Is Westlake Village, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Westlake Village has remained a Seller's Market.
Key Takeaway
Westlake Village is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Westlake Village, CA
How much do homes in Westlake Village, CA cost?
Median Sold Price
$1,401,666
$610/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Westlake Village have sold for 7.3% more than they did a year ago.
Summary: The median home sold price in Westlake Village was $1,401,666 in April 2024, up 7.3% from last year, and the median price per square foot was $610.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $415K | $409.7K | -1.3% |
| 2 Bedrooms | $750K | $700K | -6.7% |
| 3 Bedrooms | $1.1M | $1.1M | +4.9% |
| 4 Bedrooms | $1.6M | $1.6M | +2.2% |
| 5+ Bedrooms | $2.6M | $2.8M | +8.4% |
Summary: Westlake Village housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.3%, 2 bedroom homes decreased by 6.7%, 3 bedroom homes increased by 4.9%, 4 bedroom homes increased by 2.2%, and 5+ bedroom homes increased by 8.4%.
Median Sold Price Compared To Nearby Cities
| Westlake Village | $1.3M | $1.5M | +8.9% |
| Agoura Hills | $1.1M | $1.1M | +7.7% |
| Thousand Oaks | $999.9K | $1.0M | +7.5% |
| Westlake Village | $1.3M | $1.4M | +7.3% |
| Agoura Hills-Malibu | $1.4M | $1.5M | +3.5% |
Housing Supply in Westlake Village, CA
How many homes are available in Westlake Village, CA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 114 | 128 | +12.3% |
Summary: The Westlake Village real estate market had 128 homes for sale in April 2024, a 12.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 3 | +200.0% |
| 2 Bedrooms | 17 | 19 | +11.8% |
| 3 Bedrooms | 28 | 22 | -21.4% |
| 4 Bedrooms | 38 | 49 | +28.9% |
| 5+ Bedrooms | 30 | 35 | +16.7% |
Summary: The Westlake Village housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 200%, 2 bedroom homes increased by 11.8%, 3 bedroom homes decreased by 21.4%, 4 bedroom homes increased by 28.9%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 32 | 26 | -18.8% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Westlake Village, you may be able to get a good deal. 42.3% of homes here sold below asking price last month.
Summary: A total of 26 homes were sold or pending in Westlake Village in April 2024, down by 18.8% month-over-month. Of the 26 sold homes, 42% were sold under asking, 27% were sold at asking, and 31% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 28 Days | 31 Days | +8.8% |
Summary: Homes in Westlake Village had an average of 31 days on market in Apr 2024, up by 8.8% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Westlake Village are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 26 homes were sold in Westlake Village; 73% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.