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West Torrance Real Estate Market Trends

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When buying or selling homes in West Torrance, knowing and understanding the real estate market is critical to making the right decision. Real estate trends can help determine current values or even when the appropriate time to list and sell your West Torrance home. The information below is intended to help you get a better understanding of what is happening in the market.

The chart below shows the number of active listings (light green) sold homes (dark green) and pending home sales (red line) The greater the discrepancy between active homes and sold homes indicates a buyers market and when the numbers are closer a sellers market is indicated as inventory is down.

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

Hollywood Riviera Real Estate Market Trends

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When buying or selling homes in the Hollywood Riviera neighborhood of Torrance and Redondo Beach, knowing and understanding the real estate market is critical to making the right decision. Real estate trends can help determine current values or even when the appropriate time to list and sell your Hollywood Riviera home. The information below is intended to help you get a better understanding of what is happening in the market.

The chart below shows the number of active listings (light green) sold homes (dark green) and pending home sales (red line) The greater the discrepancy between active homes and sold homes indicates a buyers market and when the numbers are closer a sellers market is indicated as inventory is down.


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

Vista Sotheby’s International in Torrance CA

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Your local Torrance real estate expert

When working with Torrance real estate specialist Keith Kyle, you get more than just the expertise and service of one person….you get the backing, support and global reach of Vista Sotheby’s International Realty, one of the most successful and reputable real estate companies in the South Bay.

While Vista Sotheby’s and South Bay Brokers merged in the summer of 2015, the new company still holds the values and founding principles.  Founded in 1985, South Bay Brokers had been an industry leader since it’s inception and continues today to be a leader in terms of expert, honest real estate in the South Bay. With offices in Manhattan Beach, Hermosa Beach, Redondo Beach, the Hollywood Riviera and Palos Verdes, Vista Sotheby’s agents are area experts in the cities of Manhattan Beach, Hermosa Beach, Redondo Beach, Torrance, El Segundo, Lawndale, Hawthorne, Palos Verdes and surrounding neighborhoods.

Serving all of your Torrance real estate needs. With offices in Manhattan Beach, Hermosa Beach, and Redondo Beach, we are your South Bay Realtors.

  • Manhattan Beach – 2501 N Sepulveda Blvd 2nd Floor, Manhattan Beach CA 90266
  • Hermosa Beach – Pier Avenue, Hermosa Beach CA 90254
  • Redondo Beach – 1640 S Pacific Coast Highway, Redondo Beach CA 90278
  • Riviera Village – 1801 S Catalina, Redondo Beach, CA 90277
  • Palos Verdes – 608 Silver Spur Road – Suite 103, PV Peninsula CA 90274

Founded in 1985, South Bay Brokers has been an industry leader since it’s inception and continues today to be a leader in terms of expert, honest real estate in the South Bay. With offices in Manhattan Beach and Redondo Beach, South Bay Brokers are area experts in the cities of Manhattan Beach, Hermosa Beach, Redondo Beach, Torrance, El Segundo, Lawndale, Hawthorne, Palos Verdes and surrounding neighborhoods. South Bay Brokers has recently become noted as short sale experts and can help both buyers and sellers through this rather challenging process.

At Vista Sotheby’s International we take pride in our consistently high sales volume, unquestioned ethics and deep community involvement – and have done so for the past 20 years. All of these winning qualities stand firm upon a strong, stable, enduring foundation provided by our founding Brokers, our dedicated agents, staff longevity, cooperative working environment and continuing education program.

If you’re looking to buy, to sell or just get a feel for the area, you’ve come to the right place. We are here to help.

Some of the homes we’ve sold in Torrance CA

2215 w 229th Street Torrance
4171 172nd St Torrance
old torrance homes
2215 229th St Torrance
4171 172nd St Torrance
1323 Cota Av Torrance
Village Court 55+ condos
340 Via Colusa Redondo Beach
977 Calle Miramar Redondo Beach
21345 Hawthorne #415 Torrance
340 Via Colusa Hollywood Riviera
977 Calle Miramar Hollywood Riviera
2160 Plaza Del Amo #165 Torrance
623 Paseo De La Playa Redondo Beach
19445 Sturgess Drive Torrance
2160 Plaza Del Amo #165 Torrance
623 Paseo De La Playa Hollywood Riviera
19445 Sturgess Dr Torrance
5018 Arvada St Torrance
16808 Delia Av Torrance
19522 Anza Ave Torrance
5018 Arvada St Torrance
16808 Delia Av Torrance
21714 Evalyn Av Torrance
south east torrance homes
1310 Portola Ave Torrance
Gables senior conddos at 3550 Torrance Bl
18309 Amie Av Torrance
1310 Portola Ave Torrance
3550 Torrance Boulevard #515
4818 Reese Road Torrance
harbor gateway torrance homes
19522 Anza Ave Torrance
4818 Reese Road Torrance
2525 Highcliff Torrance
19522 Anza Av Torrance

10 Torrance Home Buyer Tips and Helpful Information

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Assistance for First Time Home Buyers in Torrance CA – 10 Home Buying Tips

  1. Find a real estate professional who is the right fit for you.   Home buying is not only a big financial commitment, but also an emotional one. It’s critical that the Realtor®  you choose is both skilled and a good fit with your personality.
  2. Timing the market.   There is no “right” time to buy anymore than there is a right time to sell. If you find a home now, don’t try to second-guess the interest rates or the housing market by waiting. Changes don’t usually occur fast enough to make that much difference in price and a good home won’t stay on the market long. See article on trying to time the real estate market.
  3. The most important opinion is your own.  It’s natural to want reassurance for such a big decision, but too many  ideas will make it much harder to make a decision. Don’t ask for too many opinions and trust your own instincts.
  4. The Big Picture. Accept that no house is ever going to be perfect. Pay attention to the things that are most important to you and let the minor things go. Make the decision based on whether you would be happy in the home.
  5. Keep negotiations realistic.  Negotiation is definitely a part of the real estate process, but trying to “win” by getting an extra-low price may lose you the home you love and although the difference may sound like a lot, it may be an insignificant difference over the life of a 30 year mortgage.
  6. Remember your home doesn’t exist in a vacuum.   Don’t get so caught up in the physical aspects of the house: room size, kitchen, floors, etc. that you forget such issues as amenities, noise level, neighborhood, etc. that have a big impact on what it’s like to live in your new home.
  7. Get pre-qualified or pre-approved.  Don’t wait until you’ve found a home and made an offer to get approved for a mortgage. Not only is getting pre-qualified quick and easy, but there is no obligation. Finding out how much you can afford, whether your credit could use some repairing, and what your monthly payments might be, is a significant step toward buying a house and making the process less stressful.
  8. Factor in maintenance and repair costs in your post home-buying budget. Even if you buy a new home, there will be some costs. Don’t leave yourself short and let your home deteriorate.
  9. Accept that a little buyer’s remorse is inevitable and will probably pass. Buying a home, especially for the first time, is a big commitment, but it also yields big benefits. It is common to question your decision but in the long run, home ownership is usually a fantastic opportunity.
  10. Choose a home first because you love it; then think about appreciation. A home’s most important role is as a comfortable, safe place to live. With the increases in value in the early 2000’s, people have begun to think of their home strictly as a way to make money. Make sure your home is something that you’ll enjoy living in for a long time.

See our other articles for first time homebuyers:

Will Overpricing Help Slow the Market Down?

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By Keith KyleTorrance Homes

I’ve noticed an early January trend in some of the local markets as many homes now seem to be listed at prices that recent sales just don’t seem to justify. Will this overpricing help slow the market down a little as we’re starting to see some homes sit on the market and even eventual price reductions.

We’ve seen the market increase in value dramatically in the past 12 months with values generally rising each month but since late November we seem to be seeing more homes priced well above the current market and well above the pricing trend. Only time will tell what 2014 has in store in the Beach Cities real estate market but as perception is such a real part of real estate, buyers now seeing homes sit on the market without selling may mark the beginning of a slow down.

Who Pays for What in Escrow

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Closing Costs – Who Generally Pays What In a Torrance CA Escrow

Title Fees

Cost
Customarily
Charged By/To:
Description

Owners
Title Policy

 Title:
To Seller		 Fee for the title policy. Calculated using the sales price.
May be reduced if home was purchased or refinanced in
the last 5 years. Insures that the title is as agreed
to at closing

Lenders
Title Policy

 Title:
To Buyer		 Title  policy issued to lender to cover the amount of the loan. Based on the loan amount unless it is a negative amortization loan.

Sub
Escrow Fee

 Title:
to Buyer & Seller		 Fee  to administer the payoff of loans or property taxes
of the seller and collection of funds from the new lender

Document
Transfer Tax

 County,
City: to Seller		 Fee  charged on all properties that transfer title – based
on sales price.

Record
Release/Reconveyance

 County:
To Seller		 Charge  to record the release/reconveyance

Federal
Express

 Federal
Express: to Buyer & Seller		 Charge  to deliver all time sensitive documents and monies

Title/Wire
Fee

 Banking
Instituion: to Seller		 Charge  to wire funds to escrow, seller, lenders, etc

Electronic
Recording

 County:
to Buyer		 Charge  to electronically record the document

Record
Grant Deed

 County:
To Buyer		 Charge to record the grant deed

Record
Trust Deed

 County:
To Buyer		 Charge
to record the trust deed.

Messenger

 Messenger
Service: To Buyer and Seller		 Charge to special messenger documents during the escrow: Fee  varies with distance

Lender’s
Endorsement

 Title:
to Buyer		 Charge  for endorsements required by lender to cover “outside the normal” risk circumstances

Escrow Fees

Cost
Customarily
Charged By/To:
Description

Escrow
Fee

Escrow:
to Buyer & Seller		 Covers  liability assumed as well as standard processing costs.

Damand
Fee

Escrow:
to Seller		 Charge  to request a statement & process involved in getting
a payoff figure to escrow on the outstanding amount of the current loan.  One demand fee per loan.

Process
HOA Docs & Transfer Fee

 Escrow:
to Buyer & Seller		 Fee  for processing required to assign membership for HOA
a& copying all governing documents

Document
Fee

Escrow:
to Buyer		 Covers  the cost of all processing required to meet new lender
requireents

Loan
Tie-In Fee

 Escrow:
to Buyer		 Covers  the cost of all processing required to meet new lender
requirements

Federal
Express

Federal
Express: to Buyer		 For  document packages to out of County Lenders.

Lender Fees

Cost
Customarily
Charged By/ To
Description

Origination
Fee

Lender:
to Buyer		 Charge  for lending money at 1% of the loan amount

Documentation
Preparation

 Lender:
to Buyer		 Paid  to lender for preparation of final loan documents

Tax
service

Tax
Service: to Buyer		 Fee  charged to buyer to set up property taxes with the state

Wire

 Banking
institution 		Charge  for the wiring of funds to title for closing

Underwriting

 Lender:
to Buyer		 Fee  to direct lender for the process of approving

Tax
impounds

Lender:
to Buyer		 Collected  to create an impound reserved account for the lender to pay property taxes twice a year

Insurance
impounds

Lender:
to Buyer		 1yr  + 2 months hazard insurance collected for impound reserve  account

Appraisal

 Appraiser:
to Buyer		 Paid  directly to appraiser for appraisal of property

Credit
Report

Lender:
to Buyer		 Paid  to credit bureau for report containing 3 credit scores

Processing

 Lender:
to Buyer		 Paid  to mortgage broker for processing loan package from
application to closing

Disbursements

Cost
Customarily
Charged By/ To
Description

HOA  Transfer Fee

 HOA Management: to Seller To  transfer ownership and handle new accounting set up

HOA  Dues

HOA Management: to Seller Paid  through month o closing

Fire  Insurance

Insurance Agency: to Buyer 1  year prepaid premium for Homeowners insurance

Notary

 Notary:  to Buyer Charge  to seller for signing of grant deed or certificatin

Payoffs

Cost
Customarily
Charged By/ To
Description

Recording  Fee

Existing  Lender: to Borrower Charge  for having reconveyance recorded.

Statement forwarding fee

 Existing  Lender: to Borrower Charge  for issuing a payoff statement

Credits
and Prorations

Cost
Customarily
Charged By/ To
Description

HOA  Dues

 Seller: to Buyer Calculated  from date of COA through month-end

County  Property Taxes

 Seller:  to Buyer Calculated  from the date of payoff through end of period paid for.