | -3.0% |
4 Bedrooms | $2.0M | $1.8M | -7.1% |
5+ Bedrooms | $2.2M | $2.4M | +7.9% |
Summary: Berkeley housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 12.2%, 2 bedroom homes decreased by 10.5%, 3 bedroom homes decreased by 3%, 4 bedroom homes decreased by 7.1%, and 5+ bedroom homes increased by 7.9%.
Median Sold Price Compared To Nearby Cities
Emeryville | $672K | $700K | +4.2% |
Briones | $913.5K | $920K | +0.7% |
Oakland | $888.1K | $877.5K | -1.2% |
Albany | $1.1M | $1.0M | -4.0% |
Berkeley | $1.5M | $1.3M | -8.9% |
Housing Supply in Berkeley, CA
How many homes are available in Berkeley, CA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
159 | 169 | +6.3% |
Summary: The Berkeley real estate market had 169 homes for sale in May 2024, a 6.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 12 | 13 | +8.3% |
2 Bedrooms | 51 | 45 | -11.8% |
3 Bedrooms | 46 | 53 | +15.2% |
4 Bedrooms | 30 | 44 | +46.7% |
5+ Bedrooms | 20 | 14 | -30.0% |
Summary: The Berkeley housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 8.3%, 2 bedroom homes decreased by 11.8%, 3 bedroom homes increased by 15.2%, 4 bedroom homes increased by 46.7%, and 5+ bedroom homes decreased by 30%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
61 | 63 | +3.3% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
53 Homes Were Sold
Over Asking
Summary: A total of 63 homes were sold or pending in Berkeley in May 2024, up by 3.3% month-over-month. Of the 61 sold homes, 10% were sold under asking, 3% were sold at asking, and 87% were sold over asking.
Days on Market for Berkeley, CA
How long does it take to sell a home in Berkeley, CA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
19 Days | 19 Days | -1.9% |
Summary: Homes in Berkeley had an average of 19 days on market in May 2024, down by 1.9% compared to last year.
Breakdown of Home Sale Times
51 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 63 homes were sold in Berkeley; 81% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.