The number of homes and condominiums listed for sale in the San Fernando Valley during the first three months of 2025 jumped higher than any year since 2019 while closed escrows declined slightly and prices of homes that changed owners in March continued to rise, the Southland Regional Association of Realtors reported.
The association reported 1,873 active single-family home listings on its Multiple Listing Service plus 533 condominiums. Active home listings in March were up 43.6% over a year ago and came in higher than any month since October 2022. Condominium active listings at 533 were up 40.3% over a year ago.
At its current trajectory, home listings are on pace to equal the total reported in 2019, just as the COVID pandemic gripped the nation. The initial three months of 2025 have posted combined home and condominium listing numbers that have not been seen since 2011.
“Local, state and national residential real estate markets are gaining momentum with the arrival of spring, yet market conditions remain murky due to the lingering impact of local wildfire tragedies in January and uncertainty over the direction of the national economy,” said Anthony Bedgood, President of the 10,000-member Southland Regional Association of Realtors.
“Continuing increases in home and condo listings suggest busy days ahead and provide an abundance of choices for prospective buyers and benefits for sellers,” Bedgood said. “The robust growth in listings is a reassuring sign for the market and an opportunity especially for buyers.”
The median price of homes that changed owners last month came in at $1.1 million, up 6.0% from a year ago, but below the record high $1.14 million first set in July and repeated this January. The condominium median price – meaning half the March sales had a higher price and half a lower price – was $602,000, down 2.1% from March 2024. The condominium record high $660,000 was set in July.
“A rise in active listings also translates into an increase in the months of inventory at the current pace of sales and the time each listing stays on the MLS before finding a buyer,” said Valerie Biletsky, SRAR’s Chief Executive Officer. “Both categories are on the rise.”
The 3.9-month inventory at the current pace of sales reported this March was closer to the 38-year average of 5.3 months, according to association statistics. That span saw the supply rise to 9.8 months in 2007 with the peak at a 16.5-month supply reported in 1992 — both periods of high inventory emerged because of deep national economic recessions. Over the last five years, the inventory has hovered at an average 2.6-month supply.
The association reported 486 homes closed escrows in March, down 7% from a year ago, while 138 condominiums changed owners, down 4%.
SRAR’s Income-to-Loan guide for January found that an income of $292,065 was needed to qualify for an 80% loan of $880,000 on a San Fernando Valley median-priced single-family home of $1.1 million. With the median price up and the national average interest rate at 6.92%, the income needed to qualify was up 7.1%. The monthly PITI — principal, interest, taxes and insurance payments — totaled $7,302.
ABOUT THE SOUTHLAND REGIONAL ASSOCIATION OF REALTORS®
Chartered by the National Association of REALTORS® in 1920, the Southland Regional Association of REALTORS® is the voice for real estate in San Fernando and Santa Clarita Valleys. With 10,000 members, SRAR serves as a trusted resource and partner to the real estate profession and the community at large. REALTORS® are dedicated to the highest standards of ethics and professionalism and committed to championing real property rights and pathways to homeownership for all. SRAR local market statistics are compiled from all available data share partner information accessible through CRMLS and may not represent complete activity for the San Fernando and Santa Clarita Valleys.
