Market Update December 2017 – Conejo Valley and Surrounding Area

(Released December 3, 2017)


Buyers jumped on available homes looking for last minute deals at the end of the year.

  • Big surge (+63%) in new escrows last month.
  • Creating a 12% jump in median home prices to $775,000.
  • Buyers locked in low interest rates and favorable mortgage tax laws that may change in 2018.
  • Causing inventory of available homes to drop 18% to only 604 homes for sale.

(Read: Why Are There So Few Conejo Valley Homes For Sale)

What Should We Expect Going Forward

  • Expect new inventory of homes to be low this month.
  • As the usual holiday slowdown goes into full effect.
  • Which can lead to more motivated sellers willing to negotiate on price.
  • Creating good opportunities for home buyers.


According to the California Association of REALTORS,

  • The median price of a home is expected to increase 4.2% in 2018.
  • The number of home sales is expected to increase by 1%.
  • Interest rates are expected to climb to 4.3% on a 30 year fixed mortgage.

Market Snapshot

Home Prices

  • The median price of a Conejo Valley home was up in November to $775,000.
  • That’s 7 consecutive months up.
  • Prices are up 12% from $695,000 last November.
  • and $22,250 more than last month.

Home prices up 12%

Homes For Sale

  • November ended with 604 homes for sale.
  • Down 18% from last November.
  • That’s 133 fewer homes than last year.
  • and 53 fewer homes than last month.

Homes for sale down 18%

Days to Sell a Home

  • It took 58 days on average to sell a home in November.
  • Down 23% from last November.
  • 17 fewer days than last year.
  • and 3 more days than last month.

58 days to sell a home

Interest Rates

California Mortgage Rates
30 Year Fixed loading...
15 Year Fixed loading...
5/1 ARM loading...

Median Prices by City

(Prices below are for Oct 2017. City data is released a month late. Keep in mind that low volume of sales can cause large price fluctuations.)

City/County# SoldOct 2017Oct 2016Y-T-Y % Chg
Ventura County844$545,000$535,0001.9%
San Fernando Valley1144$585,000$549,5006.5%
Agoura Hills28$805,000$730,00010.3%
Newbury Park52$700,000$637,5009.8%
Oak Park15$670,000$850,000-21.2%
Simi Valley181$517,000$519,000-0.4%
Thousand Oaks89$662,000$612,5008.1%
Westlake Village
(Ventura County)
Westlake Village
(L.A. County)
Woodland Hills79$790,000$705,00012.1%

If you are looking for a home, here’s a great place to start: Conejo Valley Neighborhood Video Tours.

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