Condo Sales in Southern California Slow to Recover

Condominiums in Southern California are experiencing a significant drop in sales compared to previous years.

Over the one-year span concluding in April, 41,300 condos were sold in Southern California, marking the slowest sales momentum in over 20 years and now positioned at 25 percent below the regional average, according to the Daily Breeze reported, referencing a report from Attom. This analysis included both new and existing condo sales across Los Angeles, Orange, Riverside, San Bernardino, San Diego, and Ventura counties.

The median condo list price in Southern California hit $685,000 in April, which is the eighth-highest recorded price. In comparison, the median price of single-family homes was markedly higher at $881,000, reflecting a 22 percent increase. However, the price growth for condos has stagnated, with values rising only 2 percent over the last four years, a stark contrast to the 47 percent surge during the four years prior.

At the same time, job growth in Southern California has plummeted to 92 percent below the 10-year average, as reported by the Daily Breeze. Wage increases in the area are at their lowest since 2018, and inflation has surged to its highest this year following rising gas prices due to the Iran conflict, according to the Orange County Register reported.

The six counties in Southern California present varied narratives regarding their condo markets.

Los Angeles County recorded 15,300 transactions in the year leading up to April, 30 percent below the 22-year mean, with pricing remaining 6 percent under the peak observed in June 2025. In Orange County, the second-highest median price was noted at nearly $1.4 million, just 0.4 percent below a peak set in February 2025, with total transactions 27 percent below average at 7,250. Ventura County recorded its third-highest median price at $950,000, merely 0.3 percent under its November 2025 peak, while sales were 23 percent below average.

The Inland Empire also faced challenges, with condo sales in San Bernardino County at 21 percent below average, and Riverside County’s sales fare only slightly better, falling 5 percent below the local average.

— Chris Malone Méndez