January Woodland Hills Condo/Townhouse Real Estate Update

Kevin McDonald
Published on February 2, 2022

January Woodland Hills Condo/Townhouse Real Estate Update

Hello Fellow Friends and Neighbors,

January was another busy month for the Woodland Hills condo market. Many of the sales completed were higher than the previous month. Inventory also jumped up a lot from December. Demand is still very strong for Woodland Hills as most of the new inventory went into escrow very quickly. 

I’m still seeing the majority of landlord owners I speak to are still opting to sell instead of re-rent out their units as many feel that taking their equity into another investment makes more sense than the risks and work of being a landlord in today’s climate. Please feel free to reach out if you are interested in getting an idea of what your property could potentially be worth and see if exploring a sale is in your best interest. 

Thinking About Buying?

The environment for buyers looks to have improved a little bit as we were able to get multiple buyers in escrow that needed to sell their units first which was something that was much more difficult to do in prior months without really overbidding on a property. Feel free to reach out if you have any questions about current buying conditions. 

I’d recommend anyone who has their unit as a rental property contact me to discuss the market conditions before you decide to rent the property out for another year or sell. I’d love to help you make an informed decision with no pressure or obligation. This is why it is important to consult with someone who is an expert in the complex so you don’t waste time on the market at a price that the market will not respond to. I can also advise on what improvements can net you the best ROI when it comes time to sell. 

Southland Association of Realtors January 2022 

SFV Real Estate Highlights

2021 Sales Rise 18% Even With Record Prices and Near Zero Inventory

Sales of existing single -family homes and condominiums took off during 2021 even as resale prices hit record highs and inventory plummeted to unprecedented lows, the Southland Regional Association of REALTORS® reported today. At the end of December, there were a record 381 active home and condo listings for the entire San Fernando Valley. That number is shocking considering that in 2007 the average monthly listing tally was 6,633 and the record high set in July 1992 totaled 14,976 listings, according to the Association’s historical statistics. “By any measure, 2021 was an extraordinary year,” said Jeff Phillips, the 2022 president of the Southland Regional Association of REALTORS®. “Following the economic shutdown of 2020 and working with restrictions in the middle of an ongoing pandemic,” he said, “REALTORS® and their clients managed to post the first positive year for home and condo sales after three consecutive annual declines.” Local REALTORS® assisted buyers and sellers in 5,800 home and 2,126 condominium closed escrows during 2021 — an increase of 17.9 percent and 18.2 percent, respectively. Those transactions generated more than $8.0 billion for the local economy, not including the added jolt from landscaping, remodeling, and appliance and furniture purchases that typically accompany changes in ownership.

“Pent-up demand for housing combined with record -low interest rates on home loans brought buyers to the market in numbers,” said Tim Johnson, the Association’s chief executive officer. “Multiple offers were common as buyers scrambled to get into a home, pushing prices up along the way.” Association statistics put the annual home price at a record high of $918,983, an increase of 16.8 percent over 2020. The annual local home price has risen every year since 2012, an unprecedented string of yearly hikes that started with the price at a low of $363,117. San Fernando Valley home prices peaked during the boom before the Great Recession at $611,933 in 2007, then fell 28.6 percent in 2008 with three subsequent annual declines before taking off in 2011. “Few people expected Valley home prices to ever come near the $1 million mark,” Phillips said, “yet that appeared likely in mid -2021 as inventory came not even close to meeting demand for housing while buyers kept bidding prices higher.” Similarly, condominium resale prices went through the same boom -bust -boom cycle as homes. Peaking at $394,917 in 2006, the condominium annual price dropped by double digits in 2008 and 2009 as it headed to its low point of $217,367 in 2011, only to rise again the following year and in each of the subsequent years. Compared to 2020, the condominium annual price jumped 13.8 percent last year to a record $535,167. The 381 active listings reported at the end of December were down 45.6 percent from a year ago.

At the then current pace of sales, that represented a mere 0.6-month supply, which itself was a record low and only the second time it has ever been less than a 1-month supply. “The expectation is that 2022 will be a solid year for local home sales,” Johnson said. “But now there are more obstacles — rising though still favorable rates, a resurgence of Covid, an inventory that is exceptionally tight and, of course, higher consumer prices on everything from gasoline to food.” Pending escrows, a gauge of future real estate activity, at the end of December totaled 449, which was down 21.2 percent from a year ago. 

The Southland Regional Association of REALTORS® is a local trade association with 11,000 members serving the San Fernando and Santa Clarita Valleys. SRAR is one of the largest local associations in the nation.

We are here to help you! Each complex is different! If you are interested in getting more information about your complex please feel free to contact me at [email protected] or 818-256-7514 if you have any questions. 

Woodland Hills Condo/Townhouse Inventory Level Today:

13 Active Listings 

18 Listings in Escrow

Link to Current Inventory and Properties in Escrow:

Current Woodland Hills Condo/Townhouse Inventory


JANUARY 25 17 14


DECEMBER 10 13 18
NOVEMBER  13 19 23
OCTOBER 19 16 22
SEPTEMBER 22 24 14
AUGUST 24 22 21
JULY 25 19 22
JUNE 18 18 21
MAY 23 22 19
APRIL 15 17 19
MARCH 25 25 18
FEBRUARY 24 22 30
JANUARY 21 37 30

JANUARY Woodland Hills Condos/Townhouses Sold:

5515 Canoga AVE   #218 $500,000 $520.83 2/2 960
5520 Owensmouth    $535,000 $587.91 2/2 910
5520 Owensmouth AVE   #107 $555,000 $603.26 2/2 920
5525 Canoga AVE   #317 $545,000 $598.90 2/2 910
21500 Burbank BLVD   #114 $500,000 $543.48 2/2 920
6209 Nita AVE   $670,000 $441.08 2/3 1519
21650 BURBANK #303 $660,000 $537.02 2/2 1229
21901 Burbank BLVD   #200 $800,000 $419.95 3/3 1905
5540 Owensmouth AVE   #312 $579,000 $562.14 2/2 1030
21301 Erwin ST   #535 $475,000 $730.77 1/1 650
23011 Del Valle ST   #5 $580,000 $439.39 3/3 1320
21551 Burbank BLVD   #90 $650,000 $467.63 2/3 1390
21900 Marylee ST   #249 $740,000 $435.55 3/3 1699
5530 Owensmouth AVE   #118 $387,500 $635.25 1/1 610

Latest Customer Testimonial:

 I used Realtors Kevin McDonald and Kevin Godley to sell my townhome in Woodland Hills, CA in July 2021. I began speaking with Kevin in April 2021 as I had a bit of a complicated situation in that I wanted to put my house on the market but I needed it done with a closing date that was a couple of months later. Kevin provided sound advice on when to put the house on the market, how best to price according to market, provided a photographer, visited the home to make suggestions on decluttering and staging, and used a super efficient lock box system. There were many showings and Kevin coordinated every visit to make sure I was going to be available to leave for the showing. He confirmed every showing via text and made sure to provide me a summary of the showings daily. Selling a home and moving is a stressful process and Kevin was my emotional support throughout especially when there was a water leak only a week before closing date. Kevin and Kevin handled the sale of my home excellently and if I were still in the area I would use them again for my next home. Thank you Kevin and Kevin!

-Natasha B., Sold 2 Bedroom Woodland Hills Townhouse with Kevin & Kevin

At Your Service,

Kevin McDonald & Kevin Godley

The 818 Life


Pinnacle Estate Properties


[email protected]

Lic# 01810388/01216088


If your property is currently listed with another Broker, this is not intended as a solicitation of that listing. This information is based on all homes closed in “Woodland Hills” as reported through the Southland Regional Association of Realtors multiple listing service.   

Want to View Some Homes on the Market?? Want to View a Different Area? Contact me at 818-256-7514.

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If your property is currently listed with another Broker, this is not intended as a solicitation of that listing. This information is based on all homes closed in “Woodland Hills” as of 2/2/2022 reported through the Southland Regional Association of Realtors multiple listing service. Not all listed homes are represented by Kevin Mcdonald, Kevin Godley and Pinnacle Estate Properties.