What Every Homeowner in Westlake Village (and Nearby) Needs To Know About Today’s Shifting Market

If you’re a homeowner in Westlake Village, Thousand Oaks, or anywhere in the Conejo Valley — here’s what you need to know.

The housing market is entering a healthier, more sustainable phase. While it may feel unfamiliar compared to the frenzied seller's market of the past few years, this shift is actually good news — especially if you’re thinking about selling now or in the near future.

We’ve been operating in an extreme market for a long time — bidding wars, ultra-low inventory, and rushed decisions. That’s not normal. What we’re seeing now is a much-needed rebalancing. Yes, it’s a transition. But with the right guidance and game plan, sellers can still achieve outstanding results. In fact, savvy homeowners who understand the new dynamics are positioned to win.

After years of ultra-tight inventory, we’re seeing a gradual increase in homes coming to market across Ventura County and Northwest LA County. From Westlake Island to Oak Park and Calabasas, buyers now have more choices — and that means pricing and preparation matter more than ever.

According to local MLS data, active listings in Westlake Village and Thousand Oaks are up nearly 18% year-over-year.

Buyers still want homes — but they’re being more selective. The homes that are staged, priced correctly, and marketed with intention are the ones drawing the best offers.

What This Means for You

Inventory’s Up. Buyer Power Is Coming Back. According to the latest data, the number of homes for sale is rising back toward more normal levels (see graph below):

But inventory growth is going to vary a lot based on where you live.

If you’re in a market where the number of homes for sale is back to normal, buyers may have more sway than you’d expect. That doesn’t mean buyers have all the power – it just means they have more choices, so your home has to stand out.

But if you live where inventory is still pretty limited, you may see more buyers competing for your house.

No matter where you are, the key is to work with a pro who can help you adjust your game plan for your local market.

2. The Right Price Matters More Than Ever

With more homes to choose from, today’s buyers are quick to skip over homes that feel overpriced. That’s why pricing your house right is the secret to selling quickly and for top dollar. That’s a point Realtor.com really drives home:

“ . . . a seller listing a well-priced, move-in ready home should have little problem finding a buyer."

Miss the mark, though, and you may have to backtrack. Today, about 1 in 5 sellers (19.1%) are reducing their asking price to attract buyers (see map below):

Here’s how to avoid being one of those sellers who has to reduce their asking price. Danielle Hale, Chief Economist at Realtor.com, says:

“The rising share of price reductions suggests that a lot of sellers are anchored to prices that aren't realistic in today's housing market. Today's sellers would be wise to listen to feedback they are getting from the market.”

The best way to get that information? Lean on your local agent. They have the expertise to set a price that sells in any market. Because if your price isn’t compelling, it’s not selling.

3. Flexibility Wins Negotiations

Gone are the days of buyers waiving inspections and appraisals just to get a deal done. Now, because they have more homes to choose from, buyers are able to ask for things like repairs, credits, and help with closing costs. And data from Redfin shows nearly 44.4% of sellers are willing to negotiate (see graph below):

The takeaway? This isn’t a bad market. It’s just a different one. And it’s in line with more normal years in the housing market, like back in 2019. The savviest sellers are the ones taking advantage of every opportunity to work with buyers and make their house shine.

And it’ll help if you think of concessions as tools, not losses. Use them to bridge gaps, sweeten deals, and get across the finish line. And don’t stress. Since prices went up roughly 55% over the past five years, you’ve got plenty of room to make a concession or two and still come out ahead.

Just be sure to work with your agent to understand which concessions could be the key to sealing the deal.

Bottom Line

Sellers who are going to succeed in the weeks and months ahead are the ones who understand this market shift and lean into it with the right expectations and the right strategy.

Let’s talk about what’s working in our local area right now – and how we can make those wins work for you whenever you’re ready to make a move.