Torrance real estate and homes for sale

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What’s happening in the Torrance Real Estate Market?

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Take a look at the charts below to get a better understanding of what’s happening in the Torrance real estate market.   We hope that getting an awareness of what the real estate market has been doing for the past 18 months can help make you a knowledgeable home buyer or seller in this great city.  See the current homes for sale in the various neighborhoods of Torrance.

For Sale, Sold and Pending Sales in Torrance CA

The chart below shows the average price per square foot. Square footage in the South Bay often doesn’t mean as much as in other markets as values can vary so dramatically due to things such as proximity to the beach, views, specific neighborhoods.

The chart below shows the average days on market per month as well as the % of list price that homes sold at.  A high % indicates a sellers market as home sell at, or above list price.

The chart below shows the average price for listed home sales in relation to the average price for sold homes.

The chart below indicates the months of home inventory based on closed home sales.  Buyer’s market: more than 6 months of inventory  Seller’s market: less than 3 months of inventory  Neutral market: 3 – 6 months of  inventory

How Buyers and Sellers Handle Home Inspection Challenges

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One of the more treacherous parts of an escrow is the home inspection and request for repairs.  Often times the buyer thinks that the home inspection is a “checklist” of what needs to be fixed while the seller either thinks their home is perfect or “it was just fine for us so why does the buyer need things that work fine upgraded or repaired”.  Finding middle ground isn’t always easy.

As the graphic below shows, 80% of home inspection reports show at least something needing to be fixed.  We always recommend to both our buyers and sellers to be reasonable.  On the buyer side stick to actual problems or repairs.  If it’s an issue that the buyer will have to immediately pay for to have repaired…it’s a reasonable request.  The biggest challenge items are either those called out as not up to current code, or items towards the end of their service life.  Buyers need to understand that the statement “not up to current building code” does not mean it’s necessarily problematic.  Codes change all of the time and unless it’s a clear safety issue, it’s usually best to stick with actual repairs.  Items at the end of their service life really depend on the item, the cost and how extensive the rest of the repair list.  We’ve found that asking for everything usually ends with the seller dismissing any repairs….even the reasonable ones.

home inspection challenges

Keith Kyle is a top producing realtor and Torrance real estate specialist with Vista Sotheby’s International Realty in the South Bay.  Contact Keith for more information on how the home inspection and escrow process works in Torrance real estate.

Hollywood Riviera Home Sales and Home Prices for October

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The Hollywood Riviera in Torrance had a fairly typical month for October 2019.  There were 9 home sales during the month and all wereHollywood Riviera homes for sale single family homes.   The median list price for the closed sales was $1,200,000 with the median sales price of $1,177,500 indicating that it is still a solid seller’s market.  That does seem to be shifting somewhat with the playing field leveling just a bit.  The least expensive home sale during October was $820,000 for a 3 bedroom, 2 1/2 bath single family home at 4414 Highgrove and the most expenseive sale of the month was a Louis Tomaro designed home at 340 Via Colusa.  This home was of particular interest to us as we were the listing agents when the sellers purchased the home.

View the current homes for sale in the Hollywood Riviera

Hollywood Riviera Home Sales in October

SB19185312 SFR/D 123 Via Anita $1,350,000 $564.85 4/1,2,0,0 2390/A 1954/ASR 10/18/2019
SB19055980 SFR/D 143 Via Los Miradores $1,500,000 $575.15 3/1,1,1,0 2608/A 1985/PUB 10/4/2019
SB19216324 SFR/D 423 Via San Sebastian $1,600,000 $1,018.46 3/1,1,0,0 1571/A 1954/ASR 10/28/2019
PV19017943 SFR/D 340 Via Colusa $1,840,000 $718.75 5/4,0,2,0 2560/A 2004/ASR 10/31/2019
SB19224613 SFR/D 4414 Highgrove $820,000 $676.57 3/1,0,1,0 1212/A 1954/ASR 10/11/2019
IN19202984 SFR/D 4914 Pacific Coast $850,000 $750.88 3/1,0,1,0 1132/A 1953/SEE 10/25/2019
SB19130538 SFR/D 3898 Newton ST $965,000 $599.01 3/1,1,0,0 1611/A 1940/ASR 10/4/2019
PV19216333 SFR/D 23705 Susana AVE $1,105,000 $865.99 3/1,0,1,0 1276/A 1954/ASR 10/22/2019
SB19177109 SFR/D 5002 Paseo De Las Tortugas $1,177,500 $595.30 3/2,0,0,0 1978/A 1956/ASR 10/18/2019

Recent Home Sales in The Communities of Plaza Del Amo

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Plaza Del Amo is a unique area in Central Torrance with an abundance of gated communities.  Although there are certainly complexesChatelaine townhomes Plaza Del Amo Torrance inTorrance that are similar there is no concentration of these single family, townhome and condo communities anywhere else.  It’s really a real estate market unto itself in the heart of Torrance.

The real estate market in the Plaza Del Amo area was solid once again for the month of August 2019 with 11 closed home sales during the month.  The lowest priced sale of the month was a 1 bedroom condo on Merrill selling at just under $400,000 with the high sale of the months being a 4 bedroom single family home on Cranbrook selling at $895,000.  View also the current homes for sale in the Plaza Del Amo communities of Torrance.

Plaza Del Amo Torrance August Home Sales

MLS Type Address Sales Price $ Per Foot Bed/Bath Sq Feet Year Close Date
SB19124068 CONDO/A 2559 Plaza Del Amo #208 $535,000 $508.56 1/1,0,1,0 1052/A 1984/ASR 8/1/2019
PV19116891 TWNHS/A 2800 Plaza Del Amo #239 $620,000 $569.85 2/2,0,1,0 1088/A 1988/ASR 8/2/2019
IV19127812 SFR/D 905 Faysmith AVE $890,000 $540.05 4/2,0,0,0 1648/A 1951/PUB 8/2/2019
SB19142190 TWNHS/A 2801 Sepulveda BLVD #122 $825,000 $455.55 3/2,0,1,0 1811/A 1996/ASR 8/6/2019
SB19150625 SFR/D 1633 Hickory AVE $880,000 $511.93 4/1,0,1,0 1719/A 1948/ASR 8/7/2019
SB19157610 TWNHS/A 2595 Plaza Del Amo #415 $668,000 $491.54 2/2,0,1,0 1359/A 1986/ASR 8/14/2019
PW19114607 SFR/A 1204 Cranbrook AVE $895,000 $473.54 4/2,0,0,0 1890/A 1951/ASR 8/21/2019
SB19181641 SFR/D 1719 Iris AVE $880,000 $451.75 4/2,0,1,0 1948/A 1957/ASR 8/26/2019
SB19163321 TWNHS/A 3101 Plaza Del Amo #23 $635,000 $466.57 2/3,0,0,0 1361/A 1986/ASR 8/29/2019
SB19150903 CONDO/A 3030 Merrill DR #39 $398,000 $457.47 1/1,0,0,0 870/A 1963/ASR 8/30/2019
819003245 SFR/D 1027 Kornblum AVE $809,000 $641.55 3/1,0,1,0 1261/P 1951/ASR 8/30/2019

Staging Makes a Difference

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Does staging a home make a difference? It absolutely can and absolutely does.  Staging takes the guess work out for many buyers…..bedrooms look bigger, spaces look brighter, and it all helps buyers see vision of what the house could be.  For sellers the cost of staging is usually more than recovered in a higher sales price and often a shorter time on the market.  We can help you with the staging process from helping you to select a stager, coming up with the perfect design, and in some cases even helping stage your home at no additional cost.

Staged homes in Torrance