Granada Hills Home Prices Dipped, Should You Wait to Sell?

Did Granada Hills home prices really drop this year?

Yes, a bit. Over the three months ending May 2026, Granada Hills homes sold for a median price of about $1,000,000, down 2.9% from the same period last year, according to Redfin. That's not nothing, but it's also not a crash. It's a market cooling off slightly after a long run-up, not falling apart.

If you own a home in Granada Hills, don't panic at that number. A 2.9% dip on a $1M home is roughly $29,000. It matters, but it's not the kind of drop that should freeze you in place if you've been thinking about a move.

So why are more homes selling if prices are down?

Here's the part a lot of sellers miss. Even with prices softening, Granada Hills saw 129 homes sold in May 2026, up from 95 the year before. That's a real jump in activity. There were also 89 active listings on the market as of May, which gives buyers more to choose from, and gives sellers more competition to price against.

Put together, this looks less like a market where nobody's buying, and more like a market where more sellers are finally testing the waters and more buyers are showing up to meet them. Right next door, North Hills (91343) told a slightly different story: prices there were actually up 0.8% year over year, with a median of $857K. Even within the same general area, your specific street and price point matter more than the headline number.

What's happening with mortgage rates right now?

This is the piece that changes the whole conversation. Freddie Mac's survey released in late February 2026 put the 30-year fixed rate at 5.98%, down from where it sat during the higher-rate years of 2023 and 2024.

For a while, homeowners who locked in a 3% or 4% rate had almost no reason to sell. Trading that rate for a 7% or 8% rate on the next home felt like a bad deal, so people stayed put. That's what's known as the lock-in effect, and it's a big reason inventory got so tight.

That effect is starting to fade. As more homeowners already carry rates in the 6% range, moving up doesn't feel like such a steep trade-off anymore. Some analysts expect that to bring more listings to market this year, which is worth knowing if you're weighing whether to list now or wait.

What does this mean if you're thinking about selling?

If you've been sitting on a move-up because prices felt soft or rates felt scary, both of those pressures have eased some. A 2.9% price dip in Granada Hills is a pricing conversation, not a reason to cancel your plans. And a rate closer to 6% makes your next mortgage payment a lot less painful than it would've been two years ago.

The honest answer is that pricing your home right, for your street and your specific home, matters more right now than the overall market number. That's a conversation worth having before you list, not after.

What does this mean if you're a buyer right now?

More inventory means more choices and a bit more room to negotiate, especially in Granada Hills where active listings picked up. You're not walking into a bidding war on every home the way buyers were a few years back. That said, homes that are priced well and show well are still moving, so it still pays to be ready to act.

What should homeowners keep an eye on?

Even if you're not selling today, a few things are worth watching: how your specific neighborhood is trending compared to the wider 91343 zip code, where mortgage rates head over the rest of the year, and how many new listings come onto the market as more owners decide to move. These numbers shift month to month, so treat any single data point as a snapshot, not a guarantee of where things are headed.

FAQ

Did home prices actually go down in Granada Hills this year? Yes, Redfin data shows a 2.9% year-over-year dip over the three months ending May 2026, with a median sale price around $1,000,000.

Is Granada Hills a buyer's market or a seller's market right now? It's mixed. More listings and more sales suggest a more balanced market than the tight, low-inventory years before it. Your specific price point and street affect this more than the overall label.

Are mortgage rates actually lower this year? Freddie Mac's survey from late February 2026 showed the 30-year fixed rate at 5.98%. Rates move week to week, so check a current rate before making a decision.

Should I wait to sell until prices go back up? Nobody can guarantee future prices will rise, and waiting has its own cost, including the rate you'll pay on your next home. It's worth running your specific numbers rather than waiting on a market-wide guess.

Is North Hills the same market as Granada Hills? Not exactly. Even though they sit close together, Redfin shows North Hills prices up slightly this year while Granada Hills dipped. Local pockets can move in different directions at the same time.

What should I do first if I'm considering a move-up? Start with an honest look at what your current home would sell for and what you could buy for on the other side. That's a conversation, not a guess.

Ready to see where your numbers land?

If you're weighing a move up from your Granada Hills or North Hills home, let's look at your actual numbers, not just the headlines. Reach out for a home value review, or visit Realestatetoolbox.com to get the local data for your street.

Steve Hise, eXp Realty