CALABASAS

Dear Reader, I want to give you a straight read on the Calabasas real estate market right now, because what you are hearing in the headlines and what is actually happening on the ground are two different things. The market is rebalancing, yes. But institutional capital is simultaneously making a very public bet on this city’s future. Both things are true, and together they create an opportunity worth understanding.

This report covers two stories I am watching closely: where inventory really stands heading into summer, and what Rick Caruso’s Commons renovation means for your home’s value over the next two to three years.

Where the Calabasas Real Estate Market Inventory Stands

As of June 4, 2026, there are 128 active listings in Calabasas with an average of 83 days on market and a median list price of $2,699,500. In January, roughly 60 homes were available, and supply had already grown approximately 76% year over year. Active inventory has more than doubled since the start of the year.

The number that matters most is the share of listings transacting in under 30 days, because that is where buyers and capital are concentrating right now. That is the tier your home should target.

Rick Caruso Just Bet on Calabasas. Here’s Why That Matters to You.

While inventory rises and values face short-term pressure, a multi-billion-dollar developer just broke ground in the heart of this city. That is not a coincidence, and it is not something to ignore.

Rendering of the new Commons Lane development at The Commons at Calabasas. Source: Caruso.

“A multi-billion-dollar developer choosing to deploy capital here, publicly, while inventory rises and values dip 2.9%, is the single best counter-narrative to the idea that Calabasas is softening. Institutional money is buying the dip on the city itself.”

How This Affects Your Home’s Value

Construction through late 2026 means temporary noise, dust, and parking friction for homes immediately adjacent to The Commons. I acknowledge this honestly in every showing nearby, and I reframe it as exactly what it is: buying ahead of the amenity, not beside it.

Let’s Talk

The most valuable thing I can give you right now is context — not a sales pitch. The Calabasas story in 2026 is nuanced, and nuance is where opportunity lives. Whether you are thinking about selling, waiting, or simply protecting the value of what you have built here, I would welcome a conversation.