Downsizing in the southern San Fernando Valley: single-level homes, condos and 55+ options

If you are thinking about moving to something smaller in Encino, Tarzana, Sherman Oaks, Studio City or Woodland Hills, you have three realistic options: a single-level house, a condo or townhome, or a 55+ community. This guide shows what each option has actually cost over the last 12 months, so you can plan the sale and the purchase together.

## Single-level houses

From November 2025 to October 2026, 1,043 of the 1,705 single-family homes sold in these five cities were single-level. The median price was $1,525,000 and the median size was 2,028 square feet. By city:

Encino: 177 single-level sales, median $1,720,000. Sherman Oaks: 280, median $1,510,000. Studio City: 111, median $1,925,000. Tarzana: 105, median $1,500,000. Woodland Hills: 370, median $1,270,000.

Single-level homes are the largest group, so there is usually something to compare against. Check for steps at the entry, the width of doorways and hallways, and whether the primary bedroom and a bathroom are on the main floor.

## Condos and townhomes

629 condo and townhome sales closed in the five cities, with a median price of $624,500 and a median homeowners association (HOA) fee of $620 per month. By city:

Encino: 127 sales, median $500,000, HOA $684. Sherman Oaks: 164, median $664,000, HOA $599. Studio City: 94, median $805,000, HOA $647.50. Tarzana: 102, median $510,000, HOA $580. Woodland Hills: 142, median $577,500, HOA $617.

When you compare a condo to a house, add the monthly HOA fee to the cost of owning it, and ask what the fee covers, such as water, insurance on the building, security or a pool. Also ask for the HOA's reserve study and any planned special assessments.

## 55+ communities

Only 4 sales in these five cities were flagged as 55+ community homes in 12 months, and all 4 were in Woodland Hills. That is a small number, and the flag is entered by the listing agent, so it may be a little low. The practical point is that age-restricted inventory here is limited. Most people who downsize in this area move to a single-level house or a condo, or look beyond these five cities.

Source for all figures: Gregory Shenon analysis of closed residential sales, November 2025 to October 2026.

## Prop 19 for owners 55 and over

Homeowners who are 55 or older may be able to carry their current property tax base to a replacement home anywhere in California, subject to rules on timing and the price of the new home. If your home has been owned for decades, your current tax base may be low, so this can matter as much as the sale price. The rules have conditions and limits. Confirm them with your tax advisor or attorney before you sign a contract on either home.

## Sequencing the sale and the next purchase

The hardest part of downsizing is timing. There are three common ways to handle it. Sell first and rent or stay with family for a short period. Buy first, using savings or a bridge loan, and then sell. Or negotiate a longer closing or a short rent-back on your sale so that you can move once. Each choice affects your cost, your stress and your negotiating position, so decide before you list.

Greg can lay out the numbers for your own situation: the likely sale price, the cost of the next home, and the timeline for both. Request a valuation at /seller/valuation or reach out at /contact.php.