What Does $1 Million Buy in Thousand Oaks vs. Westlake Village vs. Newbury Park?
Quick Answer: A $1 million budget gets you very different homes depending on the neighborhood. In Thousand Oaks, $1M lands you a solid 3–4 bedroom home in neighborhoods like Lang Ranch or Sunset Hills, with a median list price around $1.05M. In Westlake Village, $1M puts you on the lower end of the market — the average home there is now $1.95M. Newbury Park is your best value play right now, with a median list price near $999,000, meaning $1M can buy you a fully competitive home in a top school district with 41 days on market. All three cities sit within the Conejo Valley Unified School District, one of the highest-rated in California.
What Does the Conejo Valley Real Estate Market Look Like Right Now?
The Conejo Valley is moving at two speeds right now. Low inventory is keeping prices firm, but some sellers are still adjusting to a market that's cooled from its 2022 peak. Understanding which speed applies to your target neighborhood matters a lot before you make an offer.
Inventory across the valley is tight. Only 173 homes were available in Thousand Oaks in April 2026, with just 1.45 months of supply. That's firmly in seller territory. At the same time, about half of listings have seen price reductions, which means buyers have more room to negotiate than the headline numbers suggest.
The key takeaway: where you buy matters as much as what you spend. A $1 million budget delivers dramatically different results across Thousand Oaks, Westlake Village, and Newbury Park. Here's the breakdown.
Data sourced from Houzeo market reports, Redfin, and Movoto, June 2026.
$1M is right at market. You're getting a real home in a real neighborhood — Lang Ranch, Sunset Hills, or Newbury Park area. Expect 3–4 beds, good schools, and some room to negotiate.
$1M puts you well below median. You're looking at townhomes, smaller single-family homes, or older inventory that needs updating. Great location, tighter options at this price.
$1M is right at the bullseye. You're competitive for a solid single-family home with space, access to trails, and CVUSD schools. Best value per square foot in the valley right now.
What Does $1 Million Actually Buy in Thousand Oaks?
Thousand Oaks is the widest market of the three. The median list price in Thousand Oaks in June 2026 is $1.05M, which means $1M puts you right at or slightly below the midpoint. That's actually a good place to shop.
At $1M in Thousand Oaks, you're looking at single-family homes in the 1,800–2,400 sq ft range. Neighborhoods like Lang Ranch, Sunset Hills, and Newbury Park (the unincorporated areas absorbed into Thousand Oaks) all have active inventory in this range. You can still find 3–4 bed homes with yards, two-car garages, and updated kitchens.
What you won't find at $1M in Thousand Oaks: a pool, a large lot, or anything in Conejo Oaks or North Ranch. Those neighborhoods start closer to $1.5M–$2M+. But for school access, commute convenience, and day-to-day livability, a $1M home in Thousand Oaks delivers a lot.
Homes here are spending about 34 days on market on average, and 34.62% of homes have been selling above asking price — up from just 20.5% last year. That means even at $1M, you need to be ready to compete on the right property.
Pro tip: townhomes and condos in the $700K–$900K range also exist here if you want to stretch your dollar further. The Conejo Valley Unified School District covers the whole city, so you're not sacrificing school quality by going attached.
What Does $1 Million Buy in Westlake Village?
Westlake Village is the luxury anchor of the Conejo Valley. The average home price in Westlake Village hit $1.95M in May 2026, up 6.8% year-over-year. A $1M budget puts you nearly $1M below market average here.
That doesn't mean $1M can't buy you something in Westlake Village — it can. You're looking at smaller single-family homes, attached townhomes near the Lakes area, or older homes that need updating. Condos around Westlake Village proper start in the $600K–$850K range and occasionally stretch to $1M for a premium unit.
If the Westlake lifestyle is the goal — the lake, the restaurants, North Ranch energy — and your budget is around $1M, it's worth having a conversation about what's realistically available versus stretching your search radius slightly into Oak Park or unincorporated Westlake.
The Westlake Village market is currently scoring 49 out of 100 on competitiveness, which means it's not a feeding frenzy. Listings here sit around 32 days on market, and well-priced homes move. Overpriced ones sit. That gives buyers some leverage if they're patient and informed.
What Does $1 Million Buy in Newbury Park?
Newbury Park is quietly the best value in the Conejo Valley right now for buyers with a $1M budget. The median list price in Newbury Park is right at $999,000 in 2026, which means $1M puts you directly in the competitive zone.
At $1M here, you're looking at single-family homes in the 2,000–2,600 sq ft range, with yards, garages, and in many cases mountain or open-space views. Neighborhoods like Dos Vientos Ranch, La Quinta, and Borchard Estates all have inventory at or near this price point. These are established communities with good bones and strong resale history.
The tradeoff compared to Thousand Oaks is proximity. Newbury Park sits a bit further from the 101 corridor, and the dining and shopping scene is more neighborhood-oriented than urban. But the outdoor access — trail systems, Los Padres open space, Boney Mountain — is second to none in the valley.
Homes in Newbury Park are averaging 41 days on market, which is slightly longer than Thousand Oaks. That extra time is your opportunity as a buyer to do thorough due diligence and negotiate with more confidence.
If space, value, and schools are your top priorities, Newbury Park at $1M is the strongest combination you'll find in the Conejo Valley right now.
Which Neighborhood Makes the Most Sense for Your Goals?
The honest answer is: it depends on what matters most to you. Here's a quick decision framework.
Choose Thousand Oaks if you want the widest selection, commute flexibility to the 101 or 23 freeways, and access to Conejo Valley Unified schools without paying the Westlake premium. You'll find the most options at $1M here and the most room to negotiate right now.
Choose Westlake Village if the lifestyle — lakeside restaurants, North Ranch energy, upscale feel — is non-negotiable, and you're willing to buy smaller or older to get that zip code. The market here is appreciating, so even a modest entry point could build equity quickly.
Choose Newbury Park if space and value drive your decision. Your $1M goes furthest here in terms of square footage, lot size, and neighborhood livability. The school district is the same as the rest of the valley, and the outdoor lifestyle is unmatched.
All three cities are part of the Conejo Valley Unified School District, consistently rated among the top 10 school districts in California — so you're not trading school quality for affordability in any of these neighborhoods.
By the Numbers
- Thousand Oaks median list price: $1.05M (June 2026)
- Westlake Village average home price: $1.95M (up 6.8% YoY)
- Newbury Park median list price: $999,000 (February 2026)
- Thousand Oaks days on market: ~34 days
- Westlake Village days on market: ~32 days
- Newbury Park days on market: ~41 days
- Homes sold above asking in Thousand Oaks: 34.62% (up from 20.5%)
- Active Thousand Oaks inventory: 173 homes (1.45 months supply)
The Bottom Line
A $1 million budget is a real number in the Conejo Valley — but it works harder in some neighborhoods than others. Newbury Park gives you the most home for the money. Thousand Oaks gives you the most options. Westlake Village gives you the address, though you'll be buying at the lower end of that market.
The good news is all three are in the same school district, within a few miles of each other, and all sitting in one of the most desirable corners of Southern California. The best neighborhood for you comes down to your lifestyle, your commute, and what you want your backyard to feel like.
We're local to this market and can walk you through what's available right now in any of these neighborhoods. A 15-minute call is all it takes to get clear on your options.
Schedule a 15-Minute CallFrequently Asked Questions
About Chrystal & David Schoenbrun
Chrystal & David are a Broker/Realtor® team with Pacific Home Group at Y Realty, serving Thousand Oaks, Westlake Village, Newbury Park, Agoura Hills, and the greater Conejo Valley. They've helped dozens of families buy, sell, and settle into Southern California's most sought-after communities.
📞 (805) 404-6510 | ✉️ PacificHomeGroup@gmail.com | DRE #01409474 & 01761327
📞 (805) 404-6510 | ✉️ PacificHomeGroup@gmail.com
🏡 Curious what your home is worth? Find out instantly → thepacifichomegroup.com/evaluation
Categories
Recent Posts
GET MORE INFORMATION
Chrystal And David Schoenbrun
Realtor/Broker Associate | License ID: 01409474 & 01761327