San Fernando Valley Housing Market: Fewer Homes, Price Cuts
Published on October 22, 2026 by Leegie Parker
Leegie Parker | Real Estate Advisor | DRE 01020534 | Compass | Leegie.com
Quick Answer The San Fernando Valley housing market had 675 houses for sale across Calabasas, Woodland Hills, Tarzana, Encino, and Sherman Oaks on October 19, 2026, down from 713 a week earlier. At the same time, 26% to 36% of the active listings in those communities show an asking-price reduction. Well-priced homes are going into escrow, while overpriced homes are sitting and adjusting. |
The San Fernando Valley housing market has fewer homes for sale this week than last, and a big share of the homes still on the market have cut their asking price. Across Calabasas, Woodland Hills, Tarzana, Encino, and Sherman Oaks, there were 675 houses available as of October 19, 2026, compared with 713 on October 12. That is 38 fewer homes in a single week.
I saw this firsthand last week. I had clients fly in from the UK to look at homes along the Ventura Boulevard corridor, from Tarzana all the way to Studio City. We built a list together before they got on the plane, and by the time they arrived, at least five of the homes on that list had gone into escrow.
So which is it? Is the market slowing down, or are homes getting snapped up? The answer is both, depending on the home. Here is what the numbers, and my own week in the field, are telling me.
How many homes are for sale in the San Fernando Valley right now?
As of October 19, 2026, there were 675 houses for sale across Calabasas, Woodland Hills, Tarzana, Encino, and Sherman Oaks, down from 713 the week before. Every one of the five communities lost listings, led by Woodland Hills with 13 fewer homes and Tarzana with eight fewer.
Community | Houses for sale (Oct 19) | Week before (Oct 12) | Median asking price | Median days listed | Listings with a price cut |
Calabasas | 88 | 91 | $2,972,500 | 116 | 36% |
Encino | 159 | 166 | $3,399,000 | 84 | 33% |
Sherman Oaks | 132 | 139 | $2,699,500 | 70 | 30% |
Woodland Hills | 218 | 231 | $1,609,394 | 63 | 29% |
Tarzana | 78 | 86 | $2,699,499 | 67 | 26% |
Total (5 communities) | 675 | 713 | n/a | n/a | n/a |
Houses only, no condos. Snapshots of active listings on October 12 and October 19, 2026. Prices are asking prices on active listings, not completed sales.
A few things stand out to me. Woodland Hills still has the biggest selection in the corridor by far, with 218 houses and the shortest median listing time at 63 days. Calabasas homes are sitting the longest, with a median of 116 days on the market. If you are weighing these communities against each other, my post comparing Tarzana, Encino, and Woodland Hills walks through how each one feels day to day.
One caution: a lower count does not mean all 38 homes sold. Some went into escrow, like the five on my UK clients' list, and others may have been taken off the market. Either way, buyers have fewer choices this week.
Why are so many Valley sellers cutting their asking price?
Between one in four and one in three active house listings in these five communities show an asking-price reduction, a sign that many sellers started higher than buyers were willing to go. Calabasas leads at 36%, followed by Encino at 33%, Sherman Oaks at 30%, Woodland Hills at 29%, and Tarzana at 26%. In Encino, that share rose from 30% the week before.
I tell every seller I work with the same thing: buyers decide what your home sells for. Not your agent, not the comps, and not the number you need to make your next move work. The comps give us a starting point. The buyers tell us whether we got it right.
Keep in mind that these are asking prices, not sale prices. A 30% reduction rate does not mean home values fell 30%. It means about three in ten sellers still on the market have lowered their list price, by amounts that vary home to home.
What happens when a Valley home is finally priced right?
When a home is priced where buyers see value, buyers show up, even after months of sitting. I just watched this happen in Tarzana.
This past weekend, I represented buyers on a Tarzana home that had been on the market for more than six months. The sellers made their last price reduction at the start of August. Then, all of a sudden, there were three offers on the table. I am happy to say my clients' offer was accepted, and we just opened escrow.
The buyers were out there the whole time, waiting for the price and the home to line up. Once they did, a home that had sat for months drew three offers.
Here is the part sellers do not love hearing: those months on the market cost something. Every month a home sits means another mortgage payment, more property taxes, more insurance, and more upkeep, all while buyers wonder why it has not sold.
What does the San Fernando Valley housing market mean for sellers?
For sellers, this market rewards getting the price right from day one. Fewer homes on the market works in your favor, but only if your home is priced where buyers see value.
Here is what I would focus on:
• Price against what is for sale today. Your real competition is the active listings buyers are touring this weekend, not what sold in the spring.
• Study the reductions near you. If a similar home down the street has cut its price twice, that tells you something about where buyers are.
• Prepare before you list. Buyers notice deferred maintenance right away, and it gives them a reason to offer less. Take care of the major systems and small repairs first, and keep any updates neutral.
• Ask your agent how they approach pricing. You want someone who tells you what the market is saying, even when it is not what you hoped.
I walk through the whole process in my guide to selling a home in the San Fernando Valley or Westside. I also put together a seller prep guide that covers what to fix, what to leave alone, and how to get your home ready before it goes on the market. You will find it at the end of this post.
What does this market mean for buyers?
For buyers, all these price reductions mean there is room to negotiate on homes that have been sitting, but well-priced homes are still moving fast. My UK clients learned that one quickly.
• Ask about the homes that have been sitting. If a home has been listed for 60 days or more and has already cut its price, the seller may be more open to a conversation.
• Be ready to move on the good ones. If a home is new to the market and priced right, have your financing lined up before you tour it.
• Expect your list to change. In one week, five homes left my clients' list. Check in with your agent the day before you go out, not the week before.
If you are just getting started, my guide to buying a home in the San Fernando Valley and Westside is a good place to begin, and I am happy to send you my Buyer Roadmap. Just ask.
Frequently Asked Questions
Are home prices dropping in the San Fernando Valley?
Asking prices on some homes are coming down, but that is not the same as home values falling across the board. As of October 19, 2026, between 26% and 36% of active house listings in Calabasas, Encino, Sherman Oaks, Woodland Hills, and Tarzana showed an asking-price reduction. Those reductions reflect individual sellers adjusting to what buyers will pay, and well-priced homes are still drawing multiple offers.
Does a price reduction mean a home is a bad deal?
No. A price reduction usually means the home was first listed higher than buyers were willing to pay, not that something is wrong with it. Some of the best opportunities for buyers are reduced homes that are now priced in line with the market. As with any home, review the inspections and disclosures carefully before you commit.
Which San Fernando Valley community has the most homes for sale?
Woodland Hills has the most houses for sale of the five communities, with 218 active listings as of October 19, 2026. It also had the shortest median listing time, at 63 days. Encino was second with 159 houses, followed by Sherman Oaks with 132.
Key Takeaways • Across Calabasas, Woodland Hills, Tarzana, Encino, and Sherman Oaks, 675 houses were for sale on October 19, 2026, down 38 from the week before. • Between 26% and 36% of active house listings in those five communities show an asking-price reduction, led by Calabasas at 36%. • Price reductions describe asking prices on active listings, not falling home values. • Well-priced homes are moving: a Tarzana home that sat for more than six months drew three offers once the price lined up with what buyers would pay. • Sellers do best pricing against today's active competition, and buyers have room to negotiate on homes that have been sitting. |
Getting Ready to Sell? I put together a seller prep guide that walks through what to fix, what to skip, and how to get your home ready before it goes on the market. If you would like a copy, drop your email here and I will send it right over. |
Thinking about buying or selling in the San Fernando Valley or on the Westside of Los Angeles? I would love to hear from you. Call or text me at 310-739-9202, or email Leegie@Leegie.com. I will give you a current look at how your home, or the homes on your list, compare with what is on the market right now.
Leegie Parker
Real Estate Advisor, Compass
DRE 01020534
310-739-9202 | Leegie@Leegie.com | Leegie.com
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