Is Berkeley Springs, WV a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Berkeley Springs was a Seller's Market.
Key Takeaway
Berkeley Springs is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Berkeley Springs, WV
How much do homes in Berkeley Springs, WV cost?
Median Sold Price
$310,000
$175/sqft
Based on all homes sold in the last 12 months.
Difference Since May 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 May 2024, up 8.2% from last year, and the median price per square foot was $175.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $130K | $143.7K | +10.6% |
| 2 Bedrooms | $235K | $212K | -9.8% |
| 3 Bedrooms | $294K | $302.5K | +2.9% |
| 4 Bedrooms | $321K | $374.9K | +16.8% |
| 5+ Bedrooms | $485K | $310K | -36.1% |
Summary: Berkeley Springs housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.6%, 2 bedroom homes decreased by 9.8%, 3 bedroom homes increased by 2.9%, 4 bedroom homes increased by 16.8%, and 5+ bedroom homes decreased by 36.1%.
Median Sold Price Compared To Nearby Cities
| Gainesboro | $374.9K | $429K | +14.4% |
| Berkeley Springs | $286.5K | $310K | +8.2% |
| Valley | $280K | $300K | +7.1% |
| Great Cacapon | $332K | $270K | -18.7% |
Housing Supply in Berkeley Springs, WV
How many homes are available in Berkeley Springs, WV?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 64 | 70 | +9.4% |
Summary: The Berkeley Springs real estate market had 70 homes for sale in May 2024, a 9.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 10 | 11 | +10.0% |
| 3 Bedrooms | 32 | 42 | +31.3% |
| 4 Bedrooms | 16 | 11 | -31.3% |
| 5+ Bedrooms | 6 | 5 | -16.7% |
Summary: The Berkeley Springs housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 10%, 3 bedroom homes increased by 31.3%, 4 bedroom homes decreased by 31.3%, and 5+ bedroom homes decreased by 16.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 18 | 3 | -83.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Berkeley Springs, expect to pay close to the asking price. 66.7% of homes here sold near the asking price last month.
Summary: A total of 3 homes were sold or pending in Berkeley Springs in May 2024, down by 83.3% month-over-month. Of the 3 sold homes, 33% were sold under asking, 67% were sold at asking, and 0% 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
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 46 Days | 42 Days | -9.4% |
Summary: Homes in Berkeley Springs had an average of 42 days on market in May 2024, down by 9.4% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Berkeley Springs are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 3 homes were sold in Berkeley Springs; 67% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
