Spring into Action!

Spring has sprung, and I’m enjoying the warming temps and gorgeous blooms and trying to take moments here and there to just appreciate the little things, and I hope you are too. Between the tariff tap-dancing and subsequent plummeting of the stock market, and the disappearance of people to other countries without trial, the past week has been one of the worst yet, and I know it’s taking a toll on us all. It’s a wild balancing act trying to care for our families, continue our work so we can pay the bills, and stay aware, alarmed, and active in the resistance, all without burning out or giving in to hopelessness. If you’re feeling the strain these days, I see you, and I’m right there with you. But we can and will keep fighting. If you need a quick moment to recharge, take it, and then let's spring back into action. Let me know what you've got planned - I'd love to join forces.

 

In normal times, Spring has my thoughts naturally turning to two topics: spring cleaning and spring home maintenance. (I know, I know, I’m super fun). In the spirit of controlling the things we can and creating conditions for strong, resilient mental health, these are actually not bad things to put some energy into. As you work on your spring cleaning, you can look out for the planet as well by taking advantage of local recycling programs for a rundown of resources. And I’ve included my Spring and Summer Home Maintenance Checklist below. If you’d like a hard copy to put on your fridge so you can check off items as you go, just reply with your mailing address, and I’ll send it right out to you.

 

Finally, some good news: we have inventory! As you’ve heard me say before, a lack of supply is consistently the biggest challenge we face in the East Bay Real Estate market - it creates egregious levels of competition and keeps prices high even when rates are up, shutting too many people out of the rewards of homeownership. But similar to last Fall, we are seeing more inventory than usual again this Spring, with levels currently at about 2.5 months of inventory. For comparison, we were at about .5 months of inventory at this time in 2021, and at about 1.5 months this time last year. What remains to be seen is if inventory rates continue to rise as they typically do this time of year, or if they’ll level off, indicating that we simply got our Spring inventory early this year. With an unseasonably dry January and a busier Q1 than usual, I’m betting on the latter, but I’ll take the good news where we can get it. 

 

And for any homeowners and prospective sellers who worry that this increase in inventory will tank prices, I offer this bit of perspective: the market is considered balanced (favoring the seller and buyer equally) at 5 months of inventory, and we’re nowhere near that, so yes, it’s still a seller’s market. Median prices are up 4.2% year over year across the Inner East Bay, and 15-year appreciation for single-family homes is between 200% - 300% depending on neighborhood. Want the stats for your home and neighborhood? Just reach out.

 

- Suzy