CONEJO VALLEY SINGLE-FAMILY HOME SALES PLUNGE.

Byline: Lisa Mascaro Daily News Staff Writer

Sales of single-family homes in the Conejo Valley took a sharp downturn in November, a decline local real estate agents say may have been caused by competition from new homes now on the market in the huge Dos Vientos development.

November sales of single-family homes in the Conejo Valley plummeted to 161, from 260 sold a year ago, according to the Conejo Valley Association of Realtors. Condominium sales gained slightly, with 85 sold in November and 83 sold in November 1997.

The homes being built at Dos Vientos, a planned community in the hills west of the Ventura Freeway in Thousand Oaks, are entering a market that agents say has not offered new homes in the area for some time.

``There is some competition now among new homes that we basically didn't have last year,'' said Jim Keith, president of the association. ``There was nothing there last year.''

The association only tracks sales of previously owned homes, and information about new-home sales in the area was not available.

However, Dos Vientos officials said sales have been strong since their houses first went on the market in spring, with waiting lists forming in some portions of the development.

``What we do offer in terms of competition is something brand-new,'' said Dos Vientos developer Arlen Miller. ``There is a tremendous pent-up demand. . . . There is not that much opportunity for brand-new homes throughout the county.''

The downturn comes as the resale-home market has been robust for most of the year, as the local economy remains healthy and families continue to be attracted to the area.

For example, sales of single-family homes in January totaled 190, up from 181 the previous year. And in May, part of the busy spring and summer moving season, sales skyrocketed to 435 homes, from 302 in May 1997. In October, there were 224 homes sold.

Keith said that even with the new homes in Dos Vientos, the stock of resale single-family homes remains down in the Conejo Valley, which comprises Thousand Oaks, Westlake Village, Agoura Hills and other communities.

As of midweek, he said, there were 539 homes on the market. ``Inventory is still low,'' he said.

The association also reported that the November median sales price for resale homes was $293,180, up from $256,862 last year. But real estate transactions in the area for November reflected the downturn in home sales, with $74.8 million in reported sales compared with $93.3 million in 1997, according to resale home figures from the association.

Keith added that the winter months often bring fewer homes to the market, as many sellers do not consider putting their houses up during the holiday season.

New residential listings for November totaled 266, compared with 298 last month and 370 last year.