By Keith Kyle
2018 was a banner year for real estate in Torrance CA. Demand was extremely high and prices continued to rise throughout the year with a slight drop towards the winter months which is not unusual. The number of homes for sale really ramped up after spring from a low of 76 homes on the market in January to a high of 167 homes for sale in July. There were 1,195 residential “on market” home sales in Torrance for the year. These statistics do not include the homes in the Hollywood Riviera with Redondo mailing address but actually in Torrance.
Homes Selling At or Above Asking Price
One extremely impressive indicator of just how strong the market remained through the year was the % difference between list price and sold price (how close the sellers were to full asking price). In seven of the months the average home sold at, or above the average list price and in the remaining 5 months they were within a percent or 2 of full list price. That’s a sign of an extremely seller friendly market.
Days on Market Very Low
Another solid indicator was the average days on market with only topped 30 days once….in January of 2018. Median prices for the year generally overed between $700,000 and $800,000.
|Avg. Active Price||$757.000||$749.000||$815.000||$820.000||$814.000||$780.000||$819.000||$809.000||$ 803.000||$771.000||$727.000||$724.000|
|Avg. Sold Price||$714.000||$739.000||$709.000||$739.000||$806.000||$747.000||$715.000||$721.000||$765.000||$744.000||$735.000||$766.000|
|Avg. Sq. Ft. Price (Sold)||488||484||484||483||503||504||482||495||497||469||495||494|
|Sold/List Diff. %||100||101||102||102||102||101||101||100||100||99||99||100|
|Sold/Orig LP Diff. %||99||100||101||101||102||101||100||99||100||98||98||98|
|Avg Days on Market||34||26||22||22||19||20||23||21||25||30||27||29|
|Median Sold Price||700,000||705,000||690,000||740,000||800,000||732,000||695,000||735,000||743,000||716,000||710,000||758,000|