Rents in the Conejo Valley continue to rise, with over 50% of available rentals listed for more than $5,000/month, and only 139 homes and condos available for lease—a 10% drop from last month. The solution to high rents lies in increased construction, not rent control, but with California’s high building costs, relief may be slow to come.

Mortgage rates have dropped significantly, with 30-year fixed rates now in the 5.50% to 6.50% range, ahead of the Fed’s expected rate cuts in September. If you’re considering a move, now could be the perfect time to secure a lower rate.

In July 2024, the Conejo Valley real estate market continues to thrive, with the median sales price in Thousand Oaks holding steady at $1.40M. Active listings have increased slightly to 303, but inventory remains low in this competitive Sellers’ market.

California renters are spending over 35% of their income on rent, similar to homeowners’ mortgage payments. With rental supply at historic lows and high demand, prices continue to rise, challenging the concept of ‘affordable’ housing.

Mortgage rates have recently dropped in anticipation of the Federal Reserve’s expected rate cuts, with current 30-year fixed rates ranging between 5.75% and 6.75%. As September approaches, further reductions are likely...

The Conejo Valley real estate market remains strong despite high mortgage rates, with a 22% year-over-year increase in median home prices and continued low inventory.

The Conejo Valley real estate market remains a strong sellers' market, with a 20% increase in active listings this spring, although inventory is still low. The median home price in Thousand Oaks is around $1,150,000, slightly higher in Westlake Village.

In the June 2024 Local Mortgage Update, mortgage rates continue to hover in the low 7% range as the Federal Reserve has yet to reduce the Federal Funds rate. Despite speculation, a rate cut in July appears unlikely due to the upcoming election.

The Conejo Valley rental market remains tight with available rentals near all-time lows and demand pushing rents higher.

Over the past 40 years, U.S. home prices have surged by 494%, with states like Washington, Oregon, and California seeing even more dramatic increases. This growth far outpaces the stock market's historical returns, making a compelling case for investing in residential real estate.