Westlake Village, CA Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Westlake Village, CA Housing Market Trends

With a population of 8,217, 3,285 total housing units (homes and apartments), and a median house value of $1,073,503, Westlake Village house prices are not only among the most expensive in California, Westlake Village real estate also is some of the most expensive in all of America.

Westlake Village is a city of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Westlake Village than is found in 98% of the communities in America.

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Westlake Village. Owner-occupied housing accounts for 83.18% of Westlake Village's homes, and 65.52% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Westlake Village built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Westlake Village built between 1940-1969 ( 36.35%). A lesser amount of the housing stock also hails from between 2000 and later ( 3.45%).

Westlake Village Home Appreciation Rates

Appreciation rates for homes in Westlake Village have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 59.36%, which ranks in the top 30% nationwide. This equates to an annual average Westlake Village house appreciation rate of 4.77%.

Over the last year, Westlake Village appreciation rates have trailed the rest of the nation. In the last twelve months, Westlake Village's appreciation rate has been 7.11%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Westlake Village were at 3.13%, which equates to an annual appreciation rate of 13.10%.

Relative to California, our data show that Westlake Village's latest annual appreciation rate is lower than 70% of the other cities and towns in California.

Average Home Values

 

Median Home Value:
$1,073,503

Westlake Village, CA HOME PRICES

> $1,160,000
41.5%
41.5%
$870,001 - $1,160,000
23.8%
23.8%
$580,001 - $870,000
19.1%
19.1%
$464,001 - $580,000
5.9%
5.9%
$348,001 - $464,000
4.7%
4.7%
$232,001 - $348,000
3.2%
3.2%
$116,001 - $232,000
0.3%
0.3%
$58,001 - $116,000
0.7%
0.7%
$0 - $58,000
0.7%
0.7%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Very High for CA

Value Relative To Nation

Number Of Homes And Apartments:
3,285

Westlake Village Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CA*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
125.42% 3.85%
4
9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$4,366 / per month

Homeownership Rate

Owners
83.2%
83.2%
Renters
16.8%
16.8%
Vacant
4.0%
4.0%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
3.4%
3.4%
1970 - 1999
60.1%
60.1%
1940 - 1969
36.4%
36.4%
1939 or Older
0.1%
0.1%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
67.9%
67.9%
Townhomes
19.3%
19.3%
Small Apt. Buildings
2.4%
2.4%
Apt. Complexes
5.4%
5.4%
Mobile Homes
5.1%
5.1%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.3%
1.3%
1 Bedroom
2.1%
2.1%
2 Bedrooms
17.4%
17.4%
3 Bedrooms
28.2%
28.2%
4 Bedrooms
37.3%
37.3%
5 or more bedrooms
13.7%
13.7%
0.0% 100.0%
% OF HOMES