My View From Inside

We’re officially halfway through the year, and the Conejo Valley real estate market seems to be finding its rhythm.

Inventory is on the rise, and the buyers who were hesitant earlier in the year due to economic uncertainty are returning. At the same time, sellers who initially overpriced their homes are adjusting to meet the market.

So who has the upper hand, buyers or sellers? It depends.

A Tale of Two Markets

The current market is telling two very different stories, depending on which price range you’re in.

The Move-Up Market Is Hot

The move-up market is heating up. Homes priced between $1.5M and $1.8M are seeing strong demand, with many selling with multiple offers – often with cash buyers. 

Cash buyers have surged from 7% last year to 24% this year, giving them a strong advantage in today’s market.

The First-Time Buyer Market Is Cooler

Meanwhile, the first-time buyer market is much softer. Many younger buyers have been sidelined by high interest rates and affordability concerns. They’re still looking, but they’re taking their time and searching for deals.

Price Reductions Are On the Rise

Today’s home buyers are much more price-sensitive. Sellers who tested the market with aggressive pricing are learning that strategy no longer works.

Inventory in the Conejo Valley has climbed 41% year-over-year, from 427 homes in June 2024 to 602 homes this June. That’s a significant jump, giving buyers more choices and sellers more competition.

And the market is reacting. In just the final week of June, 66 homes reduced their price. That’s over 10% of the entire active inventory in one week. (To put that in perspective, 10 – 20 price drops used to be considered normal for a week.)

Local Snapshot (Conejo Valley – End of June):

• 602 active listings, compared to 427 this time last year — a 41% increase

• Homes are taking longer to sell – 54 days on average

• Price reductions are more frequent, 50+ per week

• Prices remain relatively flat, down 4.9% year-over-year, but bouncing between 1.1M-1.2M annually.
   → Median home price: $1,170,000

• Mortgage rates ended June at approx. 6.5% – a 3 month low

🗝️ Bottom Line:

For Buyers:
You’ve got more options and more negotiating power than we’ve seen in a while. While the best homes still go quickly, overpriced listings are lingering, creating motivated sellers, especially if you’re patient.

For Sellers:
It’s no longer a wise strategy to “test the market.” With inventory climbing and buyers being more selective, pricing your home right from day one is essential. The first 2 weeks are your best shot to capture attention before buyers move on to newer listings.

💬 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