$10,000 Closing Credit*
$2,495,000
Shahin Tabibzadeh, Listing Office: Bridges 8 Real Estate
Is Berkeley, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Berkeley has remained a Seller'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, CA
How much do homes in Berkeley, CA cost?
Median Sold Price
$1,405,000
$903/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$6,600(+0.5%)
Key Takeaway
The sold price of homes in Berkeley has remained the same since last year.
Summary: The median home sold price in Berkeley was $1,405,000 in November 2024, up 0.5% from last year, and the median price per square foot was $903.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $728K | $667.5K | -8.3% |
| 2 Bedrooms | $1.0M | $1.1M | +4.4% |
| 3 Bedrooms | $1.5M | $1.5M | 0.0% |
| 4 Bedrooms | $1.8M | $1.9M | +2.2% |
| 5+ Bedrooms | $2.2M | $2.2M | +1.3% |
Summary: Berkeley housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 8.3%, 2 bedroom homes increased by 4.4%, 3 bedroom homes did not change, 4 bedroom homes increased by 2.2%, and 5+ bedroom homes increased by 1.3%.
Median Sold Price Compared To Nearby Cities
| Berkeley | $1.3M | $1.4M | 0.5% |
| Oakland | $850.3K | $850K | 0% |
| Emeryville | $699.9K | $699.5K | -0.1% |
| Albany | $1.1M | $1.0M | -4.6% |
| Briones | $950K | $860K | -9.5% |
Housing Supply in Berkeley, CA
How many homes are available in Berkeley, CA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 167 | 130 | -22.2% |
Summary: The Berkeley real estate market had 130 homes for sale in November 2024, a 22.2% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 15 | 12 | -20.0% |
| 2 Bedrooms | 42 | 25 | -40.5% |
| 3 Bedrooms | 47 | 42 | -10.6% |
| 4 Bedrooms | 46 | 36 | -21.7% |
| 5+ Bedrooms | 17 | 15 | -11.8% |
Summary: The Berkeley housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 20%, 2 bedroom homes decreased by 40.5%, 3 bedroom homes decreased by 10.6%, 4 bedroom homes decreased by 21.7%, and 5+ bedroom homes decreased by 11.8%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 67 | 40 | -40.3% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
31 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Berkeley, you could pay more than the asking price. 81.6% of homes here sold above asking price last month.
Summary: A total of 40 homes were sold or pending in Berkeley in November 2024, down by 40.3% month-over-month. Of the 38 sold homes, 13% were sold under asking, 5% were sold at asking, and 82% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 21 Days | 26 Days | +23.2% |
Summary: Homes in Berkeley had an average of 26 days on market in Nov 2024, up by 23.2% compared to last year.
Breakdown of Home Sale Times
29 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Berkeley are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 40 homes were sold in Berkeley; 73% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
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