Is Westlake Village, CA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Westlake Village is a seller's market

Buyer's
Market

Difference Since February 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

$1,377,500

$611/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

-$47,550(-3.3%)

Key Takeaway

Homes in Westlake Village have sold for 3.3% less than they did a year ago.

Summary: The median home sold price in Westlake Village was $1,377,500 in February 2024, down 3.3% from last year, and the median price per square foot was $611.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $450K$400K
-11.1%
2 $760.6K$700K
-8.0%
3 $1.1M$1.1M
-1.8%
4 $1.6M$1.6M
-1.9%
5+ $2.6M$2.7M
+3.3%

Summary: Westlake Village housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 11.1%, 2 bedroom homes decreased by 8%, 3 bedroom homes decreased by 1.8%, 4 bedroom homes decreased by 1.9%, and 5+ bedroom homes increased by 3.3%.

Median Sold Price Compared To Nearby Cities

Agoura Hills
+5.5%
Thousand Oaks
+4.0%
Agoura Hills-Malibu
+3.3%
Westlake Village
+0.8%
Westlake Village
-3.3%

Housing Supply in Westlake Village, CA

How many homes are available in Westlake Village, CA?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
10997-11.0%

Summary: The Westlake Village real estate market had 97 homes for sale in February 2024, a 11.0% decrease compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 1312
-7.7%
3 3325
-24.2%
4 3333
0.0%
5+ 3027
-10.0%

Summary: The Westlake Village housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 7.7%, 3 bedroom homes decreased by 24.2%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 10%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
3717-54.1%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

7 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Westlake Village, you could pay more than the asking price. 41.2% of homes here sold above asking price last month.

Summary: A total of 17 homes were sold or pending in Westlake Village in February 2024, down by 54.1% month-over-month. Of the 17 sold homes, 35% were sold under asking, 24% were sold at asking, and 41% 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

Feb 2023Feb 2024CHANGE
55 Days78 Days+41.7%

Summary: Homes in Westlake Village had an average of 78 days on market in Feb 2024, up by 41.7% compared to last year.

Breakdown of Home Sale Times

10 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Westlake Village are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 17 homes were sold in Westlake Village; 59% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 24% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 18 Days Ago

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