Conejo Valley Real Estate Market Trends and Forecast 2019 - 2020

September 02,2019 | Posted By Park Regency in Conejo Valley
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Conejo Valley Housing Market Overview

Conejo Valley is one of the most appealing destinations in Southern California. The Real Estate market of Conejo Valley is full of prospective buyers with a variety of different properties to select from. Most properties in Conejo Valley are single-family residences including condominiums, homes, ranches, and estates, etc. However, regardless of the area you prefer, Conejo Valley Real estate market is a broad and famous market for both buyers and sellers equally.

Since the last five years, Conejo Valley Housing Market has been thriving up an about and has achieved fantastic results in a short time. The communities living in Conejo Valley describe it as a balanced market, meaning that both the seller and the buyer benefit from the success of the market in the area.

 

Real Estate Market in Conejo Valley

In Conejo Valley, inventory levels are excellent for buyers who are looking to buy the perfect home. There are a lot of areas in Conejo Valley that are famous for their properties. One of them is Westlake Village; which alone has over 300+ homes on sale which increases the chances of your investment in the place. While the relatively high inventory of available homes in the Conejo Valley is excellent for buyers, the sale price with respect to the listing price is great for sellers. Another area of Conejo Valley is of Calabasas, which is one of the most popular destinations of the valley considering its housing market. The median listing price of homes in Calabasas averages to around $1.2 million according to recent research in 2018. Talking about the largest areas in Conejo Valley, Camarillo has a median listing price of about $620,000 from 2018 March to just under $600,000 at the end of 2018. The growth over the last three months in the Camarillo housing market has brought excellent results in terms of its real estate market for the first quarter.

The Conejo Valley Includes: Burbank, Calabasas, Conejo, Glendale, Canoga Park, Chatsworth, Encino, Granada Hills, Knollwood, Mission Hills, North Hollywood, Northridge, Pacoima, Panorama City, Porter Ranch, Reseda, Sherman Oaks, Studio City, Sun Valley, Sylmar, Tarzana, Valley Village, Van Nuys, Warner Center, West Hills Winnetka, Woodland Hills and many more!

 

Conejo Valley Past Year Review on Real Estate

When you are looking for predictions about the next year's progress in the real estate market trends of Conejo Valley, it is essential to review the past year's statistics. The first three quarters of 2018 were much similar to that of 2017, signaling the consistency of good market trends in the area. The shortage of ongoing homes is usually because of the quick sale. However, the sellers in 2018 were not able to demand an outpaced supply, but the win was that there were far fewer bidding wars, and the same has been predicted for the year 2019. After the third quarter, Conejo Valley Real Estate Market started showing trends of slowing. But this year, there are no signs of slowing down. Everything is in place, and the interest rates are climbing, which is increasing the caution of the buyers. Because of this reason, sellers who needed to sell had to make concessions. But this factor has not disturbed this year's real estate market trends, and the forecast predicts the market to finish strong this year.

The median price of a Conejo Valley home (Westlake Village, Agoura Hills, Oak Park, Thousand Oaks, and Newbury Park) ended the year at $750,000 up 3% from $725,000 in 2017. That's almost 20 consecutive months of increase in prices! Interest rates ended the year on an upward trend in 2018 finishing the year at about 4.5%, which makes this year's finishing end predictably at around the same percentage.

 

Home Buyers Forecast for Real Estate in Conejo Valley for 2019-20

When you are looking to invest, you have to review the facts and figures of the real estate market trends in the place and think more long term about your needs. Houses are always an excellent investment and can stay long in the market without losing its value. The higher-priced homes that cost over a million dollars are more negotiable than, the less ranging homes. In the year 2019-20, the prices are expected to stay almost the same with a slight chance in more negotiation deals. Conejo Valley, real estate market, has one of the best properties in Southern California, so the chances of real estate going down are less, particularly concerning the year 2019-20.

 

What to Expect by Home Sellers in 2019-20

Home sellers have to be very patient in dealing and bargaining matters. This is a trait of a good seller. The Conejo Valley has been averaging about 45-60 days on the market to sell a home. That's historically very low and unlikely to continue in 2019. About 3 to 6 months more, the balanced market will maintain its standing and will shift to a quick selling trend in 2019-20, which is likely to last for several years afterward. The importance of the value of your home and its pricing will become more and more crucial with passing years. This is because there will emerge new competitions from other sellers providing the buyers to choose from more and more options. Pricing too high and missing the market can cost you a lot since the correlation between time on the market and sales price is predicted to be magnified in the year 2019. You can say that the more time on the market, the lower the sales price.

You can still sell your home at this time as the demand for property in Conejo Valley is very high because of the excellent schooling. The Conejo Valley Real Estate Market is expected to increase in value by a total of 3.1% in the year 2019.

 

Bottom Line

The California Association of Realtors (C.A.R.) released its housing forecast for the year 2019 in which the Median home prices are expected to increase 3.1% in 2019 after about a 7.0% increase in 2018 and the interest rates are expected to rise to 5.2%. Last year, C.A.R. forecast an increase in median prices of 4.3% versus 7.0% (projected) in 2018, and interest rates were expected to climb to 4.5% but are currently closer to 4.75%.

The Best Communities In Conejo Valley For Real Estate Investment

 

Is it the right time to invest in Conejo Valley Real Estate

With the following information in mind and given Conejo Valley’s emerging popularity in the Greater Los Angeles area, the years 2019 - 2020 could be the right time to invest in this beautiful Southern California property while the price is right. If you have any questions or queries about purchasing or selling property, please don’t hesitate to contact your local real estate experts, Park Regency Realty. Our real estate experts have established ties throughout Conejo Valley and will work closely with you according to your goals and specifications. If you have any more questions concerning Conejo Valley’s real estate market forecast, contact us today or call us now at 818-363-6116!