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New-ish Hot Spots
Sirene, located in the former Sister space, is the latest venture from celebrated chef Gavin Schmidt and sommelier Paul Einbund, known for their acclaimed San Francisco bistro, The Morris. Schmidt brings his deep-rooted love for the ocean—shaped by his Pacific Northwest upbringing—into a refined yet welcoming neighborhood restaurant. The menu, which rotates with the tides, highlights locally sourced seafood like whole Petrale sole fireroasted over oak, and inventive dishes like seafood charcuterie and towering fried chicken. With its sea-to-table ethos, rustic elegance, and a touch of fine-dining finesse, Sirene could be the next perfect date night. 3308 Grand Ave, Oakland | 8-2 for coffee 5-9:30 for dinner.
KITAVA
Known for its nourishing, flavor-packed dishes that cater to a variety of dietary preferences, Kitava originated in San Francisco and has grown a loyal following with locations in the Mission, Oakland, and now Albany. The menu is centered around clean, whole-food ingredients—think cassava breaded chicken nuggets, flavor packed bowls such as poké/ spring noodles, and vibrant veggie-forward plates that are entirely gluten-free, with plenty of paleo, vegan, and Whole30-friendly options. 1187 Solano Ave, Albany | Open 11-9 daily
Rent Prices Showing Signs of Decline EAST
If you’ve been watching the rental market in Berkeley, you may have noticed something unexpected: prices are actually falling. According to recent data, the median rent for a dated one-bedroom apartment in the city dropped to $2,295 in the summer of 2024 a noticeable decline from $2,600 just two years earlier. In fact, those rent levels are nearly identical to what tenants were paying back in 2018.
Considering the Consumer Price Index has risen more than 25% since then, today's rents are effectively cheaper than they’ve been in years, even without adjusting for inflation.
This marks a major change from the years leading up to 2018, when rents were rapidly increasing and Berkeley’s housing crisis was intensifying. Now, however, there’s clear evidence that prices in the city’s stock of older, rent-controlled apartments have not only stabilized but declined. These rental units typically in multifamily buildings built before 1980 are often more affordable than single-family homes or new developments. While landlords can still set market rates for new leases in these buildings, the figures show that even those new tenant rents are trending downward, not up.
Many housing advocates believe the softening market is due in large part to an increase in housing supply. Since 2015, Berkeley has tripled its average annual housing production from just 173 homes per year to nearly 600. Over 2,200 new apartments have hit the market in the past three years alone, and UC Berkeley opened more than 1,500 student housing beds last summer. Local housing activist Darrell Owens says the timing isn’t coincidental: “We spent almost 20 years debating whether building housing in Berkeley would reduce rents I think the evidence is pretty clear.” The idea is that giving more people access to housing, especially near jobs and campuses, eases demand and drives prices down.
SIRENE
HOME OWNER’S INSURANCE: WHAT’S ON THE HORIZON
Volatility in California’s home insurance market has been a “thing” now for more than a few years. Homeowners are facing a rapidly evolving insurance landscape marked by rising premiums and increased policy cancellations. Since 2020, the average homeowners insurance premium in the U.S. has surged by 33%. In California, this trend is exacerbated by the increasing frequency and severity of wildfires, such as the devastating Los Angeles County fires, which have been estimated to cost north of $200 billion in total loss!
In a landmark move for California homeowners, Insurance Commissioner Ricardo Lara has recently implemented a fi rst-of-its-kind regulation that requires insurers to use forward-looking catastrophe modeling in setting rates and expanding coverage in wild fi re-prone areas. This regulation, part of Lara’s Sustainable Insurance Strategy, mandates that major insurers write policies in distressed areas at levels proportional to their statewide market share—something previously not required. It also acknowledges and incorporates the wildfire mitigation efforts of homeowners and communities, a key step toward (hopefully) fairer, more accurate pricing.
Many home owners have switched from passive to a (pro) active approach when it comes to their insurance coverage, often going above and beyond to raise their of insurability. I make it a point to meet monthly with insurance brokers/agents to stay informed and I also talk to a lot of plumbers, electricians, roofers, etc. If you are interested in raising your insurability, here are some areas they recommend assessing:
• Fire Hardening: Ensure trees are cut back from your home and never (when possible) hanging over your roof. The more room you can put between your house and any vegetation, the better.
• Roof: Insurers will often use satellite imagery to assess the condition of your roof. This can be through Google images or drone photography. You might want to do a quick search to see what your roof looks like.
• Water Leak Sensors: Some companies require that policy holders install water leak sensors that shut off the water supply when a leak is detected. If you don’t already have one installed you may want to look into it. Many plumbers I s
Of course, not everyone agrees. Leah Simon-Weisberg, former chair of Berkeley’s Rent Stabilization Board, believes rents have plateaued not because of more supply, but because fewer people can afford the sky-high prices. She argues that rent growth has hit a ceiling due to stagnant wages though U.S. Census data shows median income in Berkeley rose by more than 20% from 2018 to 2023. Regardless of the cause, landlords themselves appear to acknowledge the shift: in a newsletter from the Berkeley Property Owners Association last summer, many were advised on “managing through declining rents.”
One major reason for the shift may be how student housing demand has evolved. Owens notes that in years past, Cal students would scramble for older, rundown apartments in South Berkeley. Today, those same students have many more options modern apartments closer to campus, especially in Downtown Berkeley, have pulled some of that demand out of the older rental stock. The result? Less competition for aging units and, subsequently, lower rents. “Students today have no idea how much better it is now than it was 10 years ago,” Owens said.
Berkeley’s experience isn’t happening in isolation. Zillow data shows other Bay Area cities even those without housing booms have seen rents stabilize or even decline. The broader economic context also matters. The region’s population has shrunk slightly since the pandemic, largely due to remote work shifts and a slower post-pandemic recovery. That said, Berkeley remains one of the few cities that tracks rents at a granular level, giving us rare insight into how real estate trends are evolving in real time.
While rental prices for older apartments in Berkeley have declined in recent years, the market for single-family homes remains robust. As of May 2025, the average rent for single-family homes in Berkeley was approximately $4,940 per month, with onebedroom houses averaging $2,146, and four-bedroom properties commanding about $8,937 monthly. The premium for single-family homes can be attributed to their larger living spaces, private amenities, and appeal to families or professionals seeking more room and privacy. Despite a general softening in the rental market, single-family homes continue to attract tenants willing to pay higher rents, indicating a stable demand in this segment.
The recent data shows that, at least for now, housing affordability in Berkeley is improving slightly especially for those entering the rental market. In some cases, older apartments are now priced lower than subsidized housing units, offering rare relief in a region often associated with sky-high costs. Whether the cooling continues will depend on many factors: how much new housing is built, the direction of the local economy, and shifts in demand as people reconsider where and how they want to live. But for now, a message is emerging: Berkeley's rental market is undergoing a quiet but meaningful transformation and it's worth paying attention to.
How Overall Economic Volatility Impacts Our Housing Market
Since March 2025, the Inner East Bay (Berkeley, Oakland & adjacent areas) real estate market has experienced some noticeable shifts amid broader economic volatility. Despite persistent affordability challenges, home prices have continued to rise. In April 2025, the median sale price in Berkeley reached $1.7 million, marking a 13% increase compared to the previous year. This growth is particularly striking given the ongoing economic uncertainties that exist.
The number of homes selling for cash has increased substantially during March & April. In fact, 50% of home sales in Berkeley in March were cash purchases. This is significantly higher than the 15% average in the months leading up to March. We have definitely experienced an uptick in people cashing out stocks, crypto & other portfolio assets and transferring that equity into a home purchase. This is especially the case for first time home buyers in the area.
The national and statewide media has reported drastic price reductions and homes incurring massive days on market increases during as a result of economic volatilyt. We’ve seen some very small impacts in these areas but overall our market has not experienced what the rest of the nation has experienced here. Days on market for Berkeley went from 15 in April of ’24 to 18 in April of ’25. And there were just two price reductions on homes in Berkeley during March & April.
While there have been some noticeable impact from the economic volatility we still are seeing a seller’s market in most parts of the Inner East Bay. In fact, homes that are turnkey and in prime locations (good schools, walkable to amenities) are still seeing very very strong competition. In May there was a great 3BR/2BA house (1,588 sq ft) in Albany on Santa Fe that was listed at $1.3M and it received 18 offers and sold for a little over $2.2M!!
Classic, Delicious & Hearty No Bean Chili
Before we make the full on transition from cold weather to warm weather I thought I’d share one of my favorite comfort food recipes: chili. This is a straight forward that doesn’t include beans. 9 out of 10 times I LOVE beans but for some reason I am not a fan of them in chili. If you’re like me then you’ll
• 2 medium onions, diced
• 4 cloves garlic, minced
• 2 lbs ground beef
• 1 tsp dried oregano
• 2 tbs chili powder
• 2 tbs cumin
• 1 tsp ground allspice
• 1 tsp salt
• 1 can tomato paste (6 oz.)
• 1 can fire roasted tomatoes (14.5 oz)
• 2 cups beef or chicken broth
• 1 cup water
• 2 4oz cans Hatch chilis 4 (mild or hot)
Steps
1. Using large, deep pot heat oil and then add onions stirring occasionally and cook until translucent, about 7 minutes. Add the garlic until fragrant, about 30 seconds. Add ground beef and mix to combine. Cook until no longer pink.
2. In a small bowl, crush the oregano between your palms to release the flavor. Add chili powder, cumin, allspice, and salt and mix. Add to the pot and stir it in well. Add tomato paste and stir until combined, about 2 minutes.
3. Add can of tomatoes, beef broth, chilis and water. Stir well. Bring to a boil then reduce the heat so chili enjoys a gentle simmer. Simmer for at least 2 hours.
4. Serve with your favorite condiments:
Come
Michael Perry
801 Delaware St.
Berkeley, CA 94710
510.641.654
Michael.perry@compass.com Lic #02193642
village, it’s the perfect way to spend a summer Saturday in Oakland — more info and tasting tickets at MontclairVillage.com.
June 14th | Berkeley Piano Club
MidCentury Modern: Carter, Poulenc, Martinu For one night only, Berkeley cellist Isaac PastorChermak will team up with pianists Miles Graber and Alison Lee for a special concert exploring postwar music composed around the year 1950. The recital, titled “Midcentury Modern,” will be presented at the historic Berkeley Piano Club. The recital features cello sonatas by lifelong New Yorker Elliott Carter (1948), Czech composer Bohuslav Martinů (1952), and renowned Parisian composer Francis Poulenc (1948). Tickets at Eventbrite.com. 7:30PM
June 19th | Chase Center
Indiana Fever vs. Golden State Valkyries The inaugural season for the WNBA’s newest team, The Valkyries, has been a huge success so far. And it’s likely to get even better when the Indiana Fever come to town and with them they bring superstar Caitlyn Clark. Tickets available at Ticketmaster as well as all resale outlets. 7PM.
BLUEPRINT | EAST BAY
