Conejo Valley Market Report: Home Prices, Inventory and Rates

The January 2025 Conejo Valley market report reveals a housing landscape in transition, with median home prices reaching $1,116,250 while mortgage rates sit in the low to mid 6% range, down from 6.8% a year earlier. Here is what that means for buyers and sellers in Westlake Village, Thousand Oaks and the surrounding communities. November ended with 444 homes for sale, up 23% from the prior November, the largest inventory increase we have seen in years. The market has moved from an extreme seller's market toward something closer to balance.

What Are the Current Median Home Prices in the Conejo Valley in January 2025?

The median price of a Conejo Valley home rose to $1,116,250 in November, up 2.9% from $1,085,000 a year earlier. That modest gain masks wide variation between communities. Westlake Village continues to command a premium, with a median sale price around $1.6M, up 26.7% year over year by one data source, though other reports put it in the mid-$1.5M range depending on neighborhood and property type. A median that swings this much in a small market usually says more about which homes happened to sell than about underlying values. Thousand Oaks shows a median sale price of $1.0M, down 16.3% since last year, with price per square foot at $539 . This price adjustment reflects the market's response to higher borrowing costs and buyer sensitivity to monthly payments.

The price stability we're seeing reflects a market where prices remain relatively flat, up roughly 3% year over year and bouncing between $1.1M and $1.2M. That is a real change from the rapid appreciation of the pandemic years.

How Has Housing Inventory Changed in Westlake Village and Thousand Oaks This Year?

The most significant story in our market is the inventory surge. November ended with 444 homes for sale, up 23% from last November, or 83 more homes than a year earlier, the most inventory growth we have seen in over a decade. Days on market tell the same story: 65 days on average in November, up 29% (15 days) from the prior November. Buyers have more choices and more leverage, and they are using both. Well-priced homes often sell in roughly 30 to 45 days; overpriced listings tend to drift past 60. The gap between realistic pricing and wishful thinking widens every time buyers gain options. Westlake Village is its own case: about 134 active listings, down from 179 the month before, which keeps some upward pressure on prices there even as the wider valley loosens. Even so, buyers are still out in force. The average sale price is up 5% and total dollar volume rose 14%, which points to healthy underlying demand despite more competition among sellers.

What Does the 6.8% Mortgage Rate Environment Mean for Conejo Valley Buyers?

Current mortgage rates have stabilized in the 6.38% range as of late March 2026, down from 6.65% a year earlier. That is an improvement from earlier highs, but still well above recent historical norms. The practical impact is substantial. When interest rates increase from 6.5% to 6.75%, roughly 1.13 million households nationwide are priced out because they no longer meet the income threshold for the higher payment. That squeeze reaches every price segment here. Fannie Mae had forecast 30-year fixed rates averaging 6.1% in the first quarter of 2026, down from 6.8% earlier in 2025; the actual figure came in somewhat higher. Most forecasters expect rates to hold in roughly this range for now, so buyers hoping for meaningful relief may be waiting a while. The improvement so far has added about $30,000 in purchasing power compared to 2025, but that gain is fragile and could reverse with any uptick in rates.

Where is the Conejo Valley Market Headed in the Next Six Months?

The expectation is that 2026 feels more stable for buyers: rates settling into the high 5s to low 6s, inventory continuing to build and modest price growth. That would be a meaningful change from the volatility of 2025. In practice, buyers and sellers are on more equal footing than they have been in years, which rewards prepared buyers and requires sellers to be sharper about pricing and presentation. The luxury segment tells a particularly interesting story. Over 32% of total sales occur in the $1.5M+ category. From North Ranch to Lake Sherwood to Westlake Island, luxury remains in demand, especially with relocating professionals, coastal retirees and cash buyers. Several factors support continued stability. Our area's appeal remains strong, with excellent schools across three districts: Las Virgenes School District for Agoura Hills and LA County Westlake Village, Conejo Valley Unified for Thousand Oaks and Ventura County Westlake Village, and Oak Park Unified. Oak Park consistently ranks among the highest performing districts in Ventura County. Economic forecasts have called for GDP growth around 2% in 2026 with inflation easing from 3.1% to 2.6%, which would give the Fed room for rate cuts, though forecasts are not promises.

Which Conejo Valley Neighborhoods Offer the Best Value Right Now?

Value depends on your priorities and timeline. Thousand Oaks offers variety, from entry-level townhomes under $700,000 to estates over $2,000,000, with the core market centering on single-family homes in the $1,000,000 to $1,300,000 range. Homes there have been taking roughly 50 to 60 days to sell. Oak Park holds its premium with median prices around $1,100,000 for homes typically in the 2,200 to 2,800 square foot range. Inventory is steady, with most homes falling into the $1,000,000 to $1,200,000 range, driven by buyers seeking mid-size homes with good yards. For luxury buyers, select lakefront estates have been marketed in the eight-figure range, such as a Lake Sherwood new construction listing offered at $12.9M. Water frontage plus new construction puts a property in a different pricing tier altogether. North Ranch deserves its own mention. North Ranch and its guard-gated enclaves are premium micro-markets within Westlake Village. Large lots, custom estates, and adjacency to private club facilities support pricing far above the town median, with custom and guard-gated estates closing well into the multi-millions. School district boundaries add another layer. Westlake High School is often considered the top overall high school in the area and is in CVUSD, not LVUSD. If Westlake High is the priority, you want the Ventura County side of Westlake Village. That said, LVUSD ranks in the top 10% of California districts for combined math and reading proficiency, with a graduation rate around 96% and strong music, arts, athletics and International Baccalaureate programs. If you want a feel for the community side of the valley, our annual Mister Softee In The Park event is a good excuse to meet the neighbors. And if you are planning a move, our first-time buyer's guide walks through the purchase process in this market.

Frequently Asked Questions About the Conejo Valley Market Report 2025

If you're considering selling in this changing market, our guide on selling your home in a higher interest rate environment covers what works. For investors, our look at why investors are still buying rental properties in Thousand Oaks and Westlake Village gets into the long-term fundamentals.