Bottom falls out of SoCal condo market as prices plummet
Condominium prices in Southern California have dropped to their lowest level in over 12 years, with a 6% year-over-year decline to a median of $656,000 in February 2026. Los Angeles saw a 4.5% monthly drop in condo prices in March, marking ten consecutive months of year-over-year declines. The growing condo inventory, up 17.7% year-over-year, contrasts with more stable single-family home prices, which fell only 1.8%.
- ▪The median condo price in Southern California's six major counties was $656,000 in February 2026, down 6% from the previous year's peak of $699,000.
- ▪Los Angeles condo prices fell 4.5% year-over-year in March 2026, compared to a 1.8% decline for single-family homes.
- ▪Condo price reductions on Zillow ranged from $6,000 to $50,000, with significant cuts in units across Reseda, Torrance, and the Miracle Mile.
- ▪Year-over-year condo prices in Los Angeles have declined for ten consecutive months, averaging a 4% monthly drop.
- ▪There was a 17.7% year-over-year increase in LA condo inventory compared to single-family homes, potentially contributing to the price decline.
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Real Estate LA condo prices nosedive by 6% — the lowest in 12 years By Katie Jerkovich Published April 28, 2026, 6:51 p.m. ET There’s great news for those seeking a place to live in Southern California with the prices for condominiums in the area dropping to their lowest point in more than 12 years. The median home sale price in February for a condo in the six major counties came it at $656,000, according to data obtained by the Pasadena Star News from the real estate property tracking site ATTOM. That price is down by 6% compared to last year when condos hit a peak of $699,000, according to the outlet. 5 Great news for those seeking a place to live with the prices for condominiums in the area dropping to its lowest in more than 12 years.
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