Ask a Calabasas resident where they shop and two names come up: The Commons at Calabasas and The Oaks in Thousand Oaks. The median sold price in Calabasas was $1,775,000 in January 2026, and while nobody buys a house for the mall, nearby retail and dining are part of what people pay for here. Here is how The Oaks and The Commons compare, and what that means if you own or are buying in Calabasas.
Key Takeaways
- The Oaks in Thousand Oaks has 180+ stores and 6,500 parking spaces, while The Commons at Calabasas has 40 tenants in 215,000 square feet.
- The Calabasas median sold price was $1,775,000 in January 2026. Year-over-year change varies widely by data source, from a slight decline to a gain above 25%.
- The Commons at Calabasas offers upscale dining including Sugarfish by Nozawa and Toscanova, while The Oaks features traditional mall restaurants like Cheesecake Factory and Olive Garden.
- Calabasas High School maintains a 9/10 GreatSchools rating with a 95% graduation rate and average SAT scores of 1330 within the top-ranked Las Virgenes Unified School District.
- Single-family homes in Calabasas average $2,250,000 while condos cost around $629,000, with properties spending a median 40 days on market.
The Oaks and The Commons are distinct Calabasas area shopping centers. The Oaks, in Thousand Oaks, is a 180+ store indoor/outdoor mall with 6,500 parking spaces. The Commons at Calabasas is a 215,000 square foot outdoor center with 40 tenants, including Sugarfish by Nozawa. The Commons sits closer to Calabasas, whose median home price reached $1,775,000 in January 2026.
What Are the Key Differences Between The Oaks and The Commons?
The Oaks is a two-level indoor/outdoor, regional shopping mall located in Thousand Oaks, California. Accessible from US Highway 101 (the Ventura Freeway) midway between downtown Los Angeles and Santa Barbara, it is the largest shopping center in Ventura County. The mall features JCPenney, Macy's, Macy's Men's and Home Store, Nordstrom, in addition to a 14-screen dine-in AMC Theatre . In contrast, The Commons at Calabasas opened in 1998 as a high-end outdoor mall. The 215,000-square-foot outdoor marketplace is located in Calabasas in Los Angeles County, California. Renovated to be a retail resort, its 40 tenants provide everyday needs, lifestyle/specialty shops, and entertainment . The architectural styles differ dramatically. Development of the upscale retail and entertainment complex began with a vision of an Umbrian village, complementing the community's Mediterranean style. Caruso Affiliated was designed resembled a hill town of the Umbria region in rural Italy . Meanwhile, The Oaks underwent an extensive upgrade including interior finishes, restrooms, entrance canopies and skylights to reflect a modern Spanish and Santa Barbara-influenced design .
Source: Shopping center websites and Wikipedia, February 2026
Which Shopping Destination Better Serves Calabasas Residents?
For Calabasas residents, proximity usually settles it. The Commons is in town, while The Oaks sits in neighboring Thousand Oaks, roughly 10 to 15 minutes up the 101. That gap matters more for a weeknight dinner or a quick errand than for a Saturday outing. Recent additions at The Commons include Superba Food + Bread (opened March 28, 2025, with California classics like burgers, sandwiches and salads), KazuNori, BLVD Steak, Bacio Di Latte and Zimmermann. Established favorites include Sugarfish by Nozawa for sushi, King's Fish House for seafood and Marmalade Cafe for American fare. Dining at The Oaks is more traditional mall fare: Subway, The Cheesecake Factory, Chipotle Mexican Grill, Olive Garden and StoneOven Gourmet Sandwiches & Salads, among others. Toscanova, an Italian trattoria at 4799 Commons Way, is a good example of the more elevated side of The Commons, with a menu of pasta, seafood and steaks. Check current hours before you go.
What Are Current Home Values in Calabasas in 2026?
As of January 2026, reported Calabasas medians ranged from $1,638,927 (down 2.9% year over year according to Zillow) to $1,820,000 (up 25.52% according to Houzeo), with a median sold price of $1,775,000. That is a wide spread, and it comes down to different sources measuring different things at different times. Days on market shows the same split: 96 days by some sources, 40 by others. With 93 active listings, 36 new listings and 15 closed sales in the month, this is a thin enough market that a handful of large sales can move the median noticeably, so treat any single headline number with some caution. For a longer view on the area as an investment, see this look at rental homes in Thousand Oaks and Westlake Village.
| Market Metric | January 2026 Data | Year-over-Year Change |
|---|---|---|
| Median Sold Price | $1,775,000 | +25.52% (Houzeo; other sources differ) |
| Median New Listing Price | $2,410,000 | Data not available |
| Active Median Price | $2,699,000 | Data not available |
| Sale-to-List Price Ratio | 96% | +1.44% |
| Days on Market | 40 days | Data varies by source |
Pricing varies a lot by property type: condos average around $629,000, while single-family homes average about $2,250,000. At the top end, homes in The Estates at The Oaks (a Calabasas residential community, not the mall) generally start around $5 million and run past $20 million.
How Do School Ratings Affect Property Values in This Area?
Las Virgenes Unified School District (LVUSD) is consistently well regarded and runs 15 schools, preschool through high school, serving Agoura Hills, Calabasas, Hidden Hills, Bell Canyon and Westlake Village. School quality is one of the steadier supports under property values here. Calabasas High School holds an A grade on Niche and a 9/10 GreatSchools rating, with an average GPA of 3.68, a 95% graduation rate, an average SAT of 1330 and an average ACT of 30. The district also offers AP Capstone, an Arts and Media Academy, International Baccalaureate, Independent Study, GATE, Dual Language Immersion and a public Waldorf TK-8 program, along with strong music, art and athletics programs. For residents of gated communities like The Oaks, the combination of nearby shopping and highly rated schools is a big part of what buyers are paying for, and it tends to cushion values when the broader market softens. First-time buyers in the area often put schools near the top of their list.
Frequently Asked Questions About Shopping in Calabasas
How far is The Oaks from The Commons at Calabasas?
The Oaks shopping center in Thousand Oaks is approximately 8 miles northwest of The Commons at Calabasas, typically a 10-15 minute drive via Highway 101. Both centers serve the greater Conejo Valley area, but The Commons offers more convenient access for Calabasas residents.
Which shopping center has better luxury brands?
Neither is a Rodeo Drive lineup. The Commons at Calabasas has 40 tenants, including Barnes & Noble, See's Candies, Lululemon and, more recently, Zimmermann. The Oaks has the department stores (Nordstrom, Macy's, Macy's Men's and Home Store, JCPenney) plus specialty retailers like Arhaus. If you want depth of selection, The Oaks wins; if you want a curated, walkable outdoor center, The Commons does.
Is construction at The Commons affecting shopping experience?
The Commons is staying open through every phase of construction, with existing stores, restaurants and amenities operating as usual. Builders have said some of the new stores and restaurants could open by the end of 2026. Expect some construction activity in the meantime, but no closures.
Which location is better for families with children?
The Oaks runs holiday events (photos with Santa, the Easter Bunny in April, candy on Halloween) and a free monthly Little Oaks Kids Club for toddlers and young children, with crafts, music and storytimes. The Commons has less structured programming but is an easy, walkable outdoor center for a family afternoon. For scheduled kids' activities, The Oaks has the edge.
Thinking About Buying or Selling in Calabasas?
Davis Bartels and DB Real Estate Group have closed 500+ transactions since 2009. If you are weighing a move in Calabasas, or just want a second opinion on what your home is worth, happy to talk it through.
Contact Davis: davisbartels.com
