(Data Captured from MLS Featuring Single-Family Residences; Comparing Jan–Aug of 2025, to Jan-Aug of 2024)
The story in Westlake Village so far this year is one of fewer homes trading hands, but at higher prices. Buyers are active, particularly in the luxury range, but they’re also taking more time to negotiate. Sellers who align with today’s reality are still closing close to asking, while ambitious listings tend to sit longer.
TLDR
- Sales activity slowed. Westlake Village recorded 191 closings so far in 2025, down from 214 during the same period in 2024. That’s about an 11% decline in transaction volume. Total dollars sold dipped as well, from $545 million to $520 million.
- Prices moved higher. The median sold price climbed to $2.05 million (from $1.91 million last year), while the average sold price rose to $2.72 million (from $2.55 million). This means that while fewer homes sold, the ones that did were at higher price points.
- Buyers are still negotiating—but not heavily. Sellers received 97.6% of their asking price on average, nearly identical to 2024. In plain terms: when homes are priced correctly, they’re still closing close to list.
- Inventory is steady, but more upscale. Active listings rose slightly to 433 (from 410), and pending sales ticked up too (175 vs. 169). The median list price of active homes is $2.375 million, and the very top of the market expanded: listings now reach as high as $30 million, compared to $18.9 million last year.
- Homes are moving at a similar pace. The average time to sell was 47 days this year versus 48 days in 2024—showing that buyers remain engaged and homes are not lingering if they’re priced to market.
Listings today: how the supply side looks
- Active for sale: 433 homes (vs. 410 a year ago).
- Pending in escrow: 175 homes (vs. 169).
- Typical time on market for active listings: 66 days (vs. 64).
- How sellers are pricing: Median list price is $2.375 million, while the average list price is $3.77 million. The active price per square foot is $844, compared to $758 for recent closings.
What this means: Sellers are aiming higher than what buyers have recently paid, but the gap is not extreme. Buyers have more to choose from, yet homes priced realistically are still finding offers quickly.
What actually sold
- Closings: 191 this year vs. 214 last year
- Total sold volume: $520,230,254 vs. $545,485,353
- Average sold price: $2,723,719 vs. $2,548,997
- Median sold price: $2,050,000 vs. $1,912,500
- Average days to sell: 47 days vs. 48 days
- Closed price per square foot: $758.54 vs. $743.67
- Sold price range: $372,500 to $14,000,000 (vs. $500,000 to $12,400,000)
- Median list price of what sold: $1,999,999 (vs. $1,899,999)
What this all means: Prices rose modestly across the board, and the top end expanded with higher luxury closings. The number of deals shrank, but the ones that did happen skewed slightly more expensive than in 2024.
Price bands
- Under $1 million: 5 sales (vs. 5 last year)
- $1–$2 million: 82 sales (vs. 109 last year)
- $2–$3 million: 52 sales (vs. 48 last year)
- $3–$4 million: 20 sales (vs. 19 last year)
- $4–$5 million: 9 sales (vs. 12 last year)
- $5–$10 million: 14 sales (vs. 18 last year)
- $10 million and up: 4 sales (vs. 2 last year)
Takeaway: The $1–$2 million range saw fewer closings, but the $2–$4 million range grew. Luxury sales above $10 million also doubled compared to last year. The middle market softened, while the upper tiers remained robust.
How fast are homes selling?
Distribution of days on market for 2025 sales:
- 1–30 days: 79 sales (vs. 95 last year)
- 31–60 days: 44 sales (vs. 33 last year)
- 61–90 days: 21 sales (vs. 29 last year)
- 91–120 days: 11 sales (vs. 5 last year)
- 120+ days: 18 sales (vs. 23 last year)
What this means: Fewer homes are selling in the very first month (79 vs. 95), but more are closing in the 31–120 day window. This reflects a market where buyers are taking a bit more time, but still completing transactions without excessive delays.
What this means for you
If you’re buying:
You have more inventory to choose from than last year, and the pace of sales gives you room to compare options. However, when a home is priced well, it still moves quickly and sells close to asking. Pay close attention to recently sold prices per square foot, not just list prices, to know where the market is really clearing.
If you’re selling:
This is a market of precision, not guesswork. With buyers comparing closely and taking their time, pricing accurately is crucial. Homes aligned with recent sales data are closing within a month or two, often above 97% of asking price. Overshooting the market risks joining the 90+ day crowd.
Thinking of buying or selling in Westlake Village?
We help clients price precisely, market effectively, and negotiate confidently in a shifting market. Reach out to Shen Realty, with over 20 years of expertise in Westlake Village and the Westside, we can create a plan tailored to your home and your goals and offer the services of the best real estate agent in Westlake Village.