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
$1,492,333
$641/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 $1,492,333 in May 2024, up 7% from last year, and the median price per square foot was $641.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $415K | $409.7K | -1.3% |
2 Bedrooms | $745K | $702.5K | -5.7% |
3 Bedrooms | $1.2M | $1.3M | +10.1% |
4 Bedrooms | $1.6M | $1.7M | +3.9% |
5+ Bedrooms | $2.6M | $2.2M | -14.7% |
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 5.7%, 3 bedroom homes increased by 10.1%, 4 bedroom homes increased by 3.9%, and 5+ bedroom homes decreased by 14.7%.
Median Sold Price Compared To Nearby Cities
Newbury Park | $914.2K | $1.0M | +9.6% |
Thousand Oaks | $994.8K | $1.0M | +8.1% |
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 |
---|---|---|
106 | 119 | +12.3% |
Summary: The Westlake Village real estate market had 119 homes for sale in May 2024, a 12.3% 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 | 20 | 22 | +10.0% |
3 Bedrooms | 12 | 21 | +75.0% |
4 Bedrooms | 42 | 44 | +4.8% |
5+ Bedrooms | 29 | 30 | +3.4% |
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 10%, 3 bedroom homes increased by 75%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes increased by 3.4%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
20 | 26 | +30.0% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Summary: A total of 26 homes were sold or pending in Westlake Village in May 2024, up by 30.0% month-over-month. Of the 26 sold homes, 54% were sold under asking, 19% were sold at asking, and 27% 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 |
---|---|---|
36 Days | 32 Days | -9.3% |
Summary: Homes in Westlake Village had an average of 32 days on market in May 2024, down by 9.3% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 26 homes were sold in Westlake Village; 65% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.