Westlake Village Luxury Homes Beat LA County by 17% in 2024

In 2024, the Westlake Village luxury market outpaced Los Angeles County by a wide margin. The median sale price of a home in Westlake Village reached $1.6M in 2024, up 26.7% year over year, while Los Angeles County's median sale price rose from $849,000 in 2023 to around $910,000 in 2024, representing approximately 7.2% growth according to Redfin market data. That is a gap of roughly 17 percentage points. One caveat: these are citywide medians, so the figure reflects the whole Westlake Village market rather than luxury sales alone.

Three things drove it: sales above $10 million doubled year over year, inventory stayed tight in the premium neighborhoods, and cash-heavy buyers kept showing up looking for a better quality of life. Each of those still matters if you own or are shopping in this segment.

Why Did Westlake Village Luxury Homes Outperform Los Angeles County in 2024?

Start with the buyers. The biggest driver was cash buyers looking for a lifestyle upgrade, many of them relocating from denser parts of Los Angeles County.

Generational wealth transfers and S&P 500 gains near record highs let buyers to make cash offers that would otherwise be difficult to finance at current interest rates, with cash purchases hitting their highest point in 10 years. This cash dominance insulated the luxury market from interest rate sensitivity that affected lower price points.

Supply tightened at the same time. Westlake Village recorded 191 closings in the first half of 2025, down from 214 in the same period of 2024, an 11% drop in volume. The median sold price in that data set still climbed to $2.05 million from $1.91 million, and the average rose to $2.72 million from $2.55 million. Fewer homes sold, at higher prices.

Location advantages also played a crucial role. Westlake Village sits approximately 38 miles from Downtown Los Angeles, close enough for commuting yet far enough to offer a more relaxed pace of life, positioned in the northwestern section of the Santa Monica Mountains and adjacent to the Santa Monica Mountains National Recreation Area. That combination of access and open space is a big part of the appeal.

Educational quality provided another significant draw. Conejo Valley Unified School District ranks #213 out of 1,908 school districts in California (top 20%), with an average testing ranking of 9/10 and math proficiency scores of 54% versus the California average of 34% according to GreatSchools ratings. Westlake High School has a strong local reputation across academics, athletics, performing arts, and electives.

What Are Current Westlake Village Home Prices and Market Trends in 2025?

Pricing data from early 2025 showed a multi-tiered market. The median home sold price in Westlake Village was $1,540,000 in March 2025, up 3.4% from March 2024, with a median price per square foot of $650. However, this median masks significant variation between neighborhoods and property types.

Other measures run higher. Depending on the source, time window and property type, the median lands closer to $1.67 million while the average sales price is nearer $2.58 million. That gap between median and average is the ultra-high end pulling the average up.

Market velocity has stabilized. The average time to sell was 47 days in 2025 versus 48 days in 2024, so homes priced to market are not lingering. A single monthly snapshot can look very different: one October showed 70 days on market versus 27 a year earlier, on 11 sales versus 8. With that few transactions, one or two slow listings move the average a lot.

Pricing discipline matters more than it did. Sellers received 97.6% of asking price on average, nearly identical to 2024, so correctly priced homes still close near list. Buyers are taking more time to negotiate, and ambitious listings tend to sit.

How Is Luxury Home Inventory Performing in the $2M+ Range?

The $2M+ segment was the strongest part of the market. The $2 million to $4 million range closed 16% more sales in Q1 2025 than in Q1 2024, and sales above $10 million doubled over the same period, while the $1 million to $2 million and $4 million to $10 million tiers softened.

Active listings rose slightly to 433 from 410, with a median list price of $2.375 million and a top listing of $30 million, up from $18.9 million a year earlier. A $30 million ask says something about seller confidence at the very top, though one listing is not a trend.

Geographic concentration within luxury inventory favors established enclaves. Buyers are largely targeting custom-built homes in neighborhoods like Southshore Hills, The Colony, and Westlake Trails, areas offering a mix of gated communities, lakefront properties, and secluded lots in the hills. The most expensive neighborhoods include North Ranch (luxury homes with golf course views), Lakefront (lake views, as advertised), and Southshore Hills (large estates and proximity to amenities).

Luxury market dynamics differ from broader trends. The $1.5M+ category showed healthy buyer demand with the average sale price up 5% and total dollar volume rising 14%. Over 32% of total sales in Conejo Valley fell into the luxury category, driven by demand from relocating professionals, coastal retirees, and cash-rich investors.

The rental luxury market provides additional context. The median rent across all property types in Westlake Village is $5,700, 185% above the national median, which points to steady demand for the area at every price point.

What Do Real Estate Experts Predict for Westlake Village in 2025?

Forecasts pointed to continued strength, with growth cooling from the 2024 peak. One published long-range forecast puts the average Westlake Village price near $1.3 million by 2030, roughly 11% above its own baseline over five years. Treat that as directional at best: its baseline sits below the medians quoted above, and no forecast model knows your street.

Zoom out to the Conejo Valley as a whole and the picture is flatter: prices up about 3% year over year, hovering between $1.1 million and $1.2 million, with the regional median at $1,116,250, and mortgage rates at approximately 6.2%, down from 6.8% a year earlier according to Federal Reserve data.

The market has shifted from an extreme seller's market to a balanced one. Inventory is up 68%, which means more competition among sellers, though buyer demand has held up, especially above $1.5 million.

The fundamentals are steady. Westlake Village has a population of just over 8,000, a low-density suburban feel, a median household income of nearly $189,000 (well above state and national averages), and housing that is primarily owner-occupied, which draws families, retirees, and professionals.

The area also benefits from proximity to major employment centers while keeping its suburban character.

How Does the Conejo Valley Market Compare to Greater Los Angeles?

The performance gap between Conejo Valley and greater Los Angeles County reflects fundamental differences in market dynamics, buyer profiles, and supply constraints. Los Angeles County median home prices have run between $895,000 and $942,000 depending on the month measured, with some monthly readings showing year-over-year growth under 1%, while Westlake Village posted far higher appreciation.

Los Angeles County's own luxury tier was not weak. Luxury home sales climbed 6.8% year over year with single-family homes in Bel Air averaging $15 million (up 8% from 2024) and West Hollywood luxury condos hitting $4 million (6% jump). However, real estate scarcity eased with active listings rising 40% county-wide, shifting from a seller's market to a balanced 19% sales ratio.

Within the Conejo Valley, Westlake Village is generally more expensive than Thousand Oaks and Agoura Hills, reflecting its affluent community, quality schools, and amenities.

Safety and quality of life differentials support premium pricing. Westlake Village has a violent crime rate 74% lower than the California average, with law enforcement managed by both LA County and Ventura County Sheriff's Departments. That is part of what buyers are paying for.

The broader LA County context shows mixed signals. Data from the California Association of Realtors shows Los Angeles is the fourth most expensive county in southern California to buy a single-family home, behind Orange, San Diego and Ventura. The city of Los Angeles, meanwhile, struggles to add supply: zoning restrictions and high labor costs make building difficult, and against a goal of 456,643 new housing units this decade, it permitted only 7,038 apartment units and 1,545 single-family homes in the most recent year reported.

For buyers weighing a move, the Conejo Valley offers an alternative to denser LA markets without giving up access to employment centers. For owners thinking about selling in Westlake Village, those relocating buyers are the audience.

Frequently Asked Questions About Westlake Village Luxury Market 2025