Scott Ward's Market Update

Berkeley, CA 94705

Single-Family Homes

Scott Ward Real Estate | www.scottward.me | scott@scottward.me



Berkeley, CA 94705

Thu Mar 28 2024
This week the median list price for Berkeley, CA 94705 is $2,300,000 with the market action index hovering around 33. This is less than last month's market action index of 42. Inventory has increased to 11. Click here to stay informed with the Berkeley market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Seller's Advantage

The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Berkeley, CA 94705

Thu Mar 28 2024
This week the median list price for Berkeley, CA 94705 is $2,300,000 with the market action index hovering around 33. This is less than last month's market action index of 42. Inventory has increased to 11. Click here to stay informed with the Berkeley market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Seller's Advantage

The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Real-Time Market Profile

Never miss important changes in the Berkeley market.
Median List Price $2,300,000
Median Price of New Listings $2,145,000
Per Square Foot $735
Average Days on Market 46
Median Days on Market 21
Price Decreased 27%
Price Increased 0%
Relisted 9%
Inventory 11
Median Rent
Market Action 33
Slight Seller's Advantage

We continue to see prices in this zip code bouncing around this plateau. Look for a persistent up-shift in the Market Action Index before we see prices move from these levels.

Market Segments

Each segment below represents approximately 25% of the market ordered by price.

Median Price Sq. Ft. Lot Size Beds Bath Age New Absorbed DOM
$3,995,000 4,240 0.25 - 0.5 acre 4 5.5 108 0 0 14
$2,995,000 2,396 8,000 - 10,000 sqft 5 4 28 1 0 35
$1,999,999 2,915 6,500 - 8,000 sqft 4 3 112 0 0 56
$1,495,000 1,679 0 - 4,500 sqft 4 3 97 1 1 7