The median price of single-family homes that changed owners during June in the San Fernando Valley hit a record high, while sales of homes and condominiums also increased, the Southland Regional Association of Realtors reported today.
The median price of $1,188,000 was up 3.3% from a year ago, breaking the prior record high of $1,150,000 established in June and again in September 2025. With only one exception, every month since June 2023 has posted a median price above the $1 million benchmark with the trendline pointing higher now that the median is above $1.1 million. The median price means half the homes that closed escrow last month were higher priced and half were lower priced.
The association also reported that the condominium median price for June came in at $600,000, down 5.5% from 12 months ago. The condo high point came in April with a median price of $665,000.
“Median prices follow seasonal trends and typically peak in May or June, even so it’s surprising to see homes set a record high,” said Nicole Stinson, President of the 10,000-member Association. “While activity was not as brisk as expected, it’s encouraging to see substantial increases in closed escrows.”
Local Realtors assisted the close of escrow on 567 single-family homes in the San Fernando Valley last month. That was up 5.8% from a year ago, though sales remain below pandemic and pre-pandemic levels.
Condominiums that closed escrows for June totaled 171, up 32.6% from June 2025. For comparison, 308 condominiums changed owners in April 2021 while the historical record high of 524 condo sales was set in July 2004.
“Regardless the market or where it’s headed – and there are plenty of uncertainties floating around today – people always want and will buy homes and condominiums. There’s always demand if there is supply,” said Valerie Biletsky, the association’s Chief Executive Officer. “I have no doubt homes sales would be much stronger if interest rates fell and prospective homebuyers and sellers were more confident of what lies ahead.”
The association reported 1,904 active single-family listings, down 18.3% from a year ago. The 911 active condo listings fell 5.8% compared to June 2025.
The 503 home and condominium pending escrows were down 26% from June 2025.
SRAR’s income-to-loan guide for June found that an income of $152,195 was needed to qualify for an 80% loan of $480,000 on a San Fernando Valley median-priced condominium of $600,000. With the national average interest rate up to 6.36% during June – compared to January 2022’s 2.97% and below the 7.56% of December 2023 – the income needed to qualify fell 8.2% compared to a year ago. The monthly PITI — principal, interest, taxes and insurance payments — totaled $3,805.
The Southland Regional Association of Realtors recently expanded its First-time Homebuyer Grant Program, increasing income limits to make the program accessible to more prospective buyers. In partnership with the California Association of Realtors Housing Affordability Fund, the cash grants provide financial assistance to eligible homebuyers by offsetting ownership-related expenses.
The $1,000 grants will be awarded to qualified first-time owner occupants until all available funds are awarded. Only a few grants are still available. Income limits and other conditions apply. Go to Grants on SRAR.com or email Maritzar@srar.com for details and questions.
