Nicki & Karen

2019 Q1 Conejo Valley Housing Market in Review

Nicki & Karen » April 15, 2019

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Aerial view of Conejo Valley homes

The Conejo Valley is a highly appealing destination in Southern California that provides prospective buyers with a wide range of homes to select from, from condominiums and townhomes to luxury properties, ranches and estates. Most properties in the Conejo Valley are single-family residences typically ranging from ranch-style homes to estate homes. The ranch-style properties are found in abundance within the more rural communities such as Somis, Agoura Hills and Hidden Valley.

No matter which area you’d like to live in, the Conejo Valley housing market is largely a very strong one that has been positive for both buyers and sellers alike. As has been the case for the past five years, the Conejo Valley housing market is thriving and has recently posted fantastic quarter one results. Many communities in this area are considered to be balanced markets, which means that both the buyer and seller benefit from the good health of the market.

Inventory levels are also fantastic for buyers who are searching for the right home. In Westlake Village alone, there are currently more than 340 homes on sale, which means that you should be able to find a property that meets your needs. While the relatively high inventory of available homes in the Conejo Valley is great for buyers, the sale price in relation to the listing price is fantastic for sellers. In most locations throughout the Conejo Valley, the sale price of a home is only a couple percent lower than the listing price, which ensures that sellers are often able to get close to their asking price.

If you’re thinking about buying or selling a home in the Conejo Valley, we always recommend that you work with a local realtor, but you should make an effort to learn more about the local housing market. Starting informed will keep you up to date about recent trends in a manner that should assist you in getting the best price for your home!

29907 Oakvista Ct in Agoura Hills, sold by Nicki & Karen Southern California Luxury Real Estate

Agoura Hills

When taking a look at the housing market of Agoura Hills, this community has seen consistent performance from the end of 2018 to March of this year. The median listing price for a home in Agoura Hills in December 2018 was at $875,000. While the median listing price for February dipped to $825,000, March saw a rebound at just under $900,000. The slight growth in the home prices from the end of 2018 matches the growth seen over the past five years. The consistency of these prices means that you’ll know exactly what to expect from the housing market whether you’re a buyer or seller.

The current sale price for a home sold in Agoura Hills is a little over $900,000, which is somewhat higher than the median listing price in this community. To get a better idea of what you should pay for a home in Agoura Hills, the price per square foot is right around $415, which is an increase of a few dollars from the end of 2018. There are currently around 150 homes on the market, which is a healthy inventory for the city. These homes typically stay on the market for anywhere from 50-60 days.

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Avalon Ranch
Avalon Ranch in Calabasas, CA represented by Nicki & Karen Southern California Real Estate

Calabasas

Calabasas is among the more popular destinations in the Conejo Valley, which is evident when looking at its housing market. Of the 354 homes that are currently on the market in Calabasas, the median listing price for a home is situated right around $1.2 million, which is essentially unchanged since the end of 2018. While the average listing price dipped by around $50,000 in January, it rose to the usual levels of $1.2 million in both February and March.

The consistency of the market in the first quarter of 2019 is a great sign for both buyers and sellers who are looking to enter the market in the near future. The median sale price for a home in this community is a little under $1 million. While this is a decrease of around $200,000 when compared to the listing price, there have been months over the past year where the median sale price was actually higher than the median listing price. The price per square foot is right around $462, which should help with your calculations when looking at new homes as a buyer. Because of the large number of homes available in Calabasas at the moment, you’re certain to find a property you’re interested in as a buyer.

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11113 Rocky High Santa Rosa Valley
One of our sold properties, 11113 Rocky High in the Santa Rosa Valley

Camarillo

Camarillo is among the largest areas in the Conejo Valley, which is displayed by the fact that 384 homes are currently on sale in the city. The median listing price for a home in Camarillo was around $620,000 for the month of March 2019, which is up from just under $600,000 at the end of 2018. The growth over the last three months in the Camarillo housing market has allowed for a very healthy first quarter.

The median sale price for a home in this community is $610,000, which means that sellers typically don’t need to drop much from their initial asking price. This market is considered to be a balanced one, which means that it’s advantageous to both buy and sell a home at this moment. While home prices have increased somewhat over the past few months, these increases show buyers that their home will retain its value. The price per square feet for a home in Camarillo during March was $343, which is up by $3 since December.

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Hidden Hills

If you’re thinking about purchasing a home in the beautiful Hidden Hills community, the housing market for quarter one of 2019 has displayed strong growth. This market has always been a consistent one, which means that you should usually know what to expect when entering into the market.

The median listing price for a home in Hidden Hills increased from $1.5 million at the end of 2018 to $1.65 million in March of this year. Homes in this community range from $150,000 to $25 million in price, which makes it all the more surprising that the market is as consistent as it is. There are currently just over 200 homes on the market, which have a median listing price per square foot of $500. The median sale price for March rested at $1.4 million, which isn’t too far off the median listing price.

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929 W. Potrero Road in Hidden Valley, CA represented by Nicki & Karen Southern California Luxury Real Estate

Hidden Valley

Hidden Valley is a wonderful community in the Conejo Valley that offers a rural setting for prospective homeowners. There are only around 60 homes in the entire community, which means that the average number of homes on the market in a given month is around 5-10. At the end of 2018, the median listing price for homes in Hidden Valley was around $11.5 million, which has since decreased to $11.2 million.

Given the expensive nature of these homes, the decrease in the median listing price is natural. The median listing price per square foot is close to $1,200, which has increased slightly since a few months ago. Overall, the market is a consistent one with homes that retain their value.

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Villa del Lago estate in Lake Sherwood, CA
The Villa del Lago estate in Lake Sherwood, represented by Nicki & Karen Southern California Luxury Real Estate

Lake Sherwood

As of March 2019, there are 170 homes for sale across the five neighborhoods in Lake Sherwood. These homes have an average listing price of $1.25 million, which has increased by $125,000 since the end of 2018. These increases have been steady across the first few months of the year, which points towards a lasting trend. If you’re thinking about selling your Lake Sherwood home, now would likely be the time to do so.

The market is also a balanced one, which ensures that neither sellers or buyers should experience too much competition. While the listing price is $1.25 million, the sale price is higher at $1.4 million. The listing price per square foot for a home in this neighborhood is around $476.

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6110 Merritt Drive Malibu
6110 Merritt Drive, a featured Malibu home sold by Nicki & Karen Southern California Luxury Real Estate

Malibu

Malibu has always been among the strongest housing markets in the Conejo Valley. The ideal location of Malibu beside the Pacific Ocean means that the housing market is highly attractive.

When taking the market inventory of 384 homes into account, the median listing price for a Malibu home in March was $2.5 million, which is the exact same as it was at the end of 2018. The sale price for homes in this community has rested at just under $2.7 million for each of the three months of 2019, which is great for sellers. If you’re considering purchasing a home in Malibu, the consistency of the market means that the home you purchase should increase gradually in value while you own it. The median listing price per square foot for a home in Malibu is at $1,000.

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1752 Upper Ranch Road Lang Ranch
1752 Upper Ranch Road, a North Ranch home sold by Nicki & Karen Southern California Luxury Real Estate

North Ranch Club Estates

While North Ranch properties have a median listing price of just under $1 million, the estates section of the community consists of properties with a much higher value.

The median listing price for a home in this area of North Ranch is around $3 million, which is a number that has remained consistent throughout the first quarter of 2019. There are currently more than a dozen homes in the North Ranch Club Estates community on the market, the most expensive of which comes in at a price of just under $60 million. The median listing price per square foot is around $900.

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Rancho Dos Hermanas Somis
Rancho dos Hermanas, a featured property sold by Nicki & Karen Southern California Luxury Real Estate

Somis

Somis is another rural community in the Conejo Valley that’s comprised mainly of larger ranch-style properties, of which there are currently 18 on the market. These homes have a median listing price of around $1.24 million, which is up from $1.16 million at the end of 2018. Since these homes are typically situated on large lots, Somis is considered to be a relatively affordable place to live.

The median listing price per square foot reflects this affordability with a price of $405, which has risen by $7 over the last three months. The median sale price for a home in Somis is typically around $50,000 lower than the list price, which is only a small reduction.

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148 Queens Garden, Thousand Oaks, CA
148 Queens Garden in Thousand Oaks represented by Nicki & Karen Southern California Luxury Real Estate

Thousand Oaks

Thousand Oaks is the largest city in the Conejo Valley, which is why you should rarely ever have difficulties finding a home in the area. There are currently 692 homes for sale in Thousand Oaks, which have a median listing price of $800,000. This listing price has risen by around $5,000 since the end of 2018, which marks a healthy quarter for the Thousand Oaks housing market.

The median sale price is closer to $750,000, which has remained relatively unchanged since the conclusion of 2018. The listing price per square foot is at $390.

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3802 Charthouse
3802 Charthouse in Westlake Village, represented by Nicki & Karen Southern California Luxury Real Estate

Westlake Village

Much like the rest of the communities in the Conejo Valley, the Westlake Village community displayed a strong housing market in the first quarter of 2019. The median listing price for March of this year is $975,000, which is a small increase of $6,000 since the end of 2018. While this price dipped in January to $942,000, it immediately increased in February with further growth in March.

The median listing price per square foot for the 344 homes currently on sale in Thousand Oaks is $421, which is an increase of $4 since the end of 2018. As for the median sale price, it has been around $50,000 lower than the median listing price in January, February, and March.

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Interested in learning more about the Conejo Valley housing market?

The local housing market is constantly changing and it is important to stay up to date with the latest home pricing trends and market behavior to ensure that you find the home of your dreams at the best price. Our team of local Conejo Valley real estate professionals are here to assist you with your home buying or selling journey.

Please feel free to get in touch with our team and we’ll be more than happy to assist you with your search!

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