Conejo Valley Real Estate: What 23% More Inventory Means

As of December 2026, the Conejo Valley housing market is shifting in ways both buyers and sellers should understand. November ended with 444 homes for sale, up 23% from last November, representing 83 more homes than last year. This inventory surge is reshaping strategies for everyone in the market, from first-time buyers to luxury sellers in Westlake Village and Thousand Oaks. While the median price of a Conejo Valley home was up in November to $1,116,250, a 2.9% increase from $1,085,000 last November, the bigger story is what the added inventory is doing to leverage on both sides of the table. The data reveals a market in transition. It took 65 days on average to sell a home in November, up 29% from last November, representing 15 more days than last year. Meanwhile, expired listings doubled to 100 unsold homes for the month versus 50 last year, indicating a divide between what sellers want and what buyers are willing to pay. For buyers and sellers who understand these dynamics, this market offers distinct advantages when approached strategically. For a look further ahead, see our May 2026 market data breakdown.

What is the median home price in the Conejo Valley as of December 2026?

The median price of a Conejo Valley home rose in November to $1,116,250, up 2.9% from $1,085,000 last November and up $11,250 from the previous month. However, this broad metric tells only part of the story across the valley's diverse communities. The median sale price of a home in Thousand Oaks was $1.0M last month, down 16.3% since last year, while the median sale price of a home in Westlake Village was $1.6M last month, up 26.7% since last year. Those are micro-market swings, and they show how much location, condition, and pricing strategy drive the outcome. Portal snapshots from early 2026 put the Westlake Village townwide median in the mid-$1.5M range, with February 2026 data placing it around $1.6M. Federal data for the broader Oxnard-Thousand Oaks-Ventura metro put the January 2026 median listing price at $942,500, which shows the premium Conejo Valley communities command within Ventura County. What's driving these price dynamics? Forecasts call for a more stable 2026, with rates settling into the high-5s to low-6s, inventory continuing to build, and modest price growth. Rates averaging near 6.0% for the year would give buyers a steadier backdrop than they have had in several years (weekly rate history is available in Federal Reserve data). Local hotspots like [Mastro's Steakhouse](https://www.mastrosrestaurants.com/locations/thousand-oaks/) in Thousand Oaks and [The Stonehaus](https://stonehauswine.com/) in Westlake Village continue to attract buyers who value the area's lifestyle amenities alongside home values.

What does the 23% inventory increase mean for buyers and sellers?

November ended with 444 homes for sale, up 23% from last November, representing 83 more homes than last year. That is more buyer leverage than this market has offered in years. For buyers, expect more options and more breathing room. Prices are unlikely to fall, but you are more likely to have time to think, negotiate, and decide without feeling rushed. Focus on finding the right home and neighborhood rather than guessing where rates will be. The market now offers 3 months of inventory, giving you leverage in some negotiations. Rate-sensitive segments (under $750K, for example) are still competitive with only 2.7 months of inventory. For sellers, 2026 is all about strategy. With more inventory and cautious buyers, pricing right from the start and making sure the home shows well will make a big difference. The good news is that slightly lower rates should bring more buyers back, and clean, move-in-ready homes will still get strong attention. Sellers who adjust to the current market will see the best results. The luxury market shows this dynamic clearly. Some listings have been on the market 200-500+ days, particularly in the luxury and ultra-luxury price ranges. Buyers aren't chasing aspirational prices anymore. They're chasing value, condition, and credibility.

The shift is clearest in expired listings, which doubled to 100 for the month versus 50 last year: a gap between what sellers want and what buyers will pay. Local dining spots like [Tikka Grill](https://www.tikkagrill.com/) and [JOi Cafe](https://joicafe.com/) in Westlake Village see increased foot traffic from real estate agents showing properties, reflecting the market's increased activity levels despite longer selling times.

Which neighborhoods are performing best in the current market?

Performance varies by micro-location, condition, and price point. The honest answer: it depends on the neighborhood, the house, and most importantly, the price. Two homes a mile apart can have completely different outcomes, with one selling in a week with multiple offers and the other sitting on the market for months and ultimately selling well below the asking price. What we're really in right now is a market of micro-markets. Homes that appeal to move-up buyers are often the homes selling the fastest. In Westlake Village's premium enclaves, Sherwood continues to show strength, and Westlake Village's classic neighborhoods like First Neighborhood, Westlake Island, Foxmoor, and the lake communities remain in high demand. Full lake frontage with dock rights and unobstructed water views typically sits at the top, followed by large-lot golf-adjacent estates and then view homes. Well-presented, accurately priced homes can land near list price, while dated or mispriced properties often see 3 to 15 percent concessions depending on tier, timing, and demand. Thousand Oaks shows mixed performance by area. Detached homes remain the core of the Thousand Oaks housing market. A median ~34 days on market suggests realistically priced homes are still moving at a healthy pace. Turnkey condition and strong micro-location remain the biggest drivers of speed and final price. Across Ventura County, the theme is steady but selective demand. Buyers are more cautious about payment and rates, but they're still willing to write strong offers on homes that check the right boxes: good neighborhoods, updated condition, functional floor plans, and realistic pricing, especially in Thousand Oaks, Camarillo, Ventura, Oxnard, Simi Valley, and Moorpark. For attached homes, the dynamics shift. Attached homes offer a more attainable entry point into the Thousand Oaks lifestyle. With a longer median DOM, buyers are typically more payment- and HOA-sensitive here, and the best-performing listings are those that are clean, well-presented, and priced within the most active affordability bands. The $1M to $2M range is the most active segment right now, driven by move-up buyers and new arrivals, many of them relocating from higher-cost areas. Areas near recreational amenities continue performing well. Properties within walking distance of [Wildwood Regional Park](https://www.crpd.org/wildwood-regional-park) and its over 27 miles of hiking trails, with four principal trails (Mesa, Moonridge, Wildwood Canyon and Santa Rosa), command premiums for their outdoor access.

How long are homes taking to sell in December 2026?

It took 65 days on average to sell a home in November, up 29% from last November, representing 15 more days than last year. However, this valley-wide average masks significant variation by price point, condition, and strategy. Well-priced homes in desirable areas still move efficiently. Realistically priced Thousand Oaks detached homes, for example, have been selling in a median of roughly 34 days. Preparation and pricing are the differentiators. The market is no longer forgiving of starting too high and adjusting later. Homes that are priced right from the start tend to sell. Homes that are not often sit, reduce, and ultimately sell for less than expected. A separate Westlake Village snapshot shows homes selling in about 49 days on average, some with multiple offers, and a median sale price around $1.2 million, up 8.1% year over year. That figure is not directly comparable to the $1.6M monthly median cited above, but both point the same direction: premium areas are outperforming valley averages. Inventory also shapes selling speed at the city level. One snapshot put Westlake Village at about 134 active listings, down from 179 the previous month. A tighter pool in a single city can support pricing there even while the valley as a whole carries 23% more inventory than last year. The luxury segment tells a different story. Inventory in late February was roughly 111 active listings, and median days to pending was about 58 days. However, some listings have been on the market 200-500+ days, particularly in the luxury and ultra-luxury price ranges. For properties priced correctly from the start, the market remains responsive. Even in the $2M-$3M range, and even in Sherwood, North Ranch, and lake-adjacent neighborhoods, buyers are writing strong offers when the home makes sense. This is a real shift: buyers are careful, selective, and well informed. The data suggests a two-tier market: properties that meet current buyer expectations sell within 30-50 days, while overpriced or dated properties face significantly longer marketing times. Price reductions are slowing as sellers adjust expectations, but motivated sellers are still out there. If rates drop further, expect competition to pick up, which could push prices higher again. Properties near local amenities like [Thousand Oaks Civic Arts Plaza](https://www.toaks.org/departments/arts-culture/civic-arts-plaza) and [The Promenade at Westlake](https://promenadeatwestlake.com/) continue to attract buyer interest, particularly from relocating families who value walkable access to dining and entertainment.

Frequently Asked Questions About Conejo Valley Real Estate December 2026