What September’s Numbers Mean for the San Fernando Valley

The Valley median dipped under $1 million in September. A few people have already asked me if prices dropped. Short answer: not really.

Here is what the numbers show. Based on 407 closed sales, the Valley-wide median was $950,000, down from $1,007,500 in August. But single-family homes on their own barely moved: $1,170,000 versus $1,182,500, about 1.1%. That’s normal month-to-month noise.

So why the bigger drop? Mix. Fewer high-end homes closed in places like Encino, Studio City and Calabasas, which pulled the overall median down. A different set of homes sold, not a lower price on the same homes.

What I’d pay attention to instead:

Pricing decides how long you wait. Homes that sold without a price cut took a median of 19 days. Homes that needed a cut took 67 days, and the typical cut was about $50,000.

Concessions are common. About 57% of sales included a seller credit, with a median around $26,000. If you’re selling, plan for that in your net sheet from day one.

The Valley is two markets. Entry-level areas like Panorama City, Reseda and Lake Balboa are still selling at or near asking. Higher-priced areas like Tarzana, Studio City and Sherman Oaks are seeing more negotiation.

Encino held up fine. 50 sales, a median of $1,525,000, and homes took about 24 days to sell.

If you’re selling: price for the last 30 days, not last spring. Your first price is your most important decision.

If you’re buying: you have more room to negotiate than you’ve had in a while. Ask about seller credits, and look closely at homes that have been sitting 45 days or more.

A Valley-wide number can’t tell you much about one specific house. What matters is your street, your home’s condition, and what closed nearby recently.

The figures above come from a September 2026 Valley market update by Zac Wasserman of RE/MAX ONE (zacsellsca.com), based on MLS closed sales for September 1-30. Numbers vary a bit by source and area, so treat them as a guide.

If you’re curious what your home would sell for in today’s market, reach out through the contact page. No pressure, just a straight answer.