Westlake Village, CA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Westlake Village Neighborhoods Since 2000




Westlake Village, CA Real Estate Data

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 Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Westlake Village Housing Market Information

With 8,507 people, 3,403 houses or apartments, and a median cost of homes of $913,968, 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.

Single-family detached homes are the single most common housing type in Westlake Village, accounting for 68.30% of the city's housing units. Other types of housing that are prevalent in Westlake Village include row houses and other attached homes ( 20.89%), large apartment complexes or high rise apartments ( 3.97%), and a few mobile homes or trailers ( 3.69%).

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 86.22% of Westlake Village's homes, and 64.66% 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 ( 31.93%). A lesser amount of the housing stock also hails from between 2000 and later ( 2.40%).

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 2.38%, which ranks in the top 50% nationwide. This equates to an annual average Westlake Village house appreciation rate of 0.24%.

NeighborhoodScout's data show that during the latest twelve months, Westlake Village's appreciation rate, at 3.97%, has been at or slightly above the national average. In the latest quarter, Westlake Village's appreciation rate has been 1.99%, which annualizes to a rate of 8.20%.

Importantly, this makes Westlake Village one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to California, our data show that Westlake Village's latest annual appreciation rate is lower than 90% of the other cities and towns in California.

Average Home Values

 

Median Home Value:
$913,968

Westlake Village, CA HOME PRICES

Value Range
> $1,234,000 32.1
$926,001 - $1,234,000 18.5
$617,001 - $926,000 28.3
$494,001 - $617,000 4.6
$370,001 - $494,000 4.3
$247,001 - $370,000 6.3
$124,001 - $247,000 2.2
$62,001 - $124,000 2.1
$0 - $62,000 1.6

Very High for CA
Very High for Nation

Value Relative to Nation Value Relative to State
1.37114731044181 14.4179894179894

Number Of Homes And Apartments:
3,403

Westlake Village Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CA*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
93.57% 3.90% 6 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,878 / per month

Homeownership Rate

Homeownership
Owners 86.22
Renters 13.78
Vacant 4.94

Housing Market Details

 

Age of Homes

AGE OF Westlake Village HOMES
2000 or Newer 2.4
1970 - 1999 65.5
1940 - 1969 31.9
1939 or Older 0.1

Types of Homes

TYPE OF Westlake Village HOMES
Single-Family 68.3
Townhomes 20.9
Small Apt. Buildings 3.2
Apt. Complexes 4.0
Mobile Homes 3.7
Other 0.0

Home Size

SIZE OF Westlake Village HOMES
No Bedroom 0.25
1 Bedroom 4.05
2 Bedrooms 17.77
3 Bedrooms 30.06
4 Bedrooms 34.61
5 or more bedrooms 13.27