Happy Earth Day/Week/Month!
Dear friends,
This month’s news will focus primarily on items and events related to planet-friendly topics. But I always share a snapshot of our real estate market, so here is the quick summary. You are always welcome to reach out for specifics relevant to your situation.
How is the market?
I mentioned last month that our inventory is lower than this time last year. There are many possible reasons for this, including lots of general concerns about our economy. Inventory increased slightly in the past month, which we would expect as a seasonal adjustment. But the number of pending sales did not keep pace, for the most part. Given the anxiety created by the continuing war in Iran, it’s not surprising that many people will not feel comfortable making a major financial investment right now. But that’s the big picture view. For the homes that my buyers are interested in, and for most homes that are well located, carefully prepared for the market and priced appropriately, those homes continue to perform well and sell quickly.
As a quick data point, let’s look at what sold in Berkeley from the beginning of March. Of the 94 detached homes that sold, one third of those closed at least 35% above list price, and within two weeks (basically on schedule). Of those, the top three sales were at least $1M over list price, and these for homes listed below $2M! The most extreme case was for a home in Westbrae of 1450 sq ft, listed for $1,095M that sold with 12 offers for $2.4M. In the other two cases, it took only five offers to obtain results of $1M over list. More than half of the Berkeley homes over the past six weeks sold at least 20% above list price. Only 11% of the sales were below list price.
In Oakland, 22% of the 296 single family homes that sold from March 1 until now closed at least 35% above list, while 24% sold below list price.
Of course, list price in our area is not an absolute number. It is sometimes aspirational, and it is often intentionally very low, based on the desires of the seller, or the style of the agent. In our area it is always the opening bid in a silent auction. But these results are characteristic of a seller’s market, and at least in Berkeley, a fairly strong one.
I am hoping that the seller’s market will continue in Berkeley at least through next month, as my partner Ambrish and I are getting a home in North Berkeley ready to debut in early May. It is unusual in having an additional structure constructed as a climbing gym! It’s also a bit unusual in being a 4 bedroom single family home very near Shattuck Avenue and Walnut Square, an area that includes numerous multi-units. We plan to debut that home on Sunday, May 10th, and I’d be happy to share more with anyone interested.
Some things continue to be the case this year that have been true most years: buyers in general are willing to pay well for what they want. And the East Bay market generally has fewer homes for sale than those who wish to buy them. Our low inventory means that buyers are often frustrated by not seeing many attractive options. I can only repeat that this is not new! People who own a home and are considering selling it first and then buying (which makes them much stronger buyers) must accept that in the East Bay, low inventory is an almost perpetual state. That’s especially true for homes with a certain cachet, especially near amenities. Waiting to sell your home until you see one of those “special properties” is very likely to lead to frustration. We know those homes exist. We don’t know, and can never know with certainty, when they’ll appear on the market. So selling first is often required. And yes, it requires a leap of faith!
Arlene
I am barely getting this out still on Earth Day, the 56th celebration of this international movement, this year with the theme Our Power, Our Planet. Each year I like to mark this week with a conscious act, either of avoiding something (like buying items in plastic packaging) or taking a positive action (like participating in trash pickups). Ideally we can be mindful for at least a week, but preferably an entire month or more, making a difference to our globe. I hope you have your own ways to acknowledge Earth Week, and that you might enjoy some of the following suggestions and events, and sources of inspiration.
When adding plants to your garden, consider planting natives, and pollinators
Bees, butterflies and birds, as well as a host of other insects, are all pollinators, and we know how crucial they for the environment. Attracting pollinators to your garden and helping them survive is a wonderful and relatively easy way of giving back to the planet. Many California natives are important pollinators, as well as unique host plants.
Coming up on May 2 (inner East Bay) and 3 (inland) from 10 am – 5 pm is the Bringing Back the Natives Tour, a great source of inspiration and ideas for planting more natives. Several homes will also share ways in which they have moved from gas appliances to electric, and in some cases have removed their gas line altogether. My husband and I are excited to be making our tour debut!
Over the past few years my husband David and I have transformed our median strip from just a patch of Bermuda grass, to a California native garden. It’s now planted with all native plants, including Ceanothus (California lilac), a ground-cover Manzanita, California poppies, sages, lupines, Ribes sanguineum (red flowering currant) and of course narrow-leaf milkweed. As that’s the only plant that Monarch butterflies can lay their eggs on, we knew that was an essential plant, and we’ve been rewarded. Last year I had the very moving experience of watching a monarch butterfly emerge from its chrysalis and fly off. And this year we’ve already watched as a monarch deposited her eggs on our milkweed plants. May many of them strive!
Come see our garden on Saturday, May 2, 10 am – 5 pm. For the first time we will be part of the Bringing Back the Natives tour! Each of our native plants will be labeled, and we would be happy to give you a tour. In addition to our median strip, we will also be showing half our front garden, recently planted with 15 varieties of manzanitas, along with yarrow, lupines, sages, and a plant new to me: Lacy Phacelia (right most photo above). It has a charming lavender flower and attractive leaves. We planted it from seed and it grew quickly. The only downside: the deer think it’s delicious!
For more information about our garden, or to register for the tour, go to bringingbackthenatives.net The website is a terrific resource for information about native plants, as well as local nurseries and landscapers.
SATURDAY, APRIL 25: two events at The Brower Center in Downtown Berkeley at 2150 Allston Way:
Home Electrification Fair
From 2-5 pm this free event offers Bay Area homeowners trustworthy guidance on transitioning from gas to electric — tailored to their unique situations. It will help you answer the question of where to start!
Short films with a long impact!
Wild & Scenic Film Festival: the 24th Annual: where activism gets inspired!
Saturday, April 25th, 6:30 doors open, 7 pm start time. Come early for the Silent Auction and free swag!
I have attended several of these film festivals, and they are inspiring, moving, and I always leave feeling very glad that I attended.
Tinyurl.com/wsff2026. Use code CCL for a $5 discount
Celebrate Earth Week at the Ecology Center EcoStore, April 22 to April 25. Members receive 20% off storewide. Not a member? Join in store, memberships start at $25.
This is a great time to stock up on garden, refill, and low waste essentials. The EcoStore is a favorite place of mine to purchase client gifts. If you spend $50 or more you’ll receive a free gift.
Your membership and purchases support the EcoStore and Ecology Center programs. I am proud to be a donor to the Ecology Center. Besides the recycling work that they have pioneered, our Ecology Center has been a major influencer in reducing plastic, especially in food packaging, not just locally, but across the country.
For those who read this news promptly, and might be interested in seeing this special Six-Plex listing, I will be there showing the three vacant units, as well as the largest of the units which is tenant-occupied, on Thursday morning, 4/23, from 10 am until noon.
The complex at 1739 – 1759 Spruce is one that I both listed and sold to the current owner in 1999. These three duplexes sited around a central garden are very spacious, and live like single family homes. They have the advantage of all being vacant as of June 1, making it a very attractive option for groups, extended families, or organizations that wish to owner-occupy, or choose their own tenants. One unit is currently available to view in each duplex. SpruceSixPlex.com Offered at $6.8M/
The Good News Department!
Earth provides enough to satisfy everyone’s needs, but not everyone’s greed.” – Mahatma Gandhi (Happy Earth Day!)
Arlene Baxter
arlene.baxter@theagencyre.com
15107171799
Lic. #1209552
1619 Shattuck Ave, Berkeley, CA 94709
INFO@THEAGENCYRE.COM | 925-708-0407
THEAGENCYRE.COM
