$5,926 Closing Credit*
$499,000
2,275 SqFt
3 Beds
•2 Full Baths, 1 Partial
#10563419, Anna Boyer, Listing Office: Howard Hanna Real Estate Svcs.
Is Berkeley, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 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
$214/sqft
Based on all homes sold in the last 12 months.
Difference Since November 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 November 2024, up 18.3% from last year, and the median price per square foot was $214.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $288.5K | $285K | -1.2% |
| 3 Bedrooms | $365K | $428.5K | +17.4% |
| 4 Bedrooms | $547K | $710K | +29.8% |
| 5+ Bedrooms | $837.5K | $1.3M | +55.2% |
Summary: Berkeley housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 1.2%, 3 bedroom homes increased by 17.4%, 4 bedroom homes increased by 29.8%, and 5+ bedroom homes increased by 55.2%.
Median Sold Price Compared To Nearby Cities
| Jamestown | $390K | $510.5K | +30.9% |
| Berkeley | $465K | $550K | +18.3% |
| Williamsburg | $445.6K | $501.2K | +12.5% |
| Williamsburg | $451.6K | $505.3K | +11.9% |
| Powhatan | $463.9K | $495.4K | +6.8% |
Housing Supply in Berkeley, VA
How many homes are available in Berkeley, VA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 121 | 123 | +1.7% |
Summary: The Berkeley real estate market had 123 homes for sale in November 2024, a 1.7% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 13 | 15 | +15.4% |
| 3 Bedrooms | 46 | 52 | +13.0% |
| 4 Bedrooms | 48 | 45 | -6.3% |
| 5+ Bedrooms | 11 | 8 | -27.3% |
Summary: The Berkeley 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 increased by 15.4%, 3 bedroom homes increased by 13%, 4 bedroom homes decreased by 6.3%, and 5+ bedroom homes decreased by 27.3%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 25 | 35 | +40.0% |
Asking Price vs. Sold Price
8 Homes Were 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, you may be able to get a good deal. 80% of homes here sold below asking price last month.
Summary: A total of 35 homes were sold or pending in Berkeley in November 2024, up by 40.0% month-over-month. Of the 10 sold homes, 80% were sold under asking, 20% were sold at asking, and 0% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 40 Days | 37 Days | -5.2% |
Summary: Homes in Berkeley had an average of 37 days on market in Nov 2024, down by 5.2% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
14 Homes Were Sold
In 30 - 90 Days
2 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, 35 homes were sold in Berkeley; 54% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
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