BLUEPRINT
EAST B AY
A L O C A L N E W S L ET T E R
Now that it’s March we can of cially let go of the “new year, new me” mantra and enjoy eating out again : ) Here are some of highlights from the last month. CENADURIA ELVIRA- OAKLAND The New York Times named their tostada one of the best dishes of the year back in ’23. Now this hidden gem, backyard hot-spot has its own home in Jack London Square. Serving crispy tacos, tostadas & more, and specializing in all things Jalisco, Cenaduria Elvira needs to go on your list. 11-9PM WedMon. 468 3rd St, Oakland
CAFE BOLITA - BERKELEY
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While the 24 seat interior dining space is still being nalized, Cafe Bolita has of cially launched their soft opening via a to-go window in West Berkeley. With a deep focus on nixtamilzed heirloom corn as the base for a masa forward menu, Cafe Bolita has already begun drawing crowds. The menu (for now) features heirloom blue corn quesadillas, braised-chard tamal and a veggie forward frittata. They also serve coffee out of the to-go window, too. The menu and hours are set to expand as the interior remodel is completed later this month. 2701 Eighth St #118, Berkeley
e East Bay Bubble ( IT ’ S NO T TH E ON E YOU ’ R E T H INK ING OF )
“How’s the market?” You would think this is the one question that every real estate agent in the country would love being asked but honestly, we fumble this one just about every single time. Despite getting this question every single day we fumble this one every time. It would be so much easier if we were asked, “How many new homes came on the market last week in Thousand Oaks?” or “What’s the average home price in Elmwood?” or “How many o ers did they receive on that amazing house on Terrace Drive?” (9 o ers BTW!). The question is di cult to answer because the East Bay market can mean di erent things depending on which side of the table you’re sitting; buyer or seller. Inside the real estate world many would point to the absorption rate to answer the question, “How’s the market?”. Absorption rate is one of those real estate terms that sounds technical but it’s actually quite simple. It measures how quickly homes are selling relative to how many are available. Imagine that 100 homes are on the market and 80 of them go into contract within a month, that would represent an 80% absorption rate. A high absorption rate means buyers are quickly “absorbing” the available homes, while a low absorption rate suggests that inventory is sitting longer and buyers have more negotiating leverage. In plain terms, it tells us how competitive a housing market is and for many, that would be a great way to answer the question. Nationally, the absorption rate is an important gauge of market health because it re ects the balance between supply and demand. Economists often describe a balanced housing market as having about six months of available inventory. That roughly translates to a monthly absorption rate of about 16–17%. When absorption drops into the 10–15% range, inventory tends to accumulate and buyers gain leverage. When it rises above 20–25%, demand begins to outpace supply and competition increases. In many large U.S. metros today, places like Miami (11%), Austin (13%), and New York City (15%), inventory levels have climbed substantially in recent years, pushing absorption rates into more of a buyer’s market. (continued)
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MARCH 2 0 26