Published October 7, 2026 in Market Update

Nearly 6 in 10 Calabasas Homes for Sale Already Cut Their Price

By Shane Marechal

Real estate, market update clean 91302

I pulled every listing and every sale in the 91302 zip code, through September 28, 2026. Right now, 153 homes are for sale. Ninety-one of them are already asking less than they started at. That is 59.5% of everything on the market. I wanted to know whether that pattern holds across all price ranges, or whether some ranges are taking the hit harder than others. So I ranked them, from the range where sellers held their price best to the range where the most gave up without ever selling.

The $1.5M to $2.25M range is where sellers are winning, and the gap is not small.

Only 22.7% of homes priced between $1.5M and $2.25M gave up without selling. That is the best number of any range in this market. The typical home there sold in 23 days, faster than any other range. And sellers got 97.4% of what they first asked, meaning the typical cut from first price to sale price was small.

The $3.75M to $6.5M range came in second at 23.3% giving up. That sounds close, but the experience of selling there is very different. The typical home took 71 days to find a buyer, versus 23 days in the $1.5M to $2.25M range. Sellers got 90.2% of what they first asked, a full 7.2 percentage points less. The $1.5M to $2.25M range is the one place in 91302 where speed and price held together.

The $2.25M to $3.75M range sat in the middle at 28.9% giving up. Thirty-two homes sold there, and the typical sale price was $2,400,000. Sellers got 94.2% of their first asking price. Not terrible, but not the middle range either.

Under $1.5M is where the numbers get uncomfortable. 37.3% of homes came off the market without a sale. That is the worst give-up rate of any range. The typical home took 57 days to sell, and sellers who did close got 96.5% of their first asking price. That last number looks okay until you remember that 19 sellers in this range never got to close at all.

The range that looks safe at the top is not as safe as it looks.

The $3.75M to $6.5M range had only 7 homes give up without selling, the fewest of any range by count. That sounds like the safest bet. But only 23 homes sold there, and the typical home spent 71 days on the market. Sellers got 90.2% of what they first asked, the lowest share of any range in this market.

The biggest single price cut in the whole market right now is $6,100,000, on Jim Bridger. That one cut alone tells you something about where the ceiling pressure is. The total dollars cut across all 91 homes with reductions is $40,433,433, with a typical cut of $200,000. That is not a small adjustment. That is a market telling sellers their first number was wrong.

There is also a timing story inside these numbers. In April and May 2026, homes sold in 23 and 19 days. By July and August, the typical home took 51 and 58 days. Sellers who priced right in spring closed fast. Sellers who priced high and waited are the ones now sitting in that 59.5% with a lower number on their sign.

What this means if you are selling or buying in 91302 right now.

If you are selling, the number you start with is the whole game. Homes that sold in month one got 99% of their first asking price. Homes that sold in months five and six got 88.6%. That is a 10.4 percentage point gap, and it comes entirely from starting too high and waiting. The market right now has 6.5 months of supply, which favors buyers. Pricing at the market, not above it, is the one move that changes your outcome. Get fire insurance quotes before you list, not after, because availability and cost can affect whether a deal closes in 91302.

If you are buying, 48 homes that came off the market without selling are back for sale right now. Those sellers have already been through one failed attempt. That is a different conversation than a fresh listing. Also worth knowing: the 30-year fixed mortgage averaged 7.28% as of October 1, 2026, up from 6.34% a year ago, according to Freddie Mac's weekly rate survey. That shift changes what you can afford, and it is part of why sellers in the under $1.5M range are having the hardest time finding buyers. Ask about HOA fees and Mello-Roos on any gated community or newer tract before you make an offer. Those costs change the real monthly number.