Market Update October 2017 – Conejo Valley and Surrounding Area

(Released October 2, 2017)


Lack of inventory continued to be an issue for buyers and that trend shows no signs of changing.

  • The fall listing surge hasn’t happened so far and may not this year.
  • Only 219 new homes came on the market last month while 254 went into escrow.
  • Leading to another big drop in inventory – down 20% to 715 homes vs. 895 last year.
  • And the median price of a home continued up 3% to $773k in September.

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

What Should We Expect Going Forward

  • Expect homes under $1 mil to continue to sell relatively quickly in high demand neighborhoods.
  • But homes over $1 mil face more competition, fewer potential buyers, and take longer to sell.
  • Buyers waiting for a surge of inventory may grow impatient.
  • As homeowners are staying put and demand continues to rise.


According to the California Association of REALTORS,

  • The median price of a home is expected to increase 4.3% in 2017.
  • The number of home sales is expected to increase by 1.3%.
  • Interest rates are expected to climb to 4.0% on a 30 year fixed mortgage. (Read: Detailed Conejo Valley 2017 Forecast)

Market Snapshot

Home Prices

  • The median price of a Conejo Valley home was up in September to $773,125.
  • That’s 5 consecutive months up.
  • Prices are up 3% from $747,500 last September.
  • and $16,875 more than last month.

Home prices are up 3%

Homes For Sale

  • September ended with 716 homes for sale.
  • Down 20% from last September.
  • That’s 180 fewer homes than last year.
  • and 55 fewer homes than last month.

Homes for sale down 20%

Days to Sell a Home

  • It took 58 days on average to sell a home in September.
  • Down 14% from last September.
  • 9 fewer days than last year.
  • and 8 more days than last month.

58 days on avg to sell a home

Interest Rates

California Mortgage Rates
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15 Year Fixed loading...
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If you are looking for a home, here’s a great place to start: Conejo Valley Neighborhood Video Tours.

Median Prices by City

(Prices below are for Aug 2017. City data is released a month late. Keep in mind that low volume of sales can cause large price fluctuations.)
Prices Released October 2, 2017

City/County# SoldAugust 2017August 2016Y-T-Y % Chg
Ventura County977$565,000$533,7505.9%
San Fernando Valley1379$585,000$540,0008.3%
Agoura Hills27$777,000$720,0007.9%
Newbury Park74$747,000$700,0006.7%
Oak Park23$847,500$605,00040.1%
Simi Valley178$563,000$520,0008.3%
Thousand Oaks113$679,500$670,0001.4%
Westlake Village
(Ventura County)
Westlake Village
(L.A. County)
Woodland Hills133$722,750$660,0009.5%

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