Conejo Valley House Prices Set Record in October

The average resale price of a single-family house in the Conejo Valley surpassed $300,000 for the first time, jumping 6% in October to a record $303,900 from $288,154 the previous month, the Conejo Valley Board of Realtors reported.

The price gain came despite an 11% sales decline in October compared with the previous month, to 262 sales from 295 in September, said the board, whose report covers sales in Agoura Hills, Westlake Village, Thousand Oaks and Newbury Park.

Sales are typically slow in the fall as families are reluctant to move because of the new school year and holidays, the board said. However, the October sales were up 14% from the 230 houses sold in October, 1987.

The latest jump in prices lifted the average resale price above the record of $295,934, set in August, the board said. A year earlier, the average resale price was 27% lower at $238,995.

Condominium resale prices also hit a record high in October, with the average price reaching $158,628, up 6% from $149,903 in September and up 24% from the $127,736 average price in October, 1987, the board said.