More Berkeley real estate sales research for you!
We can learn lots of information from the graph:
- Much of Berkeley was built up in the 20’s, and so most the Berkeley housing stock is either 2 or 3 bedrooms (BR)
- 3 BR homes sold for incrementally more than 2 BR homes; 3 BR = 2 BR + $xxx,000. Using the median price, you can purchase a 3 BR home for about $175,000 more than a 2 BR home
- 4 BR homes sold for geometrically more than 2 BR homes; you have to pay about twice as much for a 4 BR home than a 2 BR home
- Very few Berkeley homes sold for $500,000 or less.
Some more number crunching …. I like to refer to median home prices as a way to compare pricing distribution. The median price is the price at which half the homes sold for more, and half the homes sold for less.
This table isn’t formatting quite how I want it to.. but this will give you the idea.
BR # of Sales Median Price
2 ….. 147 ….. $625,000
3 ….. 187 ….. $801,000
4 ….. 105 ….. $1,170,000
5 ….. 26 ….. $1,350,000
Data from East Bay Regional MLS, which doesn’t reflect all home sales in Berkeley, but I think it gives a pretty good feel for distribution of the number of homes, and their pricing distribution.