Market Update | June 2025
Westlake Village, Agoura Hills, Oak Park, Thousand Oaks and Newbury Park
By: Michael Rice | June 4, 2025
My View From Inside
The seller’s market is officially over…for now
After a solid 10+ year run, the market has definitely shifted to a more balanced market at best, to a full blown buyer’s market in many parts of the Conejo Valley.
There Are More Homes Than Buyers Right Now
Inventory is Rising Fast. At the end of May, there were 555 homes for sale—the most we’ve seen in 5 years and up 53% from last year. But unlike five years ago, today’s higher home prices and mortgage rates are holding back demand.
At the end of May, Redfin reported that there are 33.7% more sellers than buyers.
Price reductions, once a rare occurrence, are now common with 56 price reductions in the Conejo Valley in the last week alone. Not long ago, a home would list on Friday and sell over asking price by Monday. Those days are behind us, at least for now.
Buyers Are Taking Their Time. With mortgage rates still high and economic uncertainty lingering, many buyers are hitting pause. The sense of urgency just isn’t there right now.
Looking Ahead: What Could Happen in the Second Half of 2025?
Many experts still expect interest rates to come down later this year. If that happens, we could see a surge in activity and rising home prices even with demand currently on the lighter side.
Local Snapshot (Conejo Valley – End of May):
- 555 active listings, compared to 363 this time last year — a 53% increase
- Homes are taking longer to sell – 50 days on average
- Price reductions are becoming more frequent
- Prices remain resilient, up 1% year-over-year
→ Median home price: $1,209,000
- Mortgage rates ended May at 6.8% – down from 7.1% last year
🗝️ Bottom Line:
For Buyers:
This is a rare window of opportunity. You’ve got more homes to choose from and sellers are far more negotiable than they’ve been in years. If rates drop later in the year, competition will pick up fast. Acting now could put you ahead of the curve.
For Sellers:
Don’t ignore the signs. If your home is getting showings but no offers, you might be slightly overpriced. But if you’re not getting any showings at all, the market is speaking loud and clear. Buyers haven’t disappeared, they just have more options. “If your price isn’t compelling, it’s not selling.” Be proactive with pricing so you don’t miss the market.
💬 Ready to Make a Move?
Whether you’re buying or selling, the market is shifting—and strategy matters. Let’s connect for a quick, no-pressure conversation about your options.
Let’s talk: (818) 384-9929 | Michael@ConejoValleyGuy.com
Read: My Advice for a Successful Home Purchase or Sale This Year
Buying in 2025 Selling in 2025
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What to expect moving forward
- Inventory is on the rise: And there appears to be no stopping it. More sellers are listing and fewer buyers are looking. Inventory normally peaks in June for the year.
- Mortgage rates will stay active: Rates are projected to hover in the mid-to-upper 6% range throughout the year. Buyers should keep an eye on fluctuations.
- A slower return of buyers: Listings are growing faster than buyer demand, shifting the market toward a more balanced—or even buyer-friendly—environment. A reduction in rates could see that change quickly.
- Opportunities to negotiate: Homes sitting on the market for 30+ days may offer more flexibility on price. Don’t be afraid to make an offer.
Seller’s Corner
The rise in available homes is tilting the market away from sellers. We’re no longer in the red-hot seller’s market of the past. That’s why pricing your home right from the start is more important than ever. Today’s buyers are quick to jump on homes that are well-priced and move-in ready—but if you miss that initial window of interest, it can be tough to regain momentum later, even with a price cut.
What's The 2025 California Forecast?
According to the California Association of REALTORS
- The median price of a home is expected to increase 4.6% in 2025.
- The number of home sales is expected to increase 10.5%.
- Interest rates are expected to average 5.9% in 2025.
Market Snapshot
For Sale
- The median price of a Conejo Valley home was up in May to $1,209,000.
- That’s 2 months up year over year.
- Prices are up 1% from $1,198,000 last May.
- And up $35,112 from last month.
For Sale
- May ended with 555 homes for sale.
- Up 53% from last May.
- That’s 192 more homes than last year.
- And 80 more homes than last month.
Days on Market
- It took 50 days on average to sell a home in May.
- Up 6.4% from last May.
- That’s 3 more days than last year.
- And 5 more day than last month.
