$3,444 Closing Credit*
$290,000
984 SqFt
3 Beds
•1 Full Bath
Phillip S Ausman, Listing Office: Remerica Integrity II
Is Berkley, MI 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, Berkley has remained a Seller's Market.
Key Takeaway
Berkley is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Berkley, MI
How much do homes in Berkley, MI cost?
Median Sold Price
$319,333
$207/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$7,333(+2.4%)
Key Takeaway
Homes in Berkley have sold for 2.4% more than they did a year ago.
Summary: The median home sold price in Berkley was $319,333 in November 2024, up 2.4% from last year, and the median price per square foot was $207.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $110K | $145K | +31.8% |
| 2 Bedrooms | $229K | $230K | 0.4% |
| 3 Bedrooms | $318K | $325K | +2.2% |
| 4 Bedrooms | $429K | $414.5K | -3.4% |
| 5+ Bedrooms | $322.7K | $489.9K | +51.8% |
Summary: Berkley housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 31.8%, 2 bedroom homes increased by 0.4%, 3 bedroom homes increased by 2.2%, 4 bedroom homes decreased by 3.4%, and 5+ bedroom homes increased by 51.8%.
Housing Supply in Berkley, MI
How many homes are available in Berkley, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 73 | 66 | -9.6% |
Summary: The Berkley real estate market had 66 homes for sale in November 2024, a 9.6% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 9 | 9 | 0.0% |
| 3 Bedrooms | 56 | 50 | -10.7% |
| 4 Bedrooms | 7 | 7 | 0.0% |
| 5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The Berkley housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 10.7%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 23 | 28 | +21.7% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Berkley, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 28 homes were sold or pending in Berkley in November 2024, up by 21.7% month-over-month. Of the 28 sold homes, 50% were sold under asking, 14% were sold at asking, and 36% were sold over asking.
Days on Market for Berkley, MI
How long does it take to sell a home in Berkley, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 27 Days | 24 Days | -11.4% |
Summary: Homes in Berkley had an average of 24 days on market in Nov 2024, down by 11.4% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Berkley are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 28 homes were sold in Berkley; 68% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
