Used car values are still running above last year in mid-2026: wholesale prices are up about 2% year over year, sitting roughly 1% below their March peak, and the average used car lists for around $27,000. Supply is tight at about 45 days, and anything under $15,000 is scarce enough that dealers bid against each other at auction for it. If you're holding a car you don't need, this is still a seller's stretch of the market, and the seasonal calendar says it won't get better by waiting for winter.
I'm Joe. I've been buying cars for over 30 years, and I watch these numbers the way other people watch the weather, because they decide what I can pay for your car. This page is my running read on the 2026 market, updated as the data changes. The numbers below are current as of July 2026, from Cox Automotive, Manheim, CarGurus, and iSeeCars data.
Quick answer (July 2026):
- Wholesale values: Manheim index at 212.9 in June, up 2.1% year over year, about 1% below the March multi-year peak.
- Retail prices: average used listing around $27,000; three-year-old-and-newer models near $30,500, up ~3% on the year.
- Supply is tight: ~45 days of used inventory, and under-$15,000 cars are at just 27 days. Scarcity means real bids for clean cars.
- The surprise: affordable compact cars are the top gainers (+7.6%), while mainstream SUVs are nearly flat (+0.3%). Used EVs lead everything at +12% wholesale.
- The window: summer pricing is historically strong; the normal pattern says values soften into fall. Selling this year? Sooner beats later.
What are used car prices doing right now?
Two sets of numbers matter, and people mix them up constantly. Wholesale is what dealers pay at auction; retail is the sticker on a dealer's lot. Both are elevated.
On the wholesale side, the Manheim Used Vehicle Value Index, the industry's benchmark, closed June 2026 at 212.9. That's up 2.1% from a year ago and just about 1% below the March reading of 215.3, which was the highest wholesale level in years. Tax-refund season pushed the market to that peak; summer has been a plateau just beneath it, which is the normal shape of a healthy year.
On the retail side, the average used listing runs around $27,000 (Cox Automotive put it at $26,918 in May; CarGurus' broader index reads $29,115). For newer used cars, the top 50 models three years old and newer, average prices are nearly $30,500, up about 3% year over year.
The number that matters most for sellers, though, is supply. Used inventory sat at roughly 45 days as of the May reading, after March buying drew it down to 37 days, the tightest since 2021. And the affordable end of the market, cars under $15,000, is at just 27 days of supply. When dealers can't find enough of something at auction, they pay up for it in your driveway. That's not theory; that's my Tuesday.
Why are prices still elevated?
Two forces did the work, and one of them is now baked in rather than building.
The tariffs. The 25% auto import tariffs raised new car prices by roughly $450 on mainstream models, around $1,200 on pickups, and $2,000 or more on luxury vehicles. Buyers who got priced out of new didn't stop needing cars; they moved to used. That demand shift drove wholesale values up hard through the spring. By June, analysts were describing the tariff effect as a fading "base effect," meaning prices aren't climbing because of it anymore, they're just staying high.
The supply squeeze. The pandemic-era production cuts of 2021-2022 mean there are simply fewer 4-to-6-year-old cars in existence right now, which is exactly the age of car the used market runs on. Add the heavy spring buying, and inventory has stayed thin all year. Tight supply plus steady demand is the whole story of 2026 pricing in one sentence.
Don't want to read the rest? Get a real number instead.
Tell Joe the basics. He calls or texts within 2 hours with what he'd actually pay for your car. Guaranteed to match or beat any CarMax offer.
Not ready to call? No problem.
Tell me about your car. I’ll text or call you back within 2 hours with a realistic range.
Which cars are gaining value, and which aren't?
This is where 2026 surprised people, including plenty of dealers. The conventional wisdom says trucks and SUVs lead every hot market. Not this year.
| Segment | Wholesale trend (year over year, May-June 2026 readings) |
|---|---|
| Used EVs | +12% in June, the strongest segment in the market |
| Compact cars | +7.6%, the affordable-car squeeze in action |
| Pickups | +2.6% |
| Midsize cars | +2.5% |
| Luxury | +2.1% |
| SUVs / crossovers | +0.3%, nearly flat |
The pattern underneath: older and more affordable vehicles are outperforming everything else, because that's where the tariff-squeezed buyers went and where supply is thinnest. If you're sitting on a clean Civic, Corolla, or Sentra you were told was "just a commuter car," the market disagrees this year.
The Tesla footnote that matters around here. After the federal EV tax credit ended in September 2025, most used EV prices dipped about 3.6%. Used Teslas went the other way, rising about 4.3%. Wholesale used EV values overall are up 12% on the year. In a region with as many Teslas per driveway as the San Fernando Valley and Conejo Valley, that's not trivia; if you own one and have been thinking about selling it, the market is unusually kind right now. I dug into the specifics in what your Tesla is actually worth.
Is now a good time to sell?
For most sellers, yes, and the reasoning is seasonal, not hype.
Used values follow a reliable arc every year: a low in January, a spring surge when tax refunds land (that was the March peak), a summer plateau, and then softening through fall and early winter as demand cools ahead of the holidays. 2026 has tracked that script almost exactly. Cox Automotive's mid-year outlook calls for the normal seasonal pattern to hold through year-end, with wholesale values finishing about 2% above year-end 2025.
Read that as: no crash coming, but no second peak either. The practical translation for a seller is simple. Summer prices are historically strong, fall prices are usually a little worse, and waiting until December to sell a car you've already decided to sell mostly just donates a few points of value to the calendar. If the plan is to sell in 2026, the better half of the year for it is the half you're standing in. For the timeline math on each selling route, see how long it takes to sell a car.
What this means in the Valley
National numbers set the weather; here's the local forecast from someone who buys cars in it every day.
- Clean, affordable cars are gold. With under-$15,000 inventory at 27 days nationally, a well-kept older sedan or compact gets real competition among buyers like me. Don't assume a 2015 Corolla with 120,000 miles is worthless. This year it isn't.
- Teslas and hybrids are having a moment. Between the +12% used-EV wholesale trend and Tesla's post-credit resilience, SFV and Conejo Valley EV owners are sitting on more value than most of them realize.
- SUV owners: temper expectations. Nearly-flat wholesale trends mean your RAV4 or CR-V is worth good money, but it hasn't appreciated the way the headlines about "hot used market" imply.
- The number that matters is yours, not the average. Averages are for articles. Your car's value is its year, miles, condition, and what buyers need this week. I explain how dealers actually build that number in what is my car actually worth.
If you want the real number instead of the national average, I come to your driveway anywhere in the San Fernando Valley or Ventura County, look at the car, and make you a firm offer on the spot, backed by the same market data in this article and guaranteed to match or beat any CarMax offer. Call or text me at (818) 325-7535. Ten minutes, a real number, and you'll know exactly where you stand in this market.
This is part of the How to Sell a Car in California series.
Frequently Asked Questions
Are used car prices up or down in 2026?
Up, modestly. Wholesale values (the Manheim index, what dealers pay at auction) closed June 2026 at 212.9, up 2.1% year over year and about 1% below the March peak. Retail listing prices average around $27,000. The gains are uneven: affordable compact cars are up 7.6% on the year while mainstream SUVs are nearly flat, and used EVs are the standout at 12% wholesale gains.
Is now a good time to sell my car in 2026?
Summer 2026 is a strong window. Wholesale values sit near multi-year highs, used inventory is tight at about 45 days' supply, and cars under $15,000 are scarce enough that dealers compete for them at auction. The normal seasonal pattern points to modest softening into fall and winter, and Cox Automotive forecasts values ending the year only about 2% above year-end 2025. If you plan to sell this year, sooner generally beats later.
Why are used car prices still high in 2026?
Two forces. The 25% import tariffs pushed new car prices up by roughly $450 on mainstream models to $2,000+ on luxury vehicles, which shifted budget-conscious buyers into the used market. And supply stayed tight: heavy spring buying drew used inventory down to 37 days' supply in March, the tightest since 2021, and it has only partially recovered to about 45 days.
Are used EV prices going up or down in 2026?
Both, depending on how you measure. Wholesale used EV values rose 12% year over year through June 2026, the strongest of any segment. Average retail listing prices have bounced around ($34,653 in March, $38,341 in June) because more affordable non-Tesla EVs are entering the market and shifting the mix. Used Teslas have been notably resilient: after the federal EV tax credit ended in September 2025, used Tesla prices rose about 4.3% while the rest of the used EV market fell roughly 3.6%.
Will used car prices go down later in 2026?
Modestly, most likely. Used values follow a reliable seasonal arc: an early-year low, a tax-refund spring peak (March 2026 hit the multi-year high), a summer plateau, then softening into fall and early winter. Cox Automotive's mid-year outlook expects the normal seasonal pattern to hold, with wholesale values finishing 2026 about 2% above year-end 2025. That means gradual cooling, not a crash.