$3,563 Closing Credit*
$300,000
1,002 SqFt
3 Beds
•1 Full Bath
Megan DuMont, Listing Office: Keller Williams Advantage
Is Berkley, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 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
$322,800
$275/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$13,850(+4.5%)
Key Takeaway
Homes in Berkley have sold for 4.5% more than they did a year ago.
Summary: The median home sold price in Berkley was $322,800 in October 2024, up 4.5% from last year, and the median price per square foot was $275.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $110K | $145K | +31.8% |
| 2 Bedrooms | $229K | $235K | +2.6% |
| 3 Bedrooms | $311.1K | $327K | +5.1% |
| 4 Bedrooms | $420K | $456K | +8.6% |
| 5+ Bedrooms | $370.5K | $489.9K | +32.2% |
Summary: Berkley housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 31.8%, 2 bedroom homes increased by 2.6%, 3 bedroom homes increased by 5.1%, 4 bedroom homes increased by 8.6%, and 5+ bedroom homes increased by 32.2%.
Housing Supply in Berkley, MI
How many homes are available in Berkley, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 76 | 70 | -7.9% |
Summary: The Berkley real estate market had 70 homes for sale in October 2024, a 7.9% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 6 | 10 | +66.7% |
| 3 Bedrooms | 59 | 52 | -11.9% |
| 4 Bedrooms | 9 | 7 | -22.2% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Berkley housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 66.7%, 3 bedroom homes decreased by 11.9%, 4 bedroom homes decreased by 22.2%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 35 | 21 | -40.0% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Berkley, you could pay more than the asking price. 52.4% of homes here sold above asking price last month.
Summary: A total of 21 homes were sold or pending in Berkley in October 2024, down by 40.0% month-over-month. Of the 21 sold homes, 33% were sold under asking, 14% were sold at asking, and 52% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 12 Days | 18 Days | +44.2% |
Summary: Homes in Berkley had an average of 18 days on market in Oct 2024, up by 44.2% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 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 October 2024, 21 homes were sold in Berkley; 81% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS.