Let’s just say May didn’t pull any punches when it came to shaking up the San Fernando Valley housing market. Whether you’re a buyer, seller, or just watching from the sidelines, the numbers speak loud and clear there’s plenty shifting beneath the surface.
Condominiums: Sales Cool, Inventory Warms Up
We saw 630 active condo listings, a massive 39% jump compared to last year, and 270 new listings, which is also up (+8% YOY). More properties are hitting the market, but the buyers? There’s plenty of inventory to choose from, and we’re in the Spring buying season, but they’re on pause. Economic uncertainty is the story these days. There are also the HOA issues that I’ve blogged about previously in the way of transactions.
- Pending sales were down a steep 54%, and closed sales dropped 21%.
- Median sale price came in at $610,000, a 6% drop year over year.
- It’s taking longer to get offers average days on market rose to 45 days, up 22 from last May.
The takeaway? Condos have issues right now. Buyers are being cautious, rates are still affecting affordability, and sellers are needing to price aggressively to get traction. Inventory buildup like this is worth watching it could keep pushing prices down unless demand picks up. If considering buying a condo, definitely do a full evaluation of the HOAs finances and READ the last few months of minutes.
Single-Family Homes: Prices Holding, but Demand’s Lighter
On the single-family side, the trend’s similar but not quite as sharp. Inventory also climbed 2,158 active listings is a 29% YOY increase, and new listings ticked up 6%.
- Pending sales were down 32%, and closed sales dipped 10%.
- Median sale price for an SFH: $1,060,000, down 4% year-over-year.
- Average days on market is historically decent at 30 days, slightly longer than last year. The 4 months of inventory is getting close to the historic norm, and solid balance between buyer/seller.
- Properties priced and show well can still have multiple offers. Poorly priced properties, or those that have issues can sit with little activity.
Unlike the condo segment, single-family homes are holding pricing better, likely because inventory still feels tighter relative to demand in desirable pockets. But make no mistake sellers are working harder to justify their price tags.
What Does It All Mean?
In a word: uncertainty. Inventory is up across the board. Even the Federal Reserve doesn’t have a clue on what’s going to happen with tariffs and tax policy. Rates, inflation concerns are keeping buyers hesitant, especially first timers and investors in the condo market. If you’re selling, it’s more important than ever to price realistically and prep the home well today’s buyer expects value.
If you’re a buyer? This could be your window. Selection is growing, and sellers are more open to negotiation than they’ve been in a while. Just make sure you’re pre-approved and working with someone who understands how to position an offer in a shifting market.
Need a personalized read on your neighborhood or want to discuss your options in this market? I’ve been doing this for close to 40 years—I’m happy to walk you through the real story behind the stats.
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)
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
Leave a Reply