$5,878 Closing Credit*
$495,000
2,443 SqFt
3 Beds
•2 Full Baths, 1 Partial
Courtney Martinez, Listing Office: Long & Foster Real Estate
Is Berkeley, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 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
$550,000
$218/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$85,000(+18.3%)
Key Takeaway
Homes in Berkeley have sold for 18.3% more than they did a year ago.
Summary: The median home sold price in Berkeley was $550,000 in October 2024, up 18.3% from last year, and the median price per square foot was $218.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $267K | $297.5K | +11.4% |
| 3 Bedrooms | $365K | $447.5K | +22.6% |
| 4 Bedrooms | $500K | $710K | +42.0% |
| 5+ Bedrooms | $837.5K | $1.1M | +38.2% |
Summary: Berkeley housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 11.4%, 3 bedroom homes increased by 22.6%, 4 bedroom homes increased by 42%, and 5+ bedroom homes increased by 38.2%.
Median Sold Price Compared To Nearby Cities
| Jamestown | $405.2K | $515K | +27.1% |
| Berkeley | $465K | $550K | +18.3% |
| Williamsburg | $457.5K | $506.8K | +10.8% |
| Williamsburg | $460.2K | $509.5K | +10.7% |
| Powhatan | $465K | $495.4K | +6.6% |
Housing Supply in Berkeley, VA
How many homes are available in Berkeley, VA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 116 | 125 | +7.8% |
Summary: The Berkeley real estate market had 125 homes for sale in October 2024, a 7.8% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 10 | 13 | +30.0% |
| 3 Bedrooms | 41 | 45 | +9.8% |
| 4 Bedrooms | 49 | 53 | +8.2% |
| 5+ Bedrooms | 13 | 11 | -15.4% |
Summary: The Berkeley housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 30%, 3 bedroom homes increased by 9.8%, 4 bedroom homes increased by 8.2%, and 5+ bedroom homes decreased by 15.4%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 23 | 23 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
4 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Berkeley, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 23 homes were sold or pending in Berkeley in October 2024, the same as the previous month. Of the 8 sold homes, 13% were sold under asking, 50% were sold at asking, and 38% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 52 Days | 31 Days | -40.1% |
Summary: Homes in Berkeley had an average of 31 days on market in Oct 2024, down by 40.1% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Berkeley are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 23 homes were sold in Berkeley; 65% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
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