listings to drool over, policy to cry about

April Market Snapshot

So how’s the economy? Wellll, it’s complicated. Consumer confidence? Down. Stock market? A rollercoaster. And yet… real estate? Weirdly resilient. As of early April, things are uncertain (again..for the 17th time this week). The policies are flipping, the headlines are whiplashing, and the predictions are unpredicting. But! At least interest rates are (kind of) trending down, and most tariffs just hit pause.

Despite the macro mess, spring has sprung in the East Bay. Inventory’s rising, buyers are circling, and the energy is (cautiously) competitive.

Listings are back. Inventory was up 48% YoY — the highest it’s been in four years. March alone brought a 16.5% jump in new listings. Still low by pre-pandemic standards, but still trending up.

Buyers are back. Contracts were up almost 10% in March. Open houses are buzzing. Homes are selling faster and for 10% over asking. Not as feral as 2021, but still bidding war behavior.

Prices are back. Q1’s median house price is up 10% from last year. The well-staged, light-filled, move-in-ready homes are winning hearts and getting offers.

It’s really a tale of two markets. Single-family homes are where the action is. Median price sits at $1.2M with just 12 days on market. Buyers are clearly craving space, light, and even a sliver of a yard. Condos, meanwhile, are moving much slower. With a median price around $675K and 24 days on market, there’s noticeably less competition, which means more negotiating power for buyers. So if you’ve been thinking about getting a condo, this. is. your. chance!

The big picture’s still unclear, but locally, we’re seeing momentum. Buyers are showing up. Sellers are showing out. And this market is having a spring moment. Just with a cautious side-eye toward the broader economy. Understandably.

Your House Called — It Wants a Tax Break

In honor of the looming tax day (maybe honor is not the right word but let’s just roll with it), some home upgrades won’t just impress your neighbors, they’ll impress the IRS too. Not every renovation will qualify for a tax break, but here are some that do*:

1. Energy-Efficient Makeover. New windows? $600 tax credit. That fancy biomass stove? $2,000 credit. An energy audit (aka someone judging your insulation)? $150.

2. Clean Energy = Clean Tax Breaks. Install solar, battery storage, or geothermal system, and get 30% back via the Residential Clean Energy Credit. Save money and the planet. A win-win!

3. Historic homes = historic write-offs. Own a historic home? Restoring original elements or replacing infrastructure to preserve its character might qualify for tax breaks.

4. Medical Upgrades = Possibly Deductible. Ramps, wider doorways, accessible upgrades — if they’re medically necessary, they could be deductible as medical expenses.

*Obviously, talk to your tax professional and don’t let a newsletter be your only financial advisor.

How’s Housing Policy Been Lately?

The Trump administration made some new housing moves. Spoiler alert: it’s all kind of tariff-ying. Here’s what’s happening:

🔨 Building got pricier. Tariffs on steel and lumber have added $9,200 onto the average cost of a new home. Ouch.

🧩 Discrimination is easier now. Fair appraisal protections were rolled back, making it easier for bias to slip back in. Less oversight means more loopholes. And fewer ways to fight back when discrimination happens.

💸 Housing help is on pause. Disaster relief, rental aid, and homelessness programs were paused. Add thousands of HUD job cuts, and the safety net is hanging on by a thread. Figuratively.

🏠 Renters are on edge. Policies framed as “efficiency” proposed raising rents and tightening income rules for low-income tenants. The real outcome? A higher risk of eviction for those already barely scraping by.

👷 Construction is slowing down. Crackdowns on undocumented workers (who make up a big chunk of the construction industry) led to fewer workers, slower builds, and higher housing costs. Turns out you can’t build homes without builders. Who knew?

Lots more where that came from, but I’ll pause here for the sake of your sanity (and mine). Will continue this spiral next month! 😅