How’s the Real Estate Market in Westlake Village CA

By
Real Estate Agent with Compass DRE 00997649

How's the real estate market in Westlake Village? 

That's the question that I am asked many times during the week.  It always depends on if one is looking to buy, sell, invest or flip.  Also, life changes such as retirement, job loss, divorce or death can affect those who need to either buy or sell.

I guess there is always going to be a question but how do we as agents answer that when asked?  I always try to have a good idea of current market conditions and know the inventory at all times. Having been active in the local market for 27+ years I have a good working knowledge of market activity in most neighborhoods.  I pre-view homes that go on the market and am able to talk to both buyers and sellers about various homes and neighborhoods and how they compare to the one they might want to sell or to buy. 

Land for new construction in Westlake Village is scarce so many who want a new or newer home are doing major remodeling or actually tearing down older homes and rebuilding.  We have seen this trend becoming more common in the last few years.  Neighborhoods in Westlake Village seeing this trend are typically older homes but highly desirable neighborhoods.  Communities such as North Ranch, Westlake Island, The Trails, Foxmoor and First Neighborhood have all seen many homes go through major renovations in the past few years.  

Westlake Village is known to be one of the most sought after cities in Ventura County.  What is often confusing to home buyers who are not familiar with the area is that Westlake Village and Thousand Oaks CA are often names that are interchangeable.  The area is divided between both Los Angeles County and Ventura County and zip codes 91361 and 91362 just to make it even more confusing.  

When asked about current market conditions in the area I find that using a 30 day trend is the most relevant.  Due to the year around moderate weather that we have we don't really have one season better than another for buying or selling a home.  Of course, there are segments of the market at any given time where homes sell better than others but all in all if a home is priced well, in good condition and location there is a constant demand.

 

Currently there are 131 Active single family homes on the market in the Westlake Village/Thousand Oaks area priced from $450,000 to $44M.  In the last 30 days there were 21 single family homes SOLD priced from $665,000 to $5.275M and the median price range being $850,000.  The average price of a home in this market is currently $1,167,819.  

Properties under contract and pending total 28 in the last 30 days priced from $719,000 to $5.995M.

The last 30 days of properties under contract in Westlake Village/Thousand Oaks 91361, 91362 real estate market.  The market here continues to be strong and homes that are priced well continue to sell with the average days on market for these homes listed being 76-90 days. 

Buying or Selling a home is a big decision. The financial and emotional stakes are high, but the rewards can make it all worth it. It’s important to find the right agent before you start your search for a home. 

Find or Sell Your Westlake Village or Thousand Oaks Home

 

 

 

 

Posted by

Teri Pacitto Group, Cal BRE #00997649

Broker Associate, REALTOR® | SFR®, CLHMS, CDPE, CHS®

RE/MAX Olson & Associates, Inc. 

30699 Russell Ranch Road, Suite #100, Westlake Village, CA 91362 | ( Office: 805.494.4663| ( Mobile: 805.444.7013 www.TeriPacittoGroup.com 

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Comments (4)

John Pusa
Glendale, CA

Teri - Thanks for the very valuable reale state information in Westlake Village, California.

Oct 30, 2015 09:22 AM
Mark Don McInnes, Sandpoint-Idaho
Sandpoint Realty LLC - Sandpoint, ID
North Idaho Real Estate - 208-255.6227

Hello Teri.  When asked the question I usually return not with an answer but a question with much of the same info you have in your first paragraph to see exactly what they are really asking.  Make it a safe weekend Teri and enjoy.  Mark

Oct 30, 2015 09:32 AM
Teri Pacitto
Compass - Westlake Village, CA
Real Estate, Your Style...Your Home...My Specialty

John Pusa Thank you for stopping by...How's the Glendale CA real estate market?

 

Mark Don McInnes, Sandpoint  Definitely need to dig down to find out what they are really asking.  Enjoy your weekend as well. 

Oct 31, 2015 02:10 AM
John Pusa
Glendale, CA

Teri, Glendale real estate market doing well, needs more listing.

Oct 31, 2015 04:48 AM