Market Update | September 2026

Westlake Village, Agoura Hills, Oak Park, Thousand Oaks and Newbury Park

My Quick Take: The Conejo Valley market still looks pretty stable. Prices are holding in the same general range, inventory is about the same, and homes are still selling. But the market feels different. Buyers are more cautious, more selective, and less willing to stretch.

Here’s a quick look at where we are today.

Local Snapshot | End of August

Prices remain relatively flat, up 9% year-over-year, but bouncing between 1.1M-1.2M annually → Median home price: $1,199,000
579 active listings, compared to 658 this time last year — inventory should trend slightly down the rest of the year.
Homes are taking 41 days to sell – vs 45 days last year
Price Reductions were averaging roughly 35 price a week, or about one out of every four homes currently for sale having its price adjusted.
Mortgage rates ended July at approx. 6.7% – down from 6.6% last year, but more volatile due to war concerns.

My View From Inside

Last month, I wrote that the median price dropped below $1.1 million for the first time in quite a while. I wondered if prices finally broke through the floor and were starting to come down.

But one month doesn’t make a trend.

August bounced right back to about $1.199 million, which suggests that last month was a blip and the market really hasn’t changed much. Prices continue to bounce around within the same general range.

But even though prices look steady, the market doesn’t feel quite that steady.

Homes Are Still Selling. Buyers Are Just More Selective.

Buyers are still buying, but they’re moving more cautiously, taking their time and weighing their options. The market just feels a little unsure.

Buyers are less willing to overlook things they don’t like, and hesitant to stretch on price.
Sellers are having a harder time finding buyers, and deals feel a little harder to keep together once you have one.

The number of price reductions supports that too.

When roughly one out of every four listings is having its price adjusted, that tells me buyers are looking elsewhere when they don’t see the value.

A good example happened this week in Oak Park.

I showed a home that just hit the market and was surprised how busy it was. Two other agents were showing it at the same time, and the seller said they’d had a lot of activity. I suspect it will receive multiple offers.

Later that same day, an agent called me who is also selling a different home in Oak Park. Her experience has been the opposite. Activity has been so limited that her seller is now considering a contingent offer they would never have considered in a stronger market.

And that’s the market in a nutshell. Some homes are getting a ton of attention, while others are barely getting noticed.

But overall, the market is still moving. There were 153 sales last month compared with 160 during the same month last year. That’s almost no change at all.

WHAT ABOUT INTEREST RATES?

Mortgage rates are part of this too. Earlier in the year, there was a lot of hope that rates would drop below 6%. That hasn’t happened. Rates have stayed high enough to keep affordability difficult, which I think is one reason buyers are being more cautious.

What to Expect This Fall

We’re now coming out of the normal summer slowdown.

Typically, activity picks back up in September and October before slowing again around Thanksgiving and the holidays.

I’m already seeing a few signs of that. More buyers have been reaching out lately and wanting to get back out and look at homes, which may be an early indication that some of that fall activity is starting to return.

The real question is whether that fall pickup continues, or buyers stay as cautious as they’ve been lately.

Bottom Line

For Buyers: You have more room to be selective right now, and probably a little more room to negotiate in some situations. But certain homes do get a lot of attention. So if a new listing grabs your attention, it’s probably grabbing other buyers’ attention too. Be prepared to act quickly.

For Sellers: Preparation and pricing matter a lot in this market. Get the house ready, price it where you think it will attract attention, and then pay attention to the response. If buyers aren’t showing interest, there’s a very good chance the price is the problem. It’s wise to listen to what the market is telling you.

Questions about your specific situation? I’m happy to help. Contact Me