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The January 2025 Conejo Valley market report reveals a housing landscape in transition, with median home prices reaching $1,116,250 while mortgage rates hover around 6.2%, down from 6.8% last year . For buyers navigating this market, understanding these shifting dynamics is crucial for making informed decisions in Westlake Village, Thousand Oaks, and surrounding communities. November ended with 444 homes for sale, up 23% from last November , signaling the most significant inventory increase we've seen in years. This shift from an extreme seller's market to a more balanced environment presents both opportunities and challenges for today's buyers and sellers.

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

The median price of a Conejo Valley home was up in November to $1,116,250, up 2.9% from $1,085,000 last November . However, this modest appreciation masks significant variation across individual communities within our market. Westlake Village continues to command premium pricing, with median sale prices reaching $1.6M, up 26.7% since last year according to recent data, though some reports show more conservative figures in the mid-$1.5M range depending on the specific neighborhood and property type. 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.TOWLVNPOP$1.0M$1.6M$1.2M$1.1M$2M$1M$500KMedian Home Prices by City

Source: Redfin, local MLS data, January 2025

The price stability we're seeing reflects a market where prices remain relatively flat, up 3% year-over-year, but bouncing between 1.1M-1.2M annually . This represents a significant shift from the rapid appreciation we experienced during 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, representing 83 more homes than last year . This increase marks the most substantial inventory growth we've seen in over a decade. Days on market tell an equally important story. It took 65 days on average to sell a home in November, up 29% from last November, representing 15 more days than last year . This extension in marketing time reflects buyers' increased selectivity and negotiating leverage. Well-priced homes often sell in approximately 30-45 days; overpriced listings tend to drift to 60+ days . The distinction between realistic pricing and wishful thinking has become more pronounced as buyers have gained options. For context, Westlake Village currently has about 134 active listings, down from 179 in the previous month, but this limited inventory still contributes to upward pressure on home prices . The market's complexity lies in this geographic variation within our broader region. Inventory is up 68%, meaning more competition. However, buyers are still out in force. The average sale price is up 5%, and total dollar volume rose 14% , indicating healthy underlying demand despite the shift in market dynamics.

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 March 26, 2026, down from 6.65% a year ago . While this represents improvement from earlier highs, rates remain significantly elevated compared to recent historical norms. The practical impact is substantial. When interest rates increase from 6.5% to 6.75%, around 1.13 million households are priced out of the market nationwide, unable to meet the higher income threshold required to afford the increased monthly payments . This affordability squeeze affects every price segment in our market. Fannie Mae's forecast predicts that 30-year fixed mortgage rates will average 6.1% in the first quarter of 2026, down meaningfully from 6.8% earlier in 2025 . However, experts generally agree that mortgage rates will stay roughly the same moving into the new year, meaning prospective homebuyers may not get the relief they're hoping for . For buyers in our market, this translates to continued pressure on purchasing power. Recent rate improvements have added about $30,000 in purchasing power compared to 2025 , but this gain remains fragile and could reverse with any uptick in rates.

Rate Environment Monthly Payment (800k loan) Annual Income Needed Impact on Buyers
6.0% (optimistic) $4,796 $192,000 Baseline affordability
6.4% (current avg) $4,988 $199,500 7,500+ income needed
6.8% (2024 high) $5,183 $207,000 15,000+ income needed
7.0% (stress test) $5,322 $213,000 21,000+ income needed

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

Looking ahead, 2026 should feel more stable for buyers. Rates are expected to settle into the high-5s to low-6s, inventory should continue to build, and home price growth should stay modest . This represents a meaningful shift from the volatility we experienced throughout 2025. We've shifted from an extreme seller's market to a balanced market, where buyers and sellers are on more equal footing . This balance creates opportunities for well-prepared buyers while requiring sellers to be more strategic 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-rich investors . Several factors support continued market 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 School District . Oak Park Unified stands out as the highest performing school district in Ventura County, where all five schools scored the highest rank of 10 in the statewide Academic Performance Index . Economic fundamentals remain supportive, with GDP forecast to grow around 2% in 2026, with inflation expected to ease from 3.1% to 2.6%, creating favorable conditions for potential rate cuts .

Which Conejo Valley Neighborhoods Offer the Best Value Right Now?

Value in today's market depends heavily 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 are selling in about 50-60 days . Oak Park maintains its premium with median prices around $1,100,000 for homes typically ranging 2,200-2,800 square feet. 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, showing how location on the water plus new construction places a property in a different pricing tier . The North Ranch area deserves special 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 properties and guard-gated estates closing in the multi-million range . Geographic positioning within school districts adds another layer of value consideration. 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 . For families prioritizing education, it's worth noting that LVUSD ranks in the top 10% of all California school districts for combined math and reading proficiency, with a graduation rate around 96%, plus strong programs in music, arts, championship athletics, and specialized offerings like International Baccalaureate . To experience the lifestyle and community connections that make the Conejo Valley special, consider attending local events. Our annual Mister Softee In The Park celebrations bring neighbors together and showcase what makes our communities unique. For families considering a move, our comprehensive first-time buyer's guide walks through every aspect of the purchase process in our local market.

Frequently Asked Questions About the Conejo Valley Market Report 2025

Should I wait for lower mortgage rates before buying in the Conejo Valley?

Think long term. Timing the market is more luck than strategy, so consider buying when you're ready versus trying to time dips in mortgage rates . Fannie Mae anticipates rates to hover around 6.4% through the end of 2025, but dropping to the high 5s in 2026. It's wise to accept that rates in the 6s are the "new normal" and plan accordingly. Waiting for a significant rate drop in an already appreciating market may lead to increased competition from other buyers driving prices up further .

How competitive is the current market for buyers in Westlake Village and Thousand Oaks?

It will be easier to buy in 2025 than it was in the last few years. The frenzy of selling on a weekend with dozens of offers over asking price is behind us. While multiple offers are still common, the competition is less intense. Instead of competing with 10+ buyers, you're likely looking at closer to 1 or 2, or none at all . The Thousand Oaks housing market is somewhat competitive, with homes receiving 2 offers on average and selling in around 44 days .

What's the outlook for home prices in the Conejo Valley over the next year?

Industry forecasts show modest appreciation ahead: Fannie Mae predicts home prices will rise 2.4% in 2026, while the MBA expects 0.6% growth, and NAR forecasts a 4% increase in median prices . California home prices ended 2025 with a median price of $874k, up 1%. The California Association of Realtors forecasts home prices to increase 3.6% in 2026 to $905k .

Which school districts serve the Conejo Valley and how do they compare?

Westlake Village is split by the LA County/Ventura County line. The LA County side feeds into LVUSD (Agoura High), while the Ventura County side feeds into CVUSD (Westlake High) . Oak Park USD tends to rank slightly higher on pure academic metrics and test scores, while LVUSD is often viewed as the more well-rounded district, with stronger athletics, arts, and specialized programs like IB and dual language immersion . For buyers focused on school quality, check the specific address since district boundaries don't align perfectly with city boundaries.

If you're considering selling in this changing market, our guide on selling your home in a higher interest rate environment outlines proven strategies for success. For investors, our analysis of why smart money continues buying rental properties in Thousand Oaks and Westlake Village provides valuable insights into long-term market fundamentals.

Thinking About Buying or Selling in the Conejo Valley?

Davis Bartels and the DB Real Estate Group have helped nearly 1,000 families navigate the local market since 2009. Whether you're exploring your options or ready to make a move, reach out for a no-pressure conversation about your goals.

Contact Davis: davisbartels.com