Market Update | March 2025
Westlake Village, Agoura Hills, Oak Park, Thousand Oaks and Newbury Park
By: Michael Rice | March 2, 2025
My View From Inside
Is the Market Shifting?
After years of record-low inventory, we’re finally seeing a change.
More homes are hitting the market—and staying there. In February alone, 263 new listings came up for sale (+67%), and by the end of the month, 360 homes remained on the market—a 60% increase over last year.
What’s Driving This Change?
For the past few years, the market has been relatively balanced. Low inventory was offset by low buyer demand, with both sides hesitating due to mortgage rate uncertainty. But that’s starting to shift.
Buyers and sellers are adjusting to mortgage rates in the mid-to-upper 6% range as the new normal. Homeowners who have been holding off listing to keep their low rates are finally entering the market.
The big question now: Will buyers follow suit?
Spring Market: A Real Test
Spring is typically the busiest season for home sales, but this year presents new challenges—high home prices, interest rates, insurance premiums, and HOA dues. That’s a lot for buyers to digest.
Another factor? Buyers displaced by recent fires—will they drive demand? We should have a clearer picture in the next couple of months.
Bottom Line…
More sellers are listing, but the market is still waiting to see if buyers will jump in.
- If you’re thinking about selling, now is the time to strategize—before inventory continues to rise and competition increases.
- If you’re buying, keep an eye on the market—opportunities may be coming now that sellers are facing more competition.
Advice for a Successful Home Purchase or Sale This Year
Read: My Advice for Buying a Home in 2025
Read: My Advice for Selling a Home in 2025
Ready to talk? Feel free to reach out (818) 384-9929 | Michael@ConejoValleyGuy.com
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What to expect moving forward
- February saw a 67% increase in new listings compared to last year, and this trend is likely to continue, peaking around May or June.
- Mortgage rates are now expected to fluctuate between the mid to upper 6% range throughout the year, so buyers should stay informed on rate changes.
- Inventory is increasing faster than buyers are returning to the market. Time will tell if we’re shifting towards a buyer’s market.
- Homes that have been on the market for 30+ days may be more flexible on price—don’t hesitate to negotiate!
Seller’s Corner
The uptick in competition from other homes for sale is shifting the market away a bit from sellers. It’s definitely not the seller’s market of years past. It’s critically important to price your home correctly from the beginning. Buyers are eagerly waiting to pounce on the popular homes. If you miss that first window to attract a buyer, you may have a tough time getting them to come back again once you inevitably drop the price.
What's The 2025 California Forecast?
According to the California Association of REALTORS
- The median price of a home is expected to increase 4.6% in 2025.
- The number of home sales is expected to increase 10.5%.
- Interest rates are expected to average 5.9% in 2025.
Market Snapshot
Home Prices
- The median price of a Conejo Valley home was up in February to $1,255,000.
- That’s 2 consecutive months up year over year.
- Prices are up 19.5% from $1,050,000 last February.
- And up $55,500 from last month.
For Sale
- February ended with 360 homes for sale.
- Up 60.7% from last February.
- That’s 136 more homes than last year.
- And 70 more homes than last month.
Days on Market
- It took 26 days on average to sell a home in February.
- Down 5.6% from last February.
- That’s 16 fewer days than last year.
- And 1 fewer days than last month.
