Thousand Oaks Real Estate Market: October 2024 Update

Thousand Oaks continues to be a desirable location for homebuyers in Southern California, offering a mix of natural beauty, excellent schools, and community charm. As we look at the current market, here's what prospective buyers and sellers need to know.

1. Home Prices Are Holding Steady

The median home price in Thousand Oaks is hovering around $1.09 million, reflecting a 6.5% increase compared to last year. Despite rising mortgage rates, demand for homes in this area remains strong due to its quality of life and desirable location. Whether you're looking for a spacious family home or a modern townhouse, Thousand Oaks offers a wide range of options that continue to attract buyers​

​2. Inventory Remains Low but Stable

One of the challenges for buyers in Thousand Oaks is the relatively low inventory. The number of homes available for sale has increased slightly, but it remains lower than the pre-pandemic levels. This tight market is expected to keep home prices competitive, although more homes have been hitting the market recently, providing a bit more choice for buyers​

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3. High Demand for Off-Market Properties

Savvy buyers are increasingly turning to off-market listings, which offer opportunities to purchase homes before they officially hit the market. This trend is especially relevant in Thousand Oaks, where well-connected agents often have access to these hidden gems. Working with a local real estate expert who can uncover these opportunities is key to getting ahead in this competitive market​

4. Excellent Schools Continue to Attract Families

For families, one of the top draws to Thousand Oaks remains its excellent public schools, with many schools rated 9/10 by GreatSchools. This makes the area particularly attractive for those looking to settle down, further fueling the demand for homes in family-friendly neighborhoods​

5. Buyer Opportunities in a Shifting Market

As we move further into fall, there are signs that the market may slowly shift towards a more balanced environment. This offers opportunities for buyers who have been waiting for more favorable conditions. Homes are spending a bit more time on the market compared to earlier this year, and sellers are becoming more flexible with pricing​

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Considering buying or selling in Thousand Oaks? Now is a great time to explore your options in this thriving real estate market. With its combination of stability, community appeal, and growth potential, Thousand Oaks remains one of Southern California's most attractive places to live.