Southern California’s condominium market is experiencing its slowest sales pace in over two decades, with 41,300 units sold in the year-long period ending in April, according to a report from Attom. This volume sits 25 percent below the region’s local average, as the combination of high prices, stagnant wage growth, and inflationary pressures creates a cooling effect across Los Angeles, Orange, Riverside, San Bernardino, San Diego, and Ventura counties, the Daily Breeze reported.
Market Stagnation Amid Regional Economic Headwinds
While the median condo list price in Southern California hit $685,000 in April—the eighth-highest level on record—price appreciation has stalled. Over the past four years, condo values have risen only 2 percent, a stark contrast to the 47 percent increase seen in the four-year period prior, per Attom data. This slowdown occurs as broader economic indicators show signs of fatigue. The Daily Breeze reports that regional job growth is currently 92 percent below its 10-year average, and wage raises have fallen to their lowest levels since 2018. Furthermore, the Orange County Register noted that inflation has reached its fastest pace of the year, driven in part by a surge in gas prices following the Iran war.
Diverging Trends Across Southern California Counties
The regional downturn is not uniform, as local markets show varying levels of activity. In Los Angeles County, 15,300 transactions were recorded in the 12-month period ending in April, trailing the 22-year average by 30 percent. Pricing in the county remains 6 percent below the peak reached in June 2025. Orange County’s median price remains near $1.4 million—just 0.4 percent below its February 2025 high—yet sales volume is 27 percent below average. Ventura County shows a similar pattern, with a median price of $950,000, or 0.3 percent below its November 2025 high, and sales 23 percent below average. The Inland Empire also reflects this cooling; San Bernardino County sales are 21 percent below average, while Riverside County sits 5 percent below its local county average.
Economic Context and Future Outlook
The widening gap between condo and single-family home prices remains a point of interest for market observers. As of April, the median single-family home price in Southern California stood at $881,000, or 22 percent higher than the median condo price.
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