As we wrap up 2025, I want to break down what’s really going on in the San Fernando Valley housing market. The big takeaway: single family homes and condominiums are behaving very differently, and lumping them together doesn’t tell the full story.
Single Family Homes: Still Holding Their Ground
Single family homes continue to be the most stable segment of the market.
- Median sale price: $1,100,000, up 8% year-over-year
- New listings: 574, down 6% YOY
- Active listings: 1,729, down 7% YOY
- Closed sales: 394, down 18% YOY
- Average days on market: 41 days, about 10 days longer than last year
- Months of inventory: 4.4 months
There are fewer homes coming on the market, fewer homes selling, some of that is seasonal… yet the median prices are still higher than a year ago. That’s a mathematical reflection of fewer lower priced starter homes being sold.
Buyers are more cautious and more payment sensitive, but well located, properly priced homes are still selling. Homes that miss the mark on pricing or condition are sitting longer, which is why we’re seeing days on market creep up. Sellers have the option of aggressively pricing and potentially getting the house sold as it comes on the market… or “test” the market with a price, and then sit on the market with little activity and have to take price reductions.
This is not a distressed market, it’s a more selective market. A very balanced market between buyers and sellers.
Condominiums: A Very Different Set of Pressures
The condo market is where things really start to diverge.
- Median sale price: $649,000, up 14% YOY
- New listings: 222, up 28% YOY
- Active listings: 821, up 42% YOY
- Pending sales: 105, down 5% YOY
- Closed sales: 144, up 7% YOY
- Months of inventory: 5.7 months
On paper, condo prices are up nicely year-over-year. But at the same time, inventory has jumped significantly, and that’s not happening by accident.
A big part of this is HOA pressure.
Across many condo projects, we’re seeing:
- Higher insurance costs
- Reserve accounts being re-evaluated or depleted
- HOA dues increasing, sometimes sharply
- Complexes not qualifying for conforming loan programs
- Special assessments broadsiding owners
For many buyers, especially first time buyers, the issue isn’t just the purchase price, it’s the total monthly payment once HOA dues are added in. That’s become a real friction point.
On top of that, lenders are taking a much closer look at HOA financials. Some buildings are harder to finance than they were just a few years ago, which limits the buyer pool and slows absorption.
There may be reasons why the “cheaper” condo on the market is “cheaper”. When evaluating the purchase of a property with an HOA “READ” the financials, CC&Rs, Bi-Laws and minutes. That cheap condo may cost “a lot” in the long run.
Interest Rates: Stable, But Affordability Is Still the Issue
Interest rates have been relatively stable, especially compared to the swings we saw in prior years. But stable doesn’t mean easy.
Between home prices, rates, insurance, taxes, and HOA dues, affordability remains the biggest challenge, particularly in the condo market. Buyers are doing the math, and they should be.
What I’m Seeing Heading Into 2026
From where I sit in the market every day:
- Single family homes continue to benefit from limited supply
- Condos are facing structural headwinds tied to HOAs and insurance
- Buyers are active, but far more analytical and cautious
- Pricing correctly from day one matters more than ever
- The market is slower, but it’s not broken
The San Fernando Valley market is not one market. It’s multiple markets moving at different speeds, with different pressures.
Understanding those differences, especially between single family homes and condominiums is critical whether you’re buying, selling, or simply planning ahead for 2026.
If you’re trying to figure out how these trends apply to buying, refinancing, selling, or just some info on a specific neighborhood, property type, or HOA, always feel free to discuss the scenario with me.
If you are in the Los Angeles area, and have any questions or real estate sales or financing needs, feel free to contact me
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)
DRE #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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