This Week's Market Overview
The median list price for Sherman Oaks, CA 91423 is $2,624,499, with approximately 66 active properties and a Market Action Index at 34 — a slight seller's advantage. Inventory in this ZIP remains notably tighter than neighboring 91403, keeping conditions firmly in sellers' favor even as the broader market continues to moderate.
Market Action Index
Current MAI: 34 (Slight Seller's Advantage) | Last Month's MAI: 36
The MAI has eased from last month but remains in seller's territory. The dip reflects a modest uptick in inventory and slightly longer marketing times — not a shift in underlying demand, which stays solid for this highly desirable submarket.
Market Narrative
Sherman Oaks 91423 moves into early summer 2026 with fundamentals that continue to support seller confidence. Median sale prices are holding near $1.65 million — up slightly year-over-year — even as buyers have grown more selective and deliberate in their decision-making compared to the frenetic pace of 2022 and 2023.
The neighborhoods south of Ventura Boulevard remain the most coveted addresses in this ZIP, drawing consistent interest from families, move-up buyers, and buyers relocating from the Westside who want more home for their dollar without sacrificing neighborhood quality. Renovated homes with modern open layouts and strong outdoor spaces are moving the fastest and achieving the best pricing outcomes. Homes with dated interiors or deferred maintenance, by contrast, are sitting longer — buyers in 91423 are experienced and well-informed, and they know the comps. The condo and townhome segment is also active, providing accessible entry points for first-time buyers and downsizers alike.
Real-Time Market Profile
- Median List Price: $2,624,499
- Median Price of New Listings: $1,795,000
- Price per Sq Ft: $726
- Average Days on Market: 88
- Median Days on Market: 60
- % Price Decreased: 29%
- % Price Increased: 3%
- Relisted Properties: 15%
- Inventory: ~66 properties
- Median Rent: $6,550/month
Market Segments
| Median Price | Sq Ft | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $3,200,000+ | 4,000+ | 0.3–0.75 acre | 5–6 | 5–6 | 5–20 yrs | 2 | 1 | 100 |
| $2,000,000–$3,200,000 | 2,800–4,000 | 7,500–11,000 sqft | 4–5 | 4–5 | 15–40 yrs | 4 | 3 | 78 |
| $1,200,000–$2,000,000 | 1,800–2,800 | 5,500–8,000 sqft | 3–4 | 3–4 | 30–55 yrs | 6 | 5 | 60 |
| Under $1,200,000 | 1,100–1,800 | Condo/Townhome | 2–3 | 2–3 | 30–55 yrs | 3 | 3 | 45 |
Conclusion
Sherman Oaks 91423 remains one of the San Fernando Valley's most sought-after residential addresses, and the market continues to reflect that. While the pace has eased and buyers have more negotiating room than in peak years, demand for quality homes in this ZIP is durable and consistent. Sellers who price thoughtfully and present their homes professionally are still seeing strong outcomes — and buyers who act decisively on well-positioned properties are finding real value in a neighborhood that holds its appeal year after year.
Contact Information
Andrew: (818) 370-6121 | [email protected]
Fran: (818) 517-1411 | [email protected]
SEO Title: Sherman Oaks (91423) Real Estate Market Update – 6/7/26 | Spitz | Chavez Group
Meta Description: Get the June 7, 2026 Sherman Oaks 91423 real estate market update from Spitz | Chavez Group. Median list price $2,624,499, MAI at 34, tight inventory of 66 active listings. Expert insights from Andrew Spitz and Fran Chavez.
