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The Calabasas headline numbers for 2026 look strong. Through September 3, 143 single-family homes have closed, up from 134 in the same window last year. Dollar volume is up 21% to $398 million. The median sale price is $2.01 million, almost exactly where it was in 2025.
Those numbers hide what is actually happening on the ground. Calabasas is not one market. It is four, and each one is behaving differently this year. Here is the breakdown by price range, using closed MLS sales from January 1 to September 3 in both years.
Under $1.5 Million: Stalled, Not Falling
32 homes sold, down 22% from 41. Median price $1.28 million, unchanged. Price per square foot $627, unchanged. Median days on market 33, up from 29.
Prices in the entry tier have not moved. What changed is time. One in four of these homes took 90 days or more to sell this year. Last year it was one in fourteen. Buyers are here, mostly in Mulwood, Calabasas Highlands, and the Lost Springs area, but they are disciplined. A home priced at the last comparable sale still moves. A home priced above it sits.
$1.5 Million to $2.5 Million: Busy, But Soft
63 homes sold, up 40% from 45. Median price $1.90 million, down 2%. Price per square foot $687, down from $704. Median days on market 33, up from 17.
This is where Calabasas is doing business in 2026. It is the largest tier by a wide margin and the only one with real growth in closings. But the price line is slipping. Median price is down 2%. Price per square foot is down 2%. The median time to sell doubled. Last year 47% of these homes sold within two weeks. This year it is 35%. More buyers are transacting, and they are doing it with less urgency and more leverage. Calabasas Park Estates, Calabasas Hills, and the Park streets off Parkway Calabasas make up most of this tier.
$2.5 Million to $3.5 Million: The Weak Spot
14 homes sold, down 36% from 22. Median price $2.70 million, down 9% from $2.96 million. Price per square foot $698, down 3%. Median days on market 30, down from 44.
This is the softest tier in the city. Closings dropped by more than a third and the median price fell 9%. The days on market figure looks like good news but it is not. The homes that sold this year were the ones priced correctly from day one, so they moved quickly. The homes priced to 2024 values are not in this data because they have not sold. In this range, the market has split into homes that sell fast and homes that do not sell at all.
$3.5 Million and Up: More Sales, Longer Timelines
34 homes sold, up 31% from 26. Median price $5.12 million, up 21%. Price per square foot $874, down from $905. Median days on market 52, up from 37.
The luxury tier drove the headline volume. Dollar volume here is up 58%, and the median price jumped on the strength of a $14.2 million and a $10.5 million sale in The Oaks. Do not read that as rising prices. Price per square foot fell 3%. Median days on market rose from 37 to 52. And 38% of these homes took 90 days or more to close, compared to 12% last year. Buyers at the top of the market in The Oaks, Mountain View Estates, and Hidden Hills are active. They are also patient, and they are paying their number, not the seller’s.
What This Means If You Are Selling in Calabasas
Every tier tells the same story in a different way. Buyers are present at every price point. Prices per square foot are flat to slightly down across the board. Homes are taking longer to sell, and the gap between correctly priced homes and overpriced homes is wider than it was a year ago.
The homes that sold in 14 days this year were not lucky. They were priced to the current comps, fully prepared before the first showing, and marketed hard in the first two weeks. The homes that passed 90 days almost always started too high and chased the market down.
If you own a home in Calabasas or Hidden Hills and want to know exactly what it would bring today, in this market, at your price point, I will run the numbers for your street and your neighborhood. No obligation. Reach me at 818.970.2946 or David@DavidWatkins.com.
David Watkins, Compass, DRE #01307458. 25+ years of experience in Calabasas and Hidden Hills. Source: MLS closed single-family sales, City of Calabasas, January 1 through September 3, 2025 and 2026. Information deemed reliable but not guaranteed.
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