For those of us with kids in our lives, we are currently in the time of year I like to call Maycember. Gone is the rote schedule of the normal school day and in its place a multi-weeklong carousel of activities, awards ceremonies, end of year project presentations and graduation parties. It’s kind of like the craziness of the holidays, but with warmer weather. Every year at this time, I am left wondering why some of these events couldn’t have happened just a month or so earlier, but here we are! Thankfully, in just a week or two, we will be into the languid days of summer and may be able to take a breath. Until then…
Let’s get right to the market update…
In April, the East Bay experienced a slight dip in home prices. Single-family homes saw median price decreases of 3.2% in Alameda County and 4.3% in Contra Costa County compared to the last year.
Inventory levels are climbing with active single-family home listings surging by over 43% year-over-year. This increase provides more options for prospective buyers and indicates a shift towards a more balanced market.
The Months of Supply Inventory (MSI) metric offers insight into market balance. Currently, Alameda County has 2.2 months of supply for single-family homes, while Contra Costa stands at 2.5 months.
Mortgage rates remain a pivotal factor in buyer decision-making. Rates are hovering between 6.2% and 6.7%, with expectations to stay within this range through the end of 2025. While higher than the historic lows of previous years, these rates are prompting buyers to act before potential increases.
The reality is that the East Bay real estate market is experiencing a period of adjustment. With increasing inventory and stable mortgage rates, buyers do have more leverage, but it isn’t the case for every purchase. Sellers offering properties with broad appeal and employ mindful pricing strategies remain competitive and may be more successful in attracting multiple offers. For now, the bottom line is that both buyers and sellers need to remain patient during negotiations to get to a happy meeting ground for all.
Here are quick snapshots of the market conditions in two areas I frequently work in, Lafayette and Montclair in Oakland, with the most current information as of April:
My most recently sold properties…
7050 Exeter, Oakland – Listed at $1,195,000 Sold at $1,450,000
3525 Boyer, Lafayette – Listed at $1,595,000 Sold at $1,650,000
I loved working on both properties! And though every sale has its unique challenges, ultimately the results we achieved for our clients exceeded our expectations and there are two happy buyers with new homes. Interestingly, though just through the Caldecott Tunnel from one another, the pricing strategies for each of these areas is quite different. In Alameda County, it is still typical to price homes with a sharply competitive price to attract multiple offers. And, even when there isn’t competition, agents use recent sales data heavily when helping clients determine an acceptable offer price, which can land much higher than the list price. Alternatively in Contra Costa County, homes are usually priced only slightly below or at goal price. Though some homes exceed slight overbids, the average for sales price to list price is about 11%. As one of the rare agents in our area that has an established business in both counties, I love to help buyers and sellers navigate each of these markets. Over the past 17 years of being in real estate, I have helped buyers and sellers in Lafayette, Orinda, Moraga, Oakland, Piedmont, Berkeley, Lafayette, Walnut Creek, Albany, El Cerrito, Kensington, Emeryville, and surrounding cities as well. If you would like to know more about how I can help you (or a friend, family member or colleague) achieve your goals in either county, please call, text or email.
One of the local organizations near to my heart…Child Abuse Prevention Council of Contra Costa County
Thank you to the Auxiliary for the Child Abuse Prevention Council for organizing such an incredible event! We’re deeply grateful to everyone who attended and supported CAPC’s mission. Your presence and generosity help us continue our important work to protect and empower children.
The Child Abuse Prevention Council of Contra Costa County (CAPC) hosted their annual lunch and, as a sponsor and member of the Auxilliary board that helps with the planning, I feel great pride in announcing that this event raised $86,036. These funds will go directly towards CAPC’s mission to promote the safety of children and prevent child abuse and neglect in Contra Costa County by raising community awareness, influencing public policy, educating our community, providing resources and support programs to families. To learn more about what this organization is doing in our communities, please visit https://capc-coco.org/
Coming Up Events Around the Bay
📅 May 24–25 | 📍 Mission District, San Francisco
Experience a vibrant celebration of Latin American and Caribbean cultures with live music, dance performances, and a grand parade featuring over 70 contingents.
📅 May 28 | 📍 Oracle Park, San Francisco
K-pop sensation Stray Kids brings their world tour to San Francisco for a high-energy performance.
📅 May 29 – July 6 | 📍 American Conservatory Theater, San Francisco
Experience a hip-hop musical exploring the societal impacts of tech startup culture.
Sunday, June 1st | 10:30am – 12:30pm
Moraga Commons Park
Float on over for a sprinkle of sunshine and a whole lot of high-vibe happiness at our magical kids’ pop-up event!
📅 Various Dates | 📍 Throughout San Francisco
Explore the city's history and architecture through guided walking tours
