The Local Lowdown

Single-family prices soften as the spring market matures

After a stretch of relative stability, single-family home prices in the East Bay showed some modest softening in April. Alameda County came in at a median of $1,317,080... down 2.44% year-over-year. Contra Costa County followed a similar path, with the median settling at $860,000, down 1.71% compared to last year. These are relatively small movements, and in the context of how much prices have appreciated over the past few years, a slight pullback isn't necessarily a cause for concern... it's more of a natural exhale after a long run up.

The condo market continues to be a more complicated story. Alameda County condos declined 10.38% year-over-year to a median of $582,500, while Contra Costa County condos actually bucked the trend... rising 9.44% to $492,500. That kind of contrast between two neighboring counties is a good reminder that the condo market can swing significantly from month to month, especially when transaction volumes are smaller. The headline number doesn't always tell the whole story.

Inventory remains exceptionally tight despite the spring rush

This is typically one of the busiest times of year for new listings to hit the market... and while we have seen some activity pick up, the East Bay inventory picture remains strikingly constrained. Single-family home inventory across the region stood at just 2,480 units in April... down 25.23% compared to this time last year. That's a significant gap, especially heading into what should be peak selling season.

The condo market isn't far behind, with inventory down 14.82% year-over-year to 937 units. What's worth noting is that even as single-family prices dipped slightly, the lack of supply is continuing to provide a meaningful floor under values. When there simply aren't enough homes to go around, prices don't fall far... and that dynamic is very much in play across the East Bay right now.

Single-family homes continue to move at a rapid pace

Buyer demand for single-family homes in the East Bay isn't showing any signs of slowing down. Both Alameda and Contra Costa Counties are seeing the average listing move in just 13 days... right in line with where they were a year ago. The fact that the pace hasn't slipped despite some modest price softening tells you that motivated buyers are still out there, still engaged, and still moving quickly when the right home comes along.

Condos are taking a little longer, with Alameda County averaging 24 days and Contra Costa County coming in at 21 days. But even those figures represent a reasonable pace by historical standards... it's less about condos being difficult to sell and more about buyers in that segment having a bit more breathing room to weigh their options before committing.

Single-family homes remain a seller's market while condos favor buyers

One of the clearest ways to read a market is through Months of Supply Inventory, or MSI. California historically averages around three months... which is considered balanced. Below three months favors sellers. Above three months shifts the advantage toward buyers.

The East Bay continues to be defined by a clear divide between property types. On the single-family side, sellers are firmly in control. Alameda County sits at just 1.8 months of supply... down 28% year-over-year. Contra Costa County is at 2.1 months, down 25%. With inventory this tight and homes selling in under two weeks, buyers in this segment need to come in prepared and ready to act with confidence.

The condo market is telling a very different story. Alameda County ended April with 4.3 months of condo inventory and Contra Costa County came in at 4.1 months... both firmly in buyer's market territory. If a condo is on your radar, this is genuinely one of the better moments to take your time, explore your options, and negotiate from a position of strength. The leverage that buyers rarely get in this region right now... you actually have it in the condo market.

Bottom Line

The East Bay this spring is a market of two very distinct realities. Single-family homes remain in high demand, inventory is critically low, and homes are moving in under two weeks... keeping sellers in a strong position despite some modest price softening. The condo market, on the other hand, is giving buyers something they haven't had much of lately... options, time, and negotiating power. Wherever you fall in this market, the key is understanding which side of that divide you're on and building your strategy around it. Preparation matters for single-family buyers. Patience and leverage are your friends if condos are in your sights. And for sellers across both segments... pricing it right from the start remains the single most important thing you can do.

The Local Lowdown Data