Is Berkeley, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Berkeley is a seller's market

Buyer's
Market

Difference Since May 2023

At the same time last year, Berkeley was a Buyer's Market.

Key Takeaway

Berkeley is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Berkeley, VA

How much do homes in Berkeley, VA cost?

Median Sold Price

$503,750

$208/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$3,750(+0.8%)

Key Takeaway

Homes in Berkeley have sold for 0.8% more than they did a year ago.

Summary: The median home sold price in Berkeley was $503,750 in May 2024, up 0.8% from last year, and the median price per square foot was $208.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 --
N/A
2 $266.2K$285K
+7.0%
3 $400.5K$397.5K
-0.7%
4 $595K$681K
+14.5%
5+ $912.5K$975K
+6.8%

Summary: Berkeley housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 7%, 3 bedroom homes decreased by 0.7%, 4 bedroom homes increased by 14.5%, and 5+ bedroom homes increased by 6.8%.

Median Sold Price Compared To Nearby Cities

Jamestown
+26.2%
Powhatan
+9.3%
Williamsburg
+3.9%
Williamsburg
+3.7%
Berkeley
+0.8%

Housing Supply in Berkeley, VA

How many homes are available in Berkeley, VA?

Number of Homes For Sale

Apr 2024May 2024CHANGE
104108+3.8%

Summary: The Berkeley real estate market had 108 homes for sale in May 2024, a 3.8% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 44
0.0%
2 1310
-23.1%
3 3437
+8.8%
4 3948
+23.1%
5+ 149
-35.7%

Summary: The Berkeley housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 23.1%, 3 bedroom homes increased by 8.8%, 4 bedroom homes increased by 23.1%, and 5+ bedroom homes decreased by 35.7%.

Number of Homes Sold

Apr 2024May 2024CHANGE
3830-21.1%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Berkeley, expect to pay close to the asking price. 45.5% of homes here sold near the asking price last month.

Summary: A total of 30 homes were sold or pending in Berkeley in May 2024, down by 21.1% month-over-month. Of the 11 sold homes, 27% were sold under asking, 45% were sold at asking, and 27% 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

May 2023May 2024CHANGE
11 Days19 Days+77.3%

Summary: Homes in Berkeley had an average of 19 days on market in May 2024, up by 77.3% compared to last year.

Breakdown of Home Sale Times

24 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Berkeley are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 30 homes were sold in Berkeley; 80% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

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MLS Disclaimers and Copyright

Based on information from Real Estate Information Network, Central Virginia Regional MLS, and BrightMLS for the period 06/01/2022 - 06/01/2024

IDXCopyright © 2024 REIN, Inc - All Rights Reserved. Information Deemed Reliable But Not Guaranteed.

The listing data relating to real estate for sale on this web site comes in part from the Real Estate Information Network Inc. (REIN) and has been authorized by participating listing Broker Members of REIN for display. REIN's listings are based upon Data submitted by its Broker Members, and REIN therefore makes no representation or warranty regarding the accuracy of the Data. All users of REIN's listings database should confirm the accuracy of the listing information directly with the listing agent.

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Some listings may be duplicated in the search results due to the co-mingling of listings from more than one multiple listing service. Should there be different listing information between the duplicated listings, user is advised to verify the accuracy of the listing information before making any financial decisions.

Some of these listings contain enhanced listing information including mapping from sources such as Google, Bing, Microsoft, Yahoo, WalkScore and others.

Some properties which appear for sale on this website have subsequently sold or may no longer be available. REIN updates its listings on a daily basis.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 6/1/2024, 9:20:34 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

IDX All or a portion of the multiple Listing information is provided by the Central Virginia Regional Multiple Listing Service, LLC, from a copyrighted compilation of Listings. IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All CVR MLS information provided is deemed reliable but is not guaranteed accurate. The compilation of Listings and each individual Listing are ©2024 Central Virginia Regional Multiple Listing Service,LLC. All rights reserved
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 6/1/2024, 9:20:33 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

IDX Information Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which participates, and is provided by BRIGHT through a licensing agreement.

The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on this website may no longer be available because they are under contract, have sold or are no longer being offered for sale. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. This home sale information is not to be construed as an appraisal and may not be used as such for any purpose.

BRIGHT MLS is the (or a) provider of this home sale information and has compiled content from various sources. Some properties represented may not have actually sold due to reporting errors. ©2024 BrightMLS. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 6/1/2024, 9:10:35 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

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