If you were watching the San Fernando Valley condominium market during the COVID-era boom in 2022, you might remember how red hot the market was. Interest rates were artificially suppressed, buyers were scrambling, inventory was tight, and condos flew off the market in just over two weeks.
Fast forward to June 2025, and we’re in a dramatically different environment, one that’s calmer on the surface, but with underlying challenges both for condo owners and buyers.
Let’s Look at the Numbers: Then vs Now
Median Sale Price
- 2022: $596,000 (+15% YOY)
- 2025: $635,000 (+2% YOY) Despite higher rates, prices still edged upward, but the double digit gains are clearly in the rearview mirror.
Active Listings
- 2022: 379 condos (-5% YOY)
- 2025: 682 condos (+44% YOY) Inventory nearly doubled, giving buyers more options, but more supply also indicates longer selling times and softer demand.
Pending Sales
- 2022: 203 pending (-25% YOY)
- 2025: 98 pending (-39% YOY) Pending sales dropped sharply in both years, but the decline in 2025 is even more pronounced.
Days on Market
- 2022: 17 days (down 3 days YOY)
- 2025: 38 days (up 9 days YOY) Homes are now sitting more than twice as long, reflecting buyer hesitation and stricter affordability constraints.
Months of Inventory
- 2022: 1.6 months
- 2025: 5.5 months This jump in inventory signals a market shift from a strong seller’s market to a more balanced, or even leaning buyer’s market.
Year-to-Date Sales Volume
- 2022: $0.85B (-3% YOY)
- 2025: $0.52B (-12% YOY) Lower volume shows buyers are more selective, and fewer deals are closing.
Several macro and local factors are shaping this new market reality:
- Interest Rates: With rates back to pre-pandemic norms (or even higher), borrowing power is down, and monthly payments are up shrinking the buyer pool.
- HOA Instability: Many Los Angeles area condo communities are struggling with rising insurance premiums, deferred maintenance, and financial shortfalls, forcing dues higher, requiring special assessments and turning off buyers.
- Buyer Psychology: Today’s buyers are more cautious, budget conscious, and selective. They’re not racing to waive contingencies—they’re analyzing long-term value.
If You’re a Condo Owner: Now is the time to get ahead of any potential issues with your HOA. Rising dues, special assessments, or insurance hikes can significantly impact your resale value and marketability. I can help you evaluate whether it makes sense to sell now, rent out, or hold.
If You’re a Buyer: This could be your opportunity. With inventory up and competition down, you may finally have negotiating power again. But not all condos are created equal… HOA strength, reserves, insurance policies, and community management matter more than ever.
I’ve been helping condo owners and buyers in the San Fernando Valley for decades. Whether you’re weighing your options, considering an upgrade, considering a refinance, or simply trying to make sense of this new market call me for a no-obligation consultation. Let’s look at your specific situation and map out your best path forward.
Ron Henderson GRI, SRES, SFR, RECS, CIAS, CREN, GREEN
President/Broker
Multi Real Estate Services, Inc.
Gov’t Affairs Chair – Southland Regional Association of Realtors (2025)
Gov’t Affairs Chair – California Association of Mortgage Professionals (2017-2018)
Chairman – OutWest Marketing Meeting (Real Estate Education)
BRE #00905793 NMLS #310358
www.mres.com
ronh@mres.com
Specialist in the Art of Real Estate Sales and Finance
Real Estate market, mortgage rates, Los Angeles, San Fernando Valley, Conejo Valley, Simi Valley, Woodland Hills, West Hills, Calabasas, Chatsworth
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