Sherman Oaks, CA 91423 Real Estate Market Report
ZIP Code: 91423
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.
Market Overview
This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.
Market Metrics
Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.
Rental Market
Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.
Property Taxes
Liquidity & Velocity
Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.
Market Trends & Context
Understanding Market Temperature
A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.
Current Mortgage Rate Context
Market-level mortgage rate comparison for this area:
Current 30-year fixed mortgage rates in Sherman Oaks, CA, average 6.37%, which is 0.5% higher than the 5.87% market average observed in February 2026.
Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.
Key Findings
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median sold price: $1,799,000 is the most reliable indicator of current market value and recent transaction activity in Sherman Oaks and suggests modest appreciation consistent with a stabilized market; neutral market temperature and a flat price year-over-year trend support this interpretation.
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There is a noticeable gap between median listing price: $2,096,500 and the median sold price, which may indicate pricing friction where seller expectations exceed recent transaction levels and give buyers incremental negotiating leverage.
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The market shows slower sales velocity as evidenced by a long median days on market: 362, which likely reflects longer marketing times and softening transaction pace rather than acute distress.
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Interest-rate dynamics are an added headwind: reported local 30-year fixed mortgage rates average 6.37% (about 0.5% higher than the referenced 5.87% market average), and combined with moderate interest rate pressure and flat rent growth (median market rent: $2,795, rent year-over-year trend: flat), investors and owner-occupiers may face tighter financing affordability near-term.
Notable Properties
The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.
Recent Transactions
Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.
Sold above market average
Sold above market average
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Sold below market average
Sold below market average
Sherman Oaks, CA 91423 Real Estate Market Report
ZIP Code: 91423
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on condominium properties. Metrics are calculated from recent condo sales and active listings within the past 90 days.
Market Overview
This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.
Market Metrics
Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.
Rental Market
Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.
Property Taxes
Liquidity & Velocity
Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.
Market Trends & Context
Understanding Market Temperature
A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.
Current Mortgage Rate Context
Market-level mortgage rate comparison for this area:
Current 30-year fixed mortgage rates in Sherman Oaks, CA, average 6.37%, which is 0.5% higher than the 5.87% market average observed in February 2026.
Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.
Key Findings
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The primary market indicator, the median sold price of 672,000, points to the representative recent sale level in Sherman Oaks and anchors valuation expectations for both SFR and condominium segments; with the market temperature described as neutral, this suggests neither extreme seller nor buyer dominance.
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There is a meaningful juxtaposition between the median listing price of 605,000 and the median sold price of 672,000, which may indicate pricing friction between seller expectations and completed transactions and appears to give buyers modest negotiating leverage.
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The median days on market of 402 signals slower sales velocity and suggests extended marketing periods are common; combined with the sample-based characterization of relatively constrained active supply, this may indicate careful buyer selection and a selective transaction cadence.
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Macro headwinds are present: reported average 30-year fixed mortgage rates of 6.37% in Sherman Oaks, together with moderate interest rate pressure, may be a restraining factor on buyer affordability even as rent trends remain flat with a median market rent of 3,150 and a median price per square foot of 488.
Notable Properties
The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.
Recent Transactions
Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.
Sold above market average
Sold at market average
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Sold at market average
Sold above market average
Investment Analysis
Compare rental income potential against ownership costs and benchmark against market averages.
Monthly rental income vs estimated ownership cost
20% down, 6.3% rate, 0.9% tax
Avg nightly rate and occupancy for this ZIP
Data Sources
Real estate market data & public records, and GemHaus® proprietary models.
Report generated: 5/1/2026
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