Who Has the Upper Hand in the Conejo Valley Housing Market Right Now: Buyers or Sellers?

If you’ve been following the housing market lately, you’ve probably heard conflicting opinions. Some people say buyers finally have the advantage. Others say there still aren’t enough homes available and sellers remain in control.

Here in the Conejo Valley, the answer isn’t quite that simple.

As we move through the second half of 2026, the market across Thousand Oaks, Westlake Village, Agoura Hills, Oak Park and Newbury Park has become much more balanced, and who has the upper hand often depends on the individual property.

The Conejo Valley Market Has Become More Selective

Over the past several years, sellers became accustomed to an extremely competitive housing market. Homes could receive multiple offers almost immediately, buyers routinely offered above asking price, and sellers often had significant leverage during negotiations.

That environment has changed. Buyers today are generally more cautious. Mortgage rates have affected affordability, homes are taking longer to sell in many parts of the Conejo Valley, and buyers are paying much closer attention to price, condition and location.

That doesn't mean demand has disappeared. It means buyers are becoming more selective about which homes they're willing to compete for.

A desirable home in Oak Park, Westlake Village, Thousand Oaks, Agoura Hills or Newbury Park that is priced correctly can still attract strong interest and, in some cases, multiple offers.

But a home that comes onto the market priced above what buyers believe it's worth can have a very different experience.

Buyers Have More Negotiating Power Than They Did a Few Years Ago

One of the biggest changes in today's market is that buyers can actually negotiate again.

Depending on the property, buyers may have opportunities to negotiate on:

• Purchase price

• Closing costs or seller credits

• Repairs

• Inspection items

• Contingencies

• Closing timelines

• 
  

That doesn't mean every seller is going to accept a below-asking offer.

In fact, some of the best homes in the Conejo Valley are still extremely competitive. But when a property has been sitting on the market for several weeks without an offer, the negotiating dynamic can change quickly.

That's where buyers who understand the local market may find opportunities.

Sellers Still Have an Advantage on the Right Homes

Sellers shouldn't interpret a more balanced market as a bad market.

Homes are still selling throughout the Conejo Valley, and property values in many areas have remained remarkably resilient.

The difference is that pricing matters more now.

Buyers have access to more information than ever. They can easily compare nearby listings, recent sales, price reductions and how long a property has been sitting on the market. If a home is priced appropriately from the beginning, buyers notice.

If it's significantly overpriced, they notice that too. That's why the first few weeks on the market have become increasingly important. A home that shows well, is marketed properly and enters the market at a price supported by recent comparable sales can still put the seller in a very strong negotiating position.

The Numbers Tell an Interesting Story

Recent Conejo Valley market data reinforces how balanced the market has become. At the end of June, the median home price across Westlake Village, Agoura Hills, Oak Park, Thousand Oaks and Newbury Park was approximately $1.2 million, with prices roughly 2.5% higher than the previous year.

Homes were taking about 33 days to sell, compared with 29 days a year earlier.

At the same time, more listings have been failing to sell. Expired listings increased significantly compared with the previous year.

That combination is important. Home values haven't suddenly collapsed, but buyers also aren't automatically accepting whatever price a seller puts on a property. Instead, there's a growing separation between homes the market believes are priced correctly and homes that aren't.

Every Conejo Valley Neighborhood Is Different

One of the biggest mistakes buyers and sellers can make is looking at national housing headlines and assuming they perfectly describe what's happening here.

Even saying "the Conejo Valley market" can sometimes be too broad.

A single-family home in Westlake Village may behave very differently from a condo in Thousand Oaks.

A remodeled home in Oak Park with a great location and view may attract considerably more competition than another home just a few streets away.

The same differences can exist between neighborhoods in Agoura Hills and Newbury Park.

Price range matters too. The buyer pool for an $800,000 condo isn't the same as the buyer pool for a $2 million home. That's why real estate is becoming increasingly property-specific.

So, Who Has the Upper Hand?

Right now, neither buyers nor sellers have complete control of the Conejo Valley housing market. Instead, leverage depends on the property.

Sellers tend to have the advantage when:

The home is desirable, priced correctly, shows well and generates strong interest shortly after hitting the market.

Buyers tend to have the advantage when:

A home has been sitting on the market, has gone through a price reduction, needs updating or isn't receiving much buyer activity.

And that's actually a healthier housing market.

Buyers have more room to negotiate, while sellers who price and market their homes correctly can still achieve excellent results.

What This Means if You're Buying in the Conejo Valley

Don't assume you need to automatically offer over asking price. Look at the history of the individual property.

How long has it been listed? Has the price been reduced? Are there other offers? How does it compare with recent nearby sales?

Those factors can tell you much more about your negotiating position than a national headline ever will. At the same time, don't assume every seller is desperate to negotiate. If the right home comes onto the market at the right price, competition can still happen quickly.

What This Means if You're Selling

The strategy that worked a few years ago - listing high and waiting for buyers to catch up, is much riskier today.

Today's buyers are educated and price-sensitive. The goal isn't simply to put your home on the market. It's to position it so buyers recognize its value when it first becomes available.

Pricing, presentation, photography, marketing and understanding the competition are all increasingly important. The strongest negotiating position for a seller is usually created before the first offer ever arrives.

The Bottom Line

The 2026 Conejo Valley housing market isn't simply a buyer's market or a seller's market.

It's a strategy-driven market.

Well-priced homes in desirable locations can still put sellers firmly in control. Homes that sit on the market can give buyers opportunities they haven't had in years. That's why understanding what's happening at the neighborhood, and even property level matters more than following national housing headlines.

If you're considering buying or selling a home in Thousand Oaks, Westlake Village, Agoura Hills, Oak Park, Newbury Park or the surrounding Conejo Valley, I can help you look at the latest local sales and determine exactly where you stand in today's market.

Debra Levine Realty | Local Conejo Valley Real Estate Experts

Market statistics can change quickly and vary by property type, neighborhood and price range. Contact us for the most current information specific to your home or search.