Is Westlake Village, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Westlake Village has remained a Seller's Market.
Housing Prices in Westlake Village, CA
How much do homes in Westlake Village, CA cost?
Median Sold Price
$1,373,333
$611/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Westlake Village was $1,373,333 in May 2024, up 1.7% from last year, and the median price per square foot was $611.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $415K | $409.7K | -1.3% |
2 Bedrooms | $745K | $705K | -5.4% |
3 Bedrooms | $1.1M | $1.1M | +6.5% |
4 Bedrooms | $1.6M | $1.6M | -3.1% |
5+ Bedrooms | $2.6M | $2.8M | +5.9% |
Summary: Westlake Village housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.3%, 2 bedroom homes decreased by 5.4%, 3 bedroom homes increased by 6.5%, 4 bedroom homes decreased by 3.1%, and 5+ bedroom homes increased by 5.9%.
Median Sold Price Compared To Nearby Cities
Agoura Hills-Malibu | $1.4M | $1.5M | +9.8% |
Thousand Oaks | $994.8K | $1.0M | +8.1% |
Agoura Hills | $1.1M | $1.1M | +7.3% |
Westlake Village | $1.3M | $1.4M | +7.0% |
Westlake Village | $1.3M | $1.3M | +1.7% |
Housing Supply in Westlake Village, CA
How many homes are available in Westlake Village, CA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
124 | 141 | +13.7% |
Summary: The Westlake Village real estate market had 141 homes for sale in May 2024, a 13.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 2 | -33.3% |
2 Bedrooms | 19 | 26 | +36.8% |
3 Bedrooms | 23 | 32 | +39.1% |
4 Bedrooms | 42 | 48 | +14.3% |
5+ Bedrooms | 37 | 33 | -10.8% |
Summary: The Westlake Village housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes increased by 36.8%, 3 bedroom homes increased by 39.1%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes decreased by 10.8%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
26 | 31 | +19.2% |
Asking Price vs. Sold Price
17 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 31 homes were sold or pending in Westlake Village in May 2024, up by 19.2% month-over-month. Of the 31 sold homes, 55% were sold under asking, 19% were sold at asking, and 26% were sold over asking.
Days on Market for Westlake Village, CA
How long does it take to sell a home in Westlake Village, CA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
46 Days | 33 Days | -28.2% |
Summary: Homes in Westlake Village had an average of 33 days on market in May 2024, down by 28.2% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 31 homes were sold in Westlake Village; 61% of homes were sold within 30 days, 35% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.