Market Update | November 2026

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

_{Published monthly since 2012}

My Quick Take: If you’re buying, you may be wondering why homes are sitting longer, but sellers aren’t accepting less. If you’re selling, you may be wondering why prices are up and inventory is down, yet your home isn’t getting much attention. Both are reasonable questions. This month’s numbers help explain how those two experiences can exist in the same market.

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

Local Snapshot | End of October

Prices remain relatively flat, up 4.3% year-over-year, but bouncing between 1.1M-1.2M annually → Median home price: $1,147,500
502 active listings, compared to 541 this time last year — inventory should trend slightly down the rest of the year.
Homes are taking 67 days to sell – vs 65 days last year
Price Reductions are averaging roughly 50 a week, meaning about 10% of the homes currently on the market are seeing a price reduction each week.
Mortgage rates ended October at approx. 7.3% – up from 6.3% last year, but more volatile due to inflation concerns.

My View From Inside

This feels like a market where buyers should have the upper hand. Many homes are sitting, sellers are reducing prices, and buyers are taking their time.

But then I look at the numbers, and they don’t really match that feeling:

Prices are up
Fewer homes are for sale
And sellers who do sell are getting about 95% of their original asking price – about the same as last year.

Then it hit me: The numbers don’t include the sellers who tried to sell and didn’t.

In other words, the data paints a rosier picture than what we’re actually seeing in the marketplace.

With unsold listings up 64% and closed sales down 20%, it’s clear that sellers are having a tougher time. Even though prices have remained relatively stable, I’m seeing more sellers take their homes off the market and bet on things getting better next year.

Buyers are asking: “If Homes Are Sitting, Why Aren’t Sellers Accepting Less?”

If you’re a buyer, I can understand looking at a house that’s been sitting for months and wondering, “Why won’t they come down on the price?”

Some sellers will. But others would rather take their home off the market than accept what a buyer is willing to pay today. Some of those sellers believe they’ll get a better price next year. Maybe they will, but they’re gambling on a market no one can predict.

That’s part of the disconnect I’m seeing. Buyers expect a better deal because homes aren’t selling. Sellers think they can get more if they wait. Who’s right? We don’t know yet.

Sellers are asking: “If Prices Are Up and Inventory Is Down, Why Isn’t My Home Selling?”

Buyers are being more selective. They may be looking at your home, but they’re also deciding whether another home is a better choice, or if they’d rather wait.

Your price, condition, location, and the other available homes all matter more to that decision than whether overall median prices went up.

If you’re getting little activity, it often comes down to condition and price. The challenge is finding a price that gets buyers interested without leaving money on the table

Will Next Year Be Different?

Every year, the California Association of Realtors comes out with their market forecast. Based on the uncertainty in the air, I was bracing myself for a fairly gloomy forecast for 2027.

Instead, C.A.R. is projecting a modest pickup in sales, a small increase in prices, and steady mortgage rates.

Home sales up 3.7%
Median home prices up 1.4%
Mortgage rates averaging 6.6%, the same as its 2026 projection

That’s the forecast for all of California. It suggests neither a collapse nor a dramatic improvement in the market. In other words, the market we’re in will probably remain this way for awhile.

There’s some reassurance in that.

Market conditions matter. But your budget, your reasons for moving, and the tradeoffs you’re comfortable making should matter more.

Bottom Line

For Buyers: The next few months is a great time for bargain shoppers. There’s less competition from other buyers and many of the sellers on the market need to sell. If a home you like has been sitting, make an offer you’re comfortable with. You may be surprised by the response.

For Sellers: If your home isn’t getting many showings, you should start by looking at what buyers can get for the same money. That’ll help you decide whether it’s worth making a few improvements or adjusting the price. Waiting is an option if the timing works better for you. I just wouldn’t count on a better offer next year.

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