Torrance Real Estate Statistics

Information is critical in real estate and the right information can help you determine where the market has been and where the market is heading.  See the various charts below to view some important real estate statistics such as average sales price in Torrance, number of active v pending listings, etc.

Median Home Prices in Torrance

Number of active Listings

Number of Pending Home Sales

Number of Closed Sales

Median Price Per Foot

Prop 60 and 90 Information for Torrance Home Buyers and Sellers

**Propositions 60 and 90 are Constitutional initiatives passed by California voters. They provide property tax relief by preventing reassessment when a senior citizen sells his/her existing residence and purchases or constructs a replacement residence worth the same or less than the original. They were enacted to encourage a person, age 55 or older to “move down” to a smaller residence. When a senior citizen acquires a replacement property worth less than the original property, he/she will continue to pay approximately the same amount of annual property taxes as before.

How Do These Propositions Work?

When the senior citizen purchases or constructs a new residence, it is not reassessed, if he/she qualifies. The Assessor transfers the factored base value of the original residence to the replacement residence. Proposition 60 originallyrequired that the replacement and the original be located in the same county. Later, Proposition 90 enabled this to be modified by local ordinance. Los Angeles County enacted an ordinance to provide that when the replacement is located in Los Angeles County, the original property may be located in any other California county.

Who Qualifies?

If you or your spouse that resides with you are age 55 or older, you may buy or construct a new home of equal or lesser value than your existing home and transfer the trended base value to your new property. This is a one-time only benefit. You must buy or complete construction of your replacement home within two years of the sale of the original property. Both the original home and the new home must be your principal place of residence. A claim must be filed within three years of purchasing or completing new construction of the replacement property. If a claim is filed after the three-year period, relief will be granted beginning with the calendar year in which the claim was filed.
Once you have filed and received this tax relief, neither you nor your spouse who resides with you can ever file again.

Eligibility Requirements

  1. The replacement property must be your principal residence and must be eligible for the Homeowners’ Exemption or Disabled Veterans’ Exemption.
  2. The replacement property must be of equal or lesser “current market value” than the original property. The “equal or lesser” test is applied to the entire replacement residence, even if the owner of the original property acquires only a partial interest in the replacement residence. Owners of two qualifying original residences may not combine the values of those properties in order to qualify for a Proposition 60 base-year transfer to a replacement residence of greater value than the more valuable of the two original residences.
  3. The replacement property must be purchased or built within two years (before or after) of the sale of the original property.
  4. Your original property must have been eligible for the Homeowners’ or Disabled Veterans’ Exemption.
  5. You, or a spouse residing with you, must have been at least 55 years of age when the original property was sold.

When Are These Propositions Effective?

The replacement residence must have been purchased or constructed on or after November 5, 1986 if the original was located in Los Angeles County. The replacement residence must have been purchased or constructed on or after November 9, 1988 if the ongmal was located in any other California county. Claims must be filed within three years following the purchase of the replacement residence.

Were Are Claim Forms Available?

They are distributed at Assessor’s public counters, in Room 225 of the
Kenneth Hahn Hall of Administration, and in district offices. If you need additional information, call (213) 893-1239.

Counties Accepting Prop 90 Transfers:

 

Alameda
Orange
San Diego
Tuolumne
El Dorado * (set to expire 2021)
Riverside
San Mateo
Ventura
Los Angeles
San Bernardino
Santa Clara

**much of the information above and some additional information can be found at the County Assessor flyer at https://assessor.lacounty.gov/wp-content/uploads/2015/02/E-20.pdf

 

 

How Do I find Off Market and Pocket Listings in Torrance CA?

In this incredibly competitive real estate environment many homes are not even making it to the market.   So how do you find out about these homes?  First it’s important to understand just what we’re talking about.

What does off market or a pocket listing mean?

It can actually mean a few different things but in general, when we refer to homes sold off market or pocket listings these are homes that are never put on the MLS and therefore unknown to most buyers and many realtors.  That means that searching the Redfins and Zillows of the world may mean that you’re not aware of these types of opportunities.

Why would a Torrance homeseller want to sell the home off market?

In general it’s not a great idea.  Fewer buyers that know about the home usually means less competition and ultimately a lower sales price.  That’s certainly not always the case but usually accurate to some extent.  Sellers have many reasons for not wanting to put their home on the market.  It may be due to privacy reasons such as not wanting the neighbor or even the tenant know that the home is for sale.  It may be that they don’t want to deal with some of the hassles that come along with listing a home…..buyer’s and agents that want to show the home at all hours, open houses on the weekends and more people simply curious with few legitimate buyers.  Whatever the reason it does limit the exposure and again usually limits the price.

That’s why it can be a good opportunity for buyers….less competition, fewer bidding wars which generally leads to a lower sales price.

How do I find out about these homes?

Unlike the MLS listings, off market, upcoming and pocket listings are much more elusive.  The key is to work with an agent that has deep connections in the Torrance real estate market and community.  Some of the top realtors in certain areas may share information on these hard to find opportunities and the larger or more numerous the seller and agent networks, the more information the agent can obtain.

We are happy to help you find off market homes in Torrance but this requires a good deal of work, considerable communication with sellers and agents and a readiness to act should the right home come available.  If you would like us to help find off market opportunities and are not currently working with a realtor please feel free to text us at 310-251-2344 or email us with the details of your home search.

New Real Estate Website for Home Buyers and Sellers in the Hollywood Riviera

With the individual real estate markets in the South Bay being so diverse and specialized, the larger real estate sites and portals just can’t focus on specific neighborhoods.  We are proud to announce the Hollywood Riviera real estate website www.HomesinHollywoodRiviera.com which will provide home buyers and sellers insight into this localized market.   From the current homes for sale and MLS listings, to determining the value of homes in the area, to finding realtors that specialize in the real estate market of the Hollywood Riviera, we hope the site is an invaluable resource for all things real estate in this wonderful coastal community.

Torrance Short Sales Continue to Dwindle

As a short sale specialist I have tracked the short sale market for years and as Torrance is the largest city in the SouthForeclosure-sign Bay, it has been a very good indicator of how much of a factor short sales and bank owned homes have been on the local market.  Short sales first became a factor in mid 2007 with a high point in 2010.  In August of 2010 there were 159 active short sale homes for sale in Torrance.   Those numbers started to decline in April of 2011 and have continued downward to the current level which has seen an average of 4 homes for sale for the past few months.  What was a source of the “deals” sought by buyers is no longer putting downward pressure on the market and has basically ceased to be a factor. View short sale homes for sale on our distressed home site for Torrance and all of the South Bay

Torrance Alternative – Beautiful Townhome for Sale in Hermosa Beach

By Keith Kyle618_1st_St_front1 copy

While we may be focused on Torrance real estate we do have listings elsewhere as well.  Located just a few short blocks to the beach at 618 1st Street, this beautiful detached Cape Cod designed townhome offers the best in beach living in Hermosa Beach.  Very rare for this area of Hermosa, the home is completely detached and feels like a single family home with great outdoor spaces and a private entry. With a mid level entry and reverse floorplan, the formal entry offers soaring ceilings, hardwood floors and is bathed in natural light.  Entry level features the master suite, 2 spacious bedrooms, convenient laundry area, and a full bath.  The enormous master suite features dual walk in closets, new carpet and paint, and an beautiful bath with jacuzzi tub and  shower.  The upper level offers an incredible amount of space with an open and flexible layout that can adapt to your lifestyle.  The living room features vaulted ceilings, beautiful gas fireplace, and 4 French doors allow for direct access to the patio to take in the near perfect weather.  The top floor also features an oversized and open kitchen with recessed lights, stainless appliances sits cental to both the living room and huge dining room.  Head up to the rooftop deck for great ocean and city light views.  The home also offers a nice backyard area with deck and artificial turf, and a two car attached garage.  All of this ideally located in Hermosa Beach, recently voted the 10th “Happiest Seaside Towns in America” by Coastal Living Magazine.

 Contact listing agent Keith Kyle with Vista Sotheby’s International Realty for more information or for a private showing.  Details and videos at 618FirstStreet.com



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Torrance Housing Inventory Still Down But on the Rise

By Keith Kyle1310_Portola_Ave_frontdoor1 copy

The real estate market in Torrance CA continues to be driven by the lack of homes for sale but for the third straight month we have seen an increase in the number of homes for sale.  Inventory has been on the rise since the low point in December but still far below the norm.  We have also seen an increase in the pending home sales over that same period of time and it appears that the inventory will continue to rise as we head towards the usually busy summer buying and selling season.  See all of the Torrance homes for sale or search by neighborhoods.  To see the most recent Torrance home sales visit our closed sale pages.

See the Homes That We Have Sold in Southern California

By Keith Kyle

We are so fortunate to have worked with so many wonderful people and in such a great area.  It just doesn’t get much better.  See the map below to view all of our local home sales. Although we’ve sold more homes in Torrance and Redondo, we have been lucky enough to sell throughout the area, from Santa Monica to Huntington Beach. Many of these were first time buyers and are now happy homeowners. The red marks are home sales in which I represented the buyer, the orange marks represent homes that I listed, and the blue marks represent homes in which I represented both buyers and sellers.  Click on the marks to see pictures of the various homes and properties.

You can also see the interactive map of our South Bay home sales on Google.

Current Torrance CA Foreclosures and Short Sales

Updated January 20th, 2015Torrance Home Values

While the number of distressed home sales in Torrance has dropped considerably in the past 2 years there are still a number of homes for sale at some stage of the foreclosure process.  Although these homes are not quite the bargains they were there are some homes that are still priced below market value due to the extra work and patience required by the home buyers.  The process has certainly gotten streamlined by the banks but they are still not as straightforward as traditional sales.

Current Torrance short sales

MLS# Type   Address Type  Price  Bed/Bath Year Built Sq Feet
PW14096768 CONDO/A 22334 Harbor Ridge LN #2 FOR, NOD, SPAY  $340,000 3/2,0,1,0 1980/ASR 1553/A
CV14230210 SFR/D 1157 W 225th ST #A FOR, NOD, SPAY  $639,000 5/3,0,0,0 2007/ASR 3068/A
PV14142427 TWNHS/A 3090 Newton ST NOD, SPAY  $629,000 2/3,0,0,0 2003/ASR 1852/A
OC14157232 SFR/D 2693 Hillside DR FOR, NOD, SPAY  $899,900 4/3,0,0,0 1983/ASR 2698/A
14811725 SFR/D 3227 W 188TH ST SPAY  $549,000 4/3,0,0,0 1950 1854
14797349 SFR/D 2701 W 182ND ST SPAY  $450,000 2/1,0,0,0 1946 961
PW14211431 SFR/D 2756 Border AV SPAY  $565,000 3/2,0,1,0 2003/ASR 2020/A

Current Bank Owned Homes and Foreclosures

MLS# Type   Address Type  Price  Bed/Bath Year Built Sq Feet
SB14231286 SFR/D 1323 W 227th ST REO  $369,900 4/2,0,0,0 1956/ASR 1377/A
DW15005743 SFR/D 2119 W 187th ST REO  $508,300 3/2,0,0,0 1959/ASR 1420/A

Flipped Homes Becoming Commonplace in North Torrance

By Keith Kyle

You don’t have to look far to see that investor owned “flipped” houses are a significant portion of the active home listings in North Torrance. Investors have long sought out homes in this area as many homes, most built post WWII in the late 1940’s and 1950’s, have not been updated in any significant way but are usually well built and structurally in good shape. Those factors, along with great schools and highly sought after neighborhoods, have made North Torrance a fairly ideal market with low inventory and prices on the rise since early 2013. Gone are the days of distressed sales and short sales, so the margins have grown much tighter but given the demand, expect to see an abundance of remodel and flipped property in 2015.  Below are just a few of the recent flips but there are certainly others and will be more coming to the market.   Contact us about any of these homes, to find out about upcoming remodels or to look for potential investment/”as is” opportunities.

For Sale at $594 - 400sq feet added

For Sale at $594,ooo – 400 sq feet added

Sold in 2012 for $270

Sold in 2012 for $270,000

3318 Artesia Blvd.

For Sale at $624,000 550 sq ft added

For Sale at $624,000 550 sq ft added

Sold in 2014 for $472,000

Sold in 2014 for $472,000

4171 W 172nd Street

For sale at $699,000 1000 sq ft added

For sale at $699,000 1000 sq ft added

Sold in 2012 for $250,000

Sold in 2012 for $250,000

4348 W 179th Street

Sold 12/14 for $596K

Sold 12/14 for $596K

Sold July 2014 for $456,000

Sold July 2014 for $456,000

4312 W 178th Street

Current homes for sale in North Torrance

  1. 4 beds, 2 baths
    Home size: 1,392 sq ft
    Lot size: 5,557 sqft
    Year built: 1953
    Days on market: 4
  2. 3 beds, 2 baths
    Home size: 1,114 sq ft
    Lot size: 5,391 sqft
    Year built: 1952
    Days on market: 5
  3. 3 beds, 2 baths
    Home size: 1,500 sq ft
    Lot size: 4,999 sqft
    Year built: 1950
    Days on market: 5
  4. 3 beds, 2 baths
    Home size: 1,241 sq ft
    Lot size: 4.99 ac
    Year built: 1964
    Days on market: 11
  5. 3 beds, 3 baths
    Home size: 1,671 sq ft
    Lot size: 1.02 ac
    Year built: 2001
    Days on market: 11
  6. 4 beds, 2 baths
    Home size: 1,621 sq ft
    Lot size: 5,729 sqft
    Year built: 1954
    Days on market: 15
  7. 3 beds, 2 baths
    Home size: 1,507 sq ft
    Lot size: 4,999 sqft
    Year built: 1953
    Days on market: 17
  8. 4 beds, 2 baths
    Home size: 2,008 sq ft
    Lot size: 10,355 sqft
    Year built: 1953
    Days on market: 20
  9. 3 beds, 2 baths
    Home size: 1,675 sq ft
    Lot size: 5,600 sqft
    Year built: 1955
    Days on market: 23
  10. 4 beds, 3 baths
    Home size: 1,472 sq ft
    Lot size: 6,073 sqft
    Year built: 1951
    Days on market: 24

See all Real estate in the 90504 zip code.
(all data current as of 2/25/2018)

Listing information deemed reliable but not guaranteed. Read full disclaimer.