Conejo Valley Home Prices Climb to Record Levels in June

Sales of single-family houses in the Conejo Valley in June fell 13% from the previous month, but the houses’ average resale price continued climbing to a record high $378,343, the Conejo Valley Board of Realtors reported Monday.

The Conejo Valley includes Westlake Village, Newbury Park, Agoura and Thousand Oaks.

In the Simi Valley-Moorpark area last month, sales of single-family houses dropped 27% but prices did not hit record levels, said the Simi Valley-Moorpark Board of Realtors.

The sales declines followed a rise in mortgage interest rates in spring, which helped dampen demand. Rates have since fallen again but apparently have yet to widely affect sales results.

In the Conejo Valley in June, sales of single-family houses fell to 179 units from 205 in May, and were down 41% from 304 in June, 1988. The average price rose 7% to the record high from $355,335 in May, and was up 33% from an average $285,443 a year earlier.

The average resale price of a condominium in the area also hit a record high, rising 14% to $201,075 from $176,265 in May, and up 41% from $142,790 in June, 1988. However, sales of condominiums dropped 12% in the month, to 69 units from 78, and were down 44% from 124 sales a year earlier.

In Simi Valley-Moorpark, single-family house sales fell to 145 units from 198 in May and were off 48% from 276 a year ago. But the houses’ average price edged up 2% from May, to $243,848 from $238,565, and was up 32% from $185,387 a year earlier.

June condominium sales in the region tumbled 36%, to 46 from 72 in May, and were down 8% from 50 in June, 1988. The average condo price was $141,286, down 17% from a record high $170,956 in May but up 28% from $110,806 a year ago.