s it a buyer's market in Thousand Oaks right now? The Conejo Valley is shifting toward buyers this fall. Mortgage rates have climbed above 7%, inventory is higher than it has been in years, and more sellers are reducing prices. Home values have held steady, but buyers now have more choice and more negotiating power than at any time since 2022.
What are mortgage rates right now?
The average 30-year fixed mortgage rate was 7.40% for the week of October 15, 2026, according to Freddie Mac. A year ago it was about 6.3%. Rates rose steadily through September and October to their highest level since 2023, which has cooled buyer activity and given remaining buyers more leverage.
Are home prices dropping in Thousand Oaks?
Not meaningfully. The typical Thousand Oaks home value was about $1.05 million in mid-2026, up roughly 0.5% from a year earlier, per Zillow. Prices are flat rather than falling. What has changed is how homes sell: more listings need a price adjustment, and well-priced homes still move while overpriced ones sit.
Is inventory increasing in Ventura County?
Yes. Ventura County single-family inventory has been rising through 2026, and roughly 36% of listings showed a price decrease this summer. Nationally, new listings reached a four-year high in September. In the greater Los Angeles metro, sellers outnumbered active buyers by about 62% in August, a clear sign the balance has tipped toward buyers.
What does a buyer's market mean for home buyers?
A buyer's market means more homes to choose from and less competition. In today's Conejo Valley market, buyers can often:
- Negotiate on price instead of bidding over asking
- Ask for seller credits toward closing costs or a rate buydown
- Keep inspection and appraisal contingencies in their offer
- Take more time to compare neighborhoods like Lang Ranch, North Ranch, Dos Vientos and Oak Park
If rates ease in 2027, competition could return quickly. Buyers who purchase now can negotiate a better price today and may be able to refinance later.
What does a buyer's market mean for home sellers?
Sellers can still sell successfully, but strategy matters more than it has in years. Pricing correctly from day one, preparing the home carefully and marketing it professionally are what separate homes that sell from homes that sit. Luxury and move-up homes in Westlake Village, Agoura Hills and Malibu especially benefit from expert pricing and exposure to qualified buyers.
Should I wait to buy or sell until 2027?
It depends on your goals. Trying to time rates is difficult. A local market analysis of your specific neighborhood, price point and timeline is the best way to decide.
Conejo Valley Market FAQ
Is Thousand Oaks a buyer's or seller's market in fall 2026? It is shifting toward a buyer's market, with more inventory, more price reductions and higher mortgage rates than a year ago.
What is the average home price in Thousand Oaks? The typical home value was about $1.05 million in mid-2026, according to Zillow; prices vary widely by neighborhood.
Will home prices fall in the Conejo Valley? Prices have been flat in 2026. Limited land, strong schools and high demand have historically supported values here.
Can I negotiate seller credits in this market? Yes. Seller credits for closing costs or a mortgage rate buydown are more common in today's market.
Sources: Freddie Mac 30-year rate via FRED · Zillow Thousand Oaks home values · Ventura County market data, SoCal Title / Altos · The Norris Group, August 2026 · The Norris Group, September 2026
Want to know what this market means for your home or your next purchase? I'm Karen Sandvig, Coldwell Banker Realty Luxury Property Specialist and LA Business Journal Top 100 Real Estate Agent (2025, 2026). I'll prepare a free, neighborhood-specific market report for Thousand Oaks, Westlake Village, Newbury Park, Agoura Hills, Oak Park or Malibu. DRE#01507450
