Conejo Valley Housing Market 2025: Prices +2.9%, Inventory +23%

The Conejo Valley housing market in 2025 shifted. After nearly a decade of steady price growth, the area spanning Westlake Village, Thousand Oaks, Newbury Park, and Oak Park saw inventory climb and the balance between buyers and sellers even out. Buyers who had been waiting got more choice and more room to negotiate than at any point since 2019. Sellers had to price with care.

What is the Median Home Price in Westlake Village and Thousand Oaks in 2025?

The median price of a Conejo Valley home reached $1,116,250 in November 2025, representing a 2.9% increase from $1,085,000 the previous November. However, this overall figure masks significant variation across local markets that buyers and sellers must understand.

In Westlake Village, the median hit $1.6 million, up 26.7% from a year earlier. A jump that large in a single month's median usually says as much about which homes happened to sell as about underlying values, but the premium itself is real: luxury amenities, proximity to RED O Restaurant and the Four Seasons, and a manageable drive to the entertainment industry's offices.

Thousand Oaks shows a different pattern, with the median at $1.0 million, down 16.3% from a year earlier. The same caveat about single-month medians applies, but the direction fits what we see on the ground: buyers are more selective and have more to choose from. Homes in Thousand Oaks are taking an average of 44 days to sell.

Newbury Park held up well, with a median of $1,025,000, up 9.1% year over year. Buyers there tend to be drawn by newer construction, the schools, and a lower entry point than Westlake Village.

Why Has Housing Inventory Surged 23% in the Conejo Valley?

The biggest change in 2025 was inventory. November ended with 444 homes for sale, up 23% from the prior November, or 83 more homes. A few things drove that.

First, expired listings doubled to 100 unsold homes versus 50 the year before, a sign of the gap between what sellers want and what buyers will pay. Many owners who sat tight through the pandemic's ultra-low rate years are now listing, but their price expectations haven't caught up with what buyers are actually paying.

Price reductions have become commonplace, with 56 price reductions in the Conejo Valley in a single week, a stark contrast to the recent past when homes would list on Friday and sell over asking price by Monday.

Second, sellers' thinking has shifted. Many owners still hold ultra-low pandemic-era rates, which has kept inventory tight for years. But job changes, upsizing, downsizing, and moves closer to family are starting to override the "I love my 3% rate" mindset.

For buyers looking anywhere from the neighborhoods around The Paddock in Thousand Oaks to the shops near Moody Rooster in Westlake Village, that means more choice than there has been in years.

How Are Mortgage Rates Affecting Buyers in Ventura County?

Mortgage rates ended November 2025 at roughly 6.2%, according to Freddie Mac, down from 6.8% a year earlier and the lowest level of 2025. That helped, but rates were still well above the pandemic era, and that shaped who was buying across Ventura County.

Rates peaked in April 2025 at 6.83% before drifting lower. Heading into 2026, the California Association of Realtors forecast rates easing to 6.0%, and Fannie Mae expected roughly 5.9% by late 2026.

The rate environment has created distinct buyer segments with different market experiences:

First-Time Buyers: Entry-level homes have been hit hardest. Between high prices, elevated rates, and rising insurance costs, many first-time buyers are still on the sidelines.

Move-Up Buyers: Those who've gained equity from current homes remain active. Higher-end properties are sometimes selling faster than mid-range homes, as these buyers have more financial flexibility.

Downsizers: More established buyers, typically less impacted by economic shifts, continue driving market activity. Single-story and downsizer-friendly homes are still performing well comparatively.

Local lenders tell us a buyer who qualified for a $1.2 million home at 3% now qualifies for roughly $850,000, which changes which Conejo Valley neighborhoods are within reach. That goes a long way toward explaining the pricing pressure in the mid-tier while the luxury end has held up.

What Did Forecasts Expect for Conejo Valley Real Estate in 2026?

Heading into 2026, the outlook for buyers was a steadier year. Rates were expected to settle into the high 5s to low 6s, inventory was expected to keep building, and price growth to stay modest. Not a full buyer's market, but one with options and room to negotiate, especially on homes that had been sitting.

For sellers, the message heading into 2026 was simple: price right from day one and make sure the home shows well. With more inventory and cautious buyers, those two things matter more than they did a few years ago. Homes near the amenities people actually use, Mastro's Steakhouse in Thousand Oaks or within walking distance of The Promenade at Westlake, tend to hold their edge.

The forecasts in circulation as 2026 began:

• Mortgage rates easing to 6.0% per C.A.R., with Fannie Mae projecting 5.9% by late 2026
• California home prices forecast to increase 3.6% to reach $905k statewide median, according to realtor.com research
• Home sales up 2.0% as more buyers accept 6% mortgage rates as the new normal
• Conejo Valley possibly outperforming the state average if demand from relocating professionals and coastal retirees holds up

The deals that go well in this kind of market tend to involve sellers who price well from day one and buyers who move with conviction when the right home appears. Homes no longer sell themselves, and preparation matters more than it did.

Frequently Asked Questions About the Conejo Valley Housing Market 2025

Is now a good time to buy in Westlake Village or Thousand Oaks?

For a qualified buyer, conditions are better than they have been in years. There are more homes to choose from, sellers are more negotiable, and Redfin's data points to the most buyer-friendly conditions since 2019. The catch: if rates fall meaningfully, more buyers show up and competition tightens. Buy when your life and finances say it's time rather than trying to time the dip.