This is my May 2026 Calabasas luxury market read. I cover inventory levels, days on market, pricing patterns by tract, and where I see buyer and seller leverage at this point in the cycle. I'm Brian Cooper, REALTOR at eXp Realty (DRE# 01434286), and I publish these monthly so buyers and sellers have a current read rather than a stale general-market summary.
Inventory Snapshot
Calabasas luxury inventory in May 2026 is moderate by historical standards. The gated tracts — The Oaks of Calabasas, Mountain View Estates, Calabasas Park — show a mix of fresh listings and longer-on-market inventory.
Off-market activity continues at meaningful volume, which understates true supply. I track both MLS and known off-market for the monthly read.
Days on Market by Tract
DOM averages vary significantly by tract. Well-positioned listings in The Oaks of Calabasas and Mountain View Estates are moving in 30–60 days. Calabasas Park ranges wider. Mulholland Estates and Westridge see lower transaction volume so monthly averages reflect small samples.
I share tract-specific DOM rather than citywide averages because the variance matters more than the headline.
Pricing Patterns and Adjustments
Well-positioned listings are holding price. Under-positioned listings — overpriced relative to comp, dated finishes, or weak photography — are seeing price reductions in the 5%–10% range to find offers.
The pattern is consistent with a normalizing market where buyers are selective. Pricing to comp at listing day is the strongest leverage a seller has.
Buyer and Seller Leverage
Buyer leverage is meaningful on listings that have sat 60+ days or that have already taken a price reduction. Seller leverage is strongest on fresh, well-positioned listings in core tracts.
I tell buyers and sellers honestly where each side currently has leverage rather than pretending the market favors one universally.
Cycle Position and Forward Read
May 2026 reads as mid-cycle stable. Interest rates, broader luxury demand, and equity market levels all affect the next 3–6 months. I don't predict, but I share the indicators I watch.
I update this read monthly. Buyers and sellers making decisions on a 6+ month timeline should treat any single month as one data point.
| Tract | Median DOM | Pricing Trend |
|---|---|---|
| The Oaks of Calabasas | 30–60 days | Stable |
| Mountain View Estates | 30–60 days | Stable |
| Calabasas Park | 45–90 days | Mixed |
| Mulholland Estates | Variable | Thin sample |
| Westridge | Variable | Thin sample |
Next Steps and How I Work with Clients
My approach across calabasas luxury is the same regardless of price band: pull tract-specific data first, share the math rather than the marketing, and act as a neutral party representing your interest. I don't push timing or price decisions; I share data so you can decide informed.
For buyers, that means a pocket map, current inventory snapshot, comp pulls on properties of interest, and clear walkthrough of HOA documents and disclosures. For sellers, it means honest pricing scenarios, a marketing plan tailored to the property, and clear communication through escrow.
If any of this is useful, the next step is a short call to talk through your specific situation. I cover the upper Conejo Valley, Calabasas, Hidden Hills, Westlake, Simi Valley, and the northwest San Fernando Valley markets across price bands.
Frequently Asked Questions
How does May 2026 compare to early 2026?
May 2026 DOM has lengthened modestly versus early 2026. Inventory is moderate. Pricing remains stable in well-positioned listings; under-positioned listings are seeing reductions.
Which tracts have the strongest seller leverage right now?
Fresh well-positioned listings in The Oaks of Calabasas and Mountain View Estates carry the strongest leverage. Listings sitting 60+ days have meaningfully less leverage regardless of tract.
Are buyers getting price reductions?
Yes, on listings sitting 60+ days or that have already taken a first reduction. Well-positioned fresh listings still receive offers at or near ask.
How much off-market activity is there?
Meaningful. Off-market volume understates true supply in any given month. I track known off-market alongside MLS for the monthly read but the public picture only shows MLS.
What price band has the most activity?
The $3M–$5M band consistently transacts at higher volume than the $6M+ band. Upper-luxury inventory and demand are both thinner.
When should I buy or sell?
Timing depends on your specific use case more than on monthly market reads. I share current data so the decision is informed, but I don't push buy-or-sell timing pressure.
