Despite high mortgage rates, the Conejo Valley real estate market remains strong. The median sales price in June in Thousand Oaks was $1.41ml. an increase of 22% compared to June of last year. If that 22% increase sounds like a lot, it is… but there were only 33 sales in June, so the number may be exaggerated by a sample size. The median days on market was 33 days, still a Sellers’ market. The number of active listings in the Conejo has increased to 283, a reasonable increase given the summer months are considered prime time for Buyers and Sellers. I found 80 (28%) of the 283 were listed for less than $1ml., and only 41 (14%) listed for less than $750,000. By coincidence, I found 14% were listed for more than $3ml., which puts the average for the Conejo Valley around $1,8ml. The most expensive listing locally is a 60-acre ranch in Hidden Valley with a 6,720 SF home, asking price, $18,900,000.

Question of the month, from Monte in Agoura: “Why have local home sale prices risen so much faster than the National average?” Easy, local demand continues to out-stretch local supply, more people want to buy here than want (need) to sell.

But why here?