No, the Conejo Valley luxury market in 2026 is not slowing as a whole; it is splitting. Westlake Village posted a median sale price of $1,848,894 in May 2026, up 35.9 percent year over year, while Calabasas fell 6.3 percent to roughly $1.8 million and Hidden Hills dropped 12 percent to $5.3 million over the same period, according to Redfin. Well located, updated, and correctly priced $2 million plus homes are still selling in about 40 days, while dated or overpriced luxury listings are sitting for 60 days or longer.
Key Takeaways
- Westlake Village's median sale price hit $1,848,894 in May 2026, up 35.9 percent year over year, while Thousand Oaks slipped 1.3 percent to $1,110,336.
- Calabasas fell 6.3 percent to roughly $1.8 million and Hidden Hills dropped 12 percent to $5.3 million over the same period, per Redfin.
- Well located, updated, correctly priced $2 million plus homes sell in about 40 days, while dated or overpriced luxury listings sit 60 days or longer.
- The 30 year fixed mortgage rate averaged 6.69 percent as of August 6, 2026, after briefly dipping to 5.98 percent in late February, according to Freddie Mac.
- Ventura County's 2026 conforming loan limit is $1,035,000, versus $1,249,125 in Los Angeles County, pushing Thousand Oaks buyers into jumbo territory sooner.
If you own a home above $2 million between Lang Ranch and Lake Sherwood, you have probably heard two contradictory things this year: that luxury is red hot, and that nothing over $2 million is moving. Both are partly true. The single number that explains it best is this: Redfin reports the median U.S. luxury home sale price rose 4.7 percent year over year to $1.37 million in the three months ending May 31, 2026, more than triple the 1.5 percent gain in non luxury prices. Nationally, luxury is outperforming. Locally, the story depends on which city you are standing in.
Is the Conejo Valley luxury market actually slowing in 2026?
Volume is not collapsing. Pricing power is simply being redistributed. Luxury pending sales nationally rose 5.2 percent year over year, the largest gain since December 2024, while Realtor.com research shows national asking prices fell 2.5 percent in June 2026, the steepest annual drop since 2017 and the eighth consecutive month of declines. More buyers, softer asking prices. That combination is exactly what we are living in across the Conejo Valley.
The local expression of it is uneven. Westlake Village, Oak Park and Agoura Hills posted double digit gains. Thousand Oaks slipped 1.3 percent to $1,110,336. Calabasas and Hidden Hills both moved backward. When people ask whether the high end is pointing down, my answer is that the average is hiding the truth. If you want the granular breakdown of what is actually trading above $2 million right now, the property level detail matters far more than the citywide median.
Median Sale Price by Conejo Valley Area, Mid 2026
Source: Redfin market data, May and June 2026
What is the median home price in Westlake Village and Thousand Oaks in 2026?
Westlake Village recorded a median sale price of $1,848,894 in May 2026, up 35.9 percent year over year, and the 91361 zip code specifically closed at a $1.7 million median with a median price per square foot of $666. Thousand Oaks came in at $1,110,336, down 1.3 percent, with $535 per square foot. That $131 per square foot spread is the clearest measure of the premium buyers still pay to be inside the Westlake Village boundary, near North Ranch Country Club and walking distance to the lake path behind the Westlake Village Inn.
| Market | Median Sale Price | YoY Change | Median Days on Market | Median $/Sq Ft |
|---|---|---|---|---|
| Hidden Hills | $5,300,000 | 12.0% down | 64 | n/a |
| Westlake Village (91361) | $1,700,000 | 14.8% up | 41 | $666 |
| Calabasas | $1,829,005 | 6.3% down | 41 | $618 |
| Agoura Hills | $1,398,739 | 11.0% up | 44 | $548 |
| Oak Park | $1,249,320 | 13.6% up | n/a | n/a |
| Thousand Oaks | $1,110,336 | 1.3% down | 40 | $535 |
| Newbury Park | $1,110,000 | 3.8% up | 38 | $525 |
| Simi Valley | $849,000 | 0.1% down | 41 | $508 |
Redfin market data, May and June 2026. Small sample markets such as Hidden Hills swing widely month to month.
How long are $2 million plus homes sitting on the market in the Conejo Valley?
Median days on market across the Conejo Valley sits in a tight band of 38 to 44 days. Thousand Oaks is at 40 days, Agoura Hills at 44, Newbury Park at 38. That is a functioning market, not a frozen one. The trouble starts above the median. Hidden Hills listings posted a median of 64 days, and Calabasas Park recently ran 123 days against 17 days a year earlier. In my own experience across 500 plus closings, a $2 million plus Conejo Valley home priced correctly out of the gate typically draws its serious offer inside the first 21 days. Everything after day 30 is a negotiation about the original list price. That is a large part of why expired listings hit a two year high earlier this spring, and why the sellers who adjusted early kept more of their equity.
Year Over Year Median Price Change, Conejo Valley and Adjacent Luxury Markets
Source: Redfin market data, three months ending May and June 2026
Why are some Conejo Valley luxury neighborhoods up while others are down?
Three forces explain most of it. First, financing. The 30 year fixed rate mortgage averaged 6.69 percent as of August 6, 2026, according to Freddie Mac, after briefly dipping to 5.98 percent in late February. Many of the buyers who closed this spring locked during that window. Second, loan limits. Ventura County conforming financing tops out at $1,035,000 for 2026 while Los Angeles County reaches $1,249,125, so a Thousand Oaks buyer crosses into jumbo territory sooner than an Agoura Hills or Calabasas buyer on an identical price. That single line on the county map moves behavior, and it is one reason the buy now versus wait for the 5s question plays out differently here than nationally.
Third, and most decisive, is product quality. Luxury sales across the Conejo Valley are concentrating in renovated homes on usable lots in strong school attendance areas. Westlake High School holds a 10 out of 10 GreatSchools rating, and that boundary continues to underpin the North Ranch and Three Springs price floors. Buyers touring a Sunday open house on Lakeview Canyon still want dinner at Mastro's Steakhouse on Thousand Oaks Boulevard, a Saturday morning at The Stonehaus, and a trailhead like Wildwood Regional Park or the Los Robles and Lang Ranch trail network within ten minutes. Lifestyle is not a soft factor at this price point. It is the comp.
What should luxury buyers and sellers do in the Conejo Valley right now?
Sellers: price to the last 90 days, not to your neighbor's 2024 close. The pricing discipline that saved sellers thousands this spring came down to launching within 2 percent of true market value and investing in presentation before listing rather than in reductions after. If you are preparing a $2 million plus home, the full seller preparation checklist for this market is worth reading before you call a photographer.
Buyers: you have leverage on anything past day 45, and almost none on week one listings. Budget for carrying costs honestly. Ventura County homeowners generally pay an effective property tax rate near 1.1 to 1.3 percent of assessed value once voter approved bonds and assessments are layered on the Proposition 13 base, which you can verify through the Ventura County Assessor and confirm with your CPA. On a $2.2 million purchase that is roughly $2,000 to $2,400 per month before insurance. Comparing what a given budget buys in Thousand Oaks against equivalent Los Angeles inventory is also worth doing deliberately, because the square footage and lot difference at the same price is larger than most people expect.
Frequently Asked Questions About the Conejo Valley Luxury Market
Are luxury home prices falling in the Conejo Valley in 2026?
Not uniformly. Westlake Village rose 35.9 percent year over year to $1,848,894 in May 2026 and Oak Park rose 13.6 percent to $1,249,320, while Calabasas fell 6.3 percent and Hidden Hills fell 12 percent. Thousand Oaks was essentially flat at 1.3 percent down. Treat citywide medians in small luxury markets as directional, not definitive.
How many days does a $2 million home take to sell in Thousand Oaks?
Citywide median days on market in Thousand Oaks was 40 days in May 2026, with Newbury Park at 38 and Agoura Hills at 44. Above $2 million, expect a wider range. Correctly priced homes typically secure an offer inside three weeks, while overpriced or dated properties routinely pass 60 days.
Is now a good time to buy a luxury home in Westlake Village?
It depends on the specific property, not the market. With the 30 year fixed near 6.69 percent as of early August 2026 and Westlake Village inventory carrying an average of roughly 70 days on site in late spring 2026, aged listings are negotiable while new North Ranch and Lake Sherwood inventory still moves quickly. The advantage right now belongs to buyers who are prepared to act fast on the right home and patient on the wrong one.
What counts as a luxury home in the Conejo Valley?
Locally, $2 million is the practical threshold, roughly double the Thousand Oaks median of $1.11 million. Nationally the median luxury sale price was $1.37 million in the three months ending May 2026, while the Los Angeles metro luxury median reached about $4.5 million, which places most Conejo Valley luxury inventory between the national and metro benchmarks.
Thinking About Buying or Selling in the Conejo Valley?
Davis Bartels and the DB Real Estate Group have served families across the Conejo Valley and Ventura County since 2009, with 500+ closed transactions and nearly $500 million in career sales volume, including a career-best 99 closings and $103M+ in 2025. If any of this applies to your situation, reach out for a no pressure conversation.
Contact Davis: davisbartels.com or (805) 341-6125
