Coming to the market in the summer of 2017. Classic California craftsman in Old Torrance on an oversized lot. Contact Keith Kyle at 310-251-2344 or Keith.Kyle@VistaSIR.com
2016 Top Producing Realtor Announced in the South Bay
Vista Sotheby’s International, one of the top real estate firms in Torrance and the South Bay area of Los Angeles have recently announced their “Top Producers” for 2016. With offices throughout the area including Manhattan Beach, Hermosa Beach, Palos Verdes, Redondo Beach and the Hollywood Riviera, Vista Sotheby’s has quickly become the dominant force in the local real estate market.
We are proud to annouce that Manhattan Beach realtor Keith Kyle was one of the top agents companywide and was the #9 top producing agent for 2016. Congrats to all of the realtors given the award. See also the Vista Sotheby’s top producers for 2015.
We wanted to thank all of our clients and friends that helped make 2016 such as successful year in real estate.
28 Homes over $1,000,000 in Torrance
It wasn’t long ago that a Torrance home in the million dollar range was a rarity….now it’s fairly commonplace. Currently there are 21 homes in the city of Torrance that are priced higher than this formerly elusive price. If you factor in homes in the homes for sale in the Hollywood Riviera, which has a Redondo Beach mailing address but is actually in the city of Torrance, there are actually 28 homes price over $1,000,000 with 5 homes priced over $2,000,000.
Suddenly the Whole Street is On Sale – Camino De Encanto in the Hollywood Riviera
By Keith Kyle
It’s not often that we see homes come on the market in the lower Hollywood Riviera neighborhood that’s west of Palos Verdes Blvd. Occassionally we see a home or two and more often than not, there is nothing on the market in this area.
That certainly couldn’t be further from the case at the moment as there are 4 homes for sale on Camino De Encanto in the Hollywood Riviera.
There are current 4 homes on the market and all are within a 1/2 block. This is pretty unheard of an probably not ideal for any of the homes as when buyers have options….they want to negotiate.
When Days on Market Doesn’t Necessarily Represent the Days on Market
I’m sure most MLS systems are different but here in the South Bay the days on market on the CRMLS can be a bit misleading. Many buyer and agents use days on market as a negotiating tool….the longer the home has been on the market, the more leverage the buyer has to come in low or negotiate other favorable terms.
The problem is that days on market doesn’t always indicate just how long the home has been available and is not necessarily indicative of “active” status. As realtors when our clients accept an offer we have the option of changing the status to “pending” or “active under contract”. Pending stops the days on market from accruing, but active under contract does not. A home can go into escrow on day one, change the status to active under contract (again meaning it’s in escrow) and if it falls out of escrow 20 days later the days on market for the home will show 20. It’s very misleading as the home has not been available for those 20 days and now puts the seller and listing agent at a disadvantage…..even though it sold the first day.
The other aspect that leads to misinformation is that with this days on market accruing on many home, it does not allow for an accurate picture of the market. For instance a certain area of town or city itself may show an average days on market for a certain month to be one thing….when many of those homes were not actually available. It may show days on market at 45 when the reality is that the homes in the community actually go into escrow after 30.
It’s a problem that needs to be addressed as it can change perceptions….both on an individual home and the market in general.
December 2016 Home Prices in Torrance CA
By Keith Kyle
December was a pretty typical month in Torrance real estate with 112 home sales at a median price of $656,000. December traditionally is a much slower month but with the continued demand for Torrance homes, there doesn’t seem to be such a thing as a slow month. Click here to see the sold homes in Torrance for December. For the current homes for sale visit our active listings page.
City | HomesSold | December2016 Median | December2015 Median | Yearover Year % Change% |
Carson | 54 | $450,000 | $420,000 | 7% |
El Segundo | 14 | $816,000 | $1,171,000 | -30.3% |
Gardena | 44 | $504,000 | $413,000 | 22.1% |
Harbor City | 9 | $523,000 | $404,000 | 29.5% |
Hawthorne | 37 | $575,000 | $520,000 | 10.6% |
Hermosa Beach | 17 | $1,380,000 | $1,625,000 | -15.1% |
Lawndale real estate | 8 | $393,000 | $521,000 | -24.6% |
Lomita | 6 | $473,000 | $535,000 | -11.6% |
Long Beach | 298 | $490,000 | $435,000 | 12.6% |
Manhattan Beach | 38 | $1,863,000 | $1,831,000 | 1.7% |
Marina Del Rey | 21 | $955,000 | $945,000 | 1.1% |
Palos Verdes Estates | 25 | $1,550,000 | $1,675,000 | -7.5% |
Playa Del Rey | 20 | $658,000 | $612,000 | 7.5% |
Rancho Palos Verdes | 47 | $1,088,000 | $945,000 | 15.1% |
Redondo Beach | 75 | $900,000 | $855,000 | 5.3% |
San Pedro | 58 | $515,000 | $485,000 | 6.3% |
Torrance | 112 | $656,000 | $585,000 | 12.1% |
Westchester | 32 | $943,000 | $892,000 | 5.7% |
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