THOUSAND OAKS : Median Price of Housing Falls 17%

The Conejo Valley Assn. of Realtors has released figures indicating that the median price of a single-family residence in the Thousand Oaks area plummeted 17% from February, 1992, to February, 1993.

Yet despite the lower prices, fewer families bought homes in the Conejo Valley this February than in February, 1992. Also, fewer residences went on the block--the association listed 431 available dwellings this year, contrasted with 574 last year.

“Jobs are leaving California, and if you don’t have a job, you don’t have a house,” real estate broker Emily Irelan said. “And if you don’t have demand, prices go down. Also, people are scared. They’re afraid prices will continue to drop.”

Prices fell most precipitously for bigger residences. The average price on a dwelling with four or more bedrooms dropped 20% this February contrasted with a year ago, from $333,333 to $265,277.