Residential real estate in Westlake Village and Thousand Oaks continues to defy broader regional trends. While many Southern California markets are wrestling with affordability pressures and uneven buyer demand, zip codes 91361 and 91362 are experiencing a unique combination of rising home prices, tightening inventory, and accelerated buyer activity. This dynamic is reshaping expectations for both buyers and sellers as we move through 2026.
Home Prices Continue Climbing
The median home price in Westlake Village has continued its upward trend over the past year, rising more than 3% year over year and settling around $1.5 million. In many markets, rising prices are tied to bidding wars or speculative buying. But in 91361 and 91362, the story is more structural:
- Demand remains consistently strong among move up buyers, relocating professionals, and downsizing luxury homeowners.
- The area’s lifestyle amenities — lakefront neighborhoods, top tier schools, hiking access, and proximity to both LA and the coast — continue to attract high-income buyers.
- Limited new construction keeps supply tight, especially in established communities like North Ranch, First Neighborhood, and the Lakes.
Even as mortgage rates fluctuate, buyers with strong financial profiles are keeping upward pressure on prices.
Please contact me at tom.neary@cbrealty.com to discuss your real estate goals, including an opinion of value for your home.
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