Market Update January 2018 – Westlake Village, Agoura Hills, Thousand Oaks, Oak Park, and Newbury Park

(Released January 5, 2018)


End of the year bargain shopping caused a huge jump in sales as the inventory of available homes continued to dwindle.

  • 195 homes went into escrow in December up 43% from last year.
  • And only 84 new listings came on the market.
  • Causing median home prices to jump 7% to $733,000.
  • While the inventory of available homes plunged 18% to only 516 homes for sale.

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

What Should We Expect Going Forward

  • January usually has a surge of new listings hit the market.
  • However, this year is forecast to be fewer homes than last.
  • Expect lower priced homes (under $1 mil) to sell relatively quickly.
  • But homes over $1 mil will likely take longer and have more competition.


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.
  • (Read: Detailed Conejo Valley 2018 Forecast)

Market Snapshot

Home Prices

  • The median price of a Conejo Valley home was up in December to $730,000.
  • That’s 8 consecutive months up.
  • Prices are up 7% from $684,500 last December.
  • and $45,000 less than last month.

Prices are up 7%

Homes For Sale

  • December ended with 515 homes for sale.
  • Down 18% from last December.
  • That’s 115 fewer homes than last year.
  • and 89 fewer homes than last month.

Homes for sale down 18%

Days to Sell a Home

  • It took 65 days on average to sell a home in December.
  • Down 13% from last December.
  • 10 fewer days than last year.
  • and 7 more days than last month.

65 days to sell a home

Interest Rates

California Mortgage Rates
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15 Year Fixed loading...
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Median Prices by City

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

City/County# SoldNov 2017Nov 2016Y-T-Y % Chg
Ventura County773$580,000$525,00010.5%
San Fernando Valley1020$590,000$543,0008.7%
Agoura Hills28$670,000$655,0002.3%
Newbury Park47$700,000$637,5009.8%
Oak Park12$882,500$599,00047.3%
Simi Valley168$550,000$516,0006.6%
Thousand Oaks88$744,500$652,50014.1%
Westlake Village
(Ventura County)
Westlake Village
(L.A. County)
Woodland Hills84$722,500$690,0004.7%

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


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