Berkeley’s March real estate sales numbers are a study in contradictions. The cost per square foot actually went down a tad, with larger homes selling this March (1668 square feet on average) than last year (1425 square feet). Meanwhile, this March’s median price of $726,000 marked a 1.1% increase from last March’s value of $718,000.
At 19 days on average, days on market are only one day longer than last March’s average of 18 days. Meantime the expired ratio actually went down, from 7% to 6%. Homes are still selling quite briskly, as also evidenced by the fact that the average home sold in Berkeley for 6.1% over list price in March. The average sale price was $877,210, bid up from the average list price of $826,761. Inventory remains quite low at 1.88%.