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State of the Torrance Real Estate Market Heading into 2019

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**See updated information on 2020 real estate in Torrance

Torrance is far more than one uniform real estate market.  With neighborhoods that range from sub $500,000 to homes in the multi millions, each area has it’s own localized market.

Visit Torrance Real Estate for more information on the community and market in Torrance CA

In general the real estate market seems to be slowing down heading into 2019.  Demand is cooling with higher interest rates and a fairly regular slow down this time of year when people are busy with the holidays.

According to Torrance realtor Keith Kyle, “It’s clear that the market is cooling off as there has been an increase in new listings coupled with fewer sales and homes going into escrow since summer.”  The chart above shows that the number of active listings has held pretty steady between 150 and 170 since summer, but the number of sold homes as well as new escrows has continued to decrease.  If this trend continues the market will shift more in favor of buyers and less in favor of sellers.  It’s clearly been a sellers market over the past few years.

The chart below shows the upward trend over the past few months with avarage “months of inventory” of unsold homes on the rise.

How Do Torrance Buyers Choose a Neighborhood?

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Just as every community is different…..every home buyer is different as well.  A recent survey provided some insight into California home buyers.  See what is important to home buyers in Torrance and CA according to a recent CAR survey.  Back to home buyer and seller tips.

Here’s some of what home buyers look for when choosing a neighborhood.

  • 25% wanted a home close to friends and family
  • 24% wanted a short commute
  • 20% wanted homes in a specific school district

See the chart below for some other important details when choosing a neighborhood.

 

Torrance California Home Sales for October 2018

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October was another solid month for home sales in Torrance with 112 home sales.  The average listing price for the month was $748,206 with the average sales price at $744,270.  The median list price was $729,000 while the median sold price was at $715,875.  The highest sale of the month was $1,750,000 for a 4 bedroom home in South Torrance in the Seaside Ranchos neighborhood at 5006 Sharynne and the lowest priced sale was a condo at $265,000.

See the current homes for sale in Torrance CA

October 2018 Torrance Home Sales

Type
 
 Address  Price   $ per foot  Bed/Bath Sq Feet Year Built
SFR/D
1554 W
 220th ST  $ 479,000  $    665.28
 1/1,0,0,0 720/A 1924/ASR
SFR/D
1626 W
 214th ST  $525,000  $    713.32
 2/1,0,0,0 736/A 1951/ASR
SFR/D
1456 W
 223rd ST  $580,200  $    499.31
 3/2,0,0,0 1162/A 1944/ASR
SFR/D
1527 W
 213th ST  $585,000  $    565.76
 2/2,0,0,0 1034/A 1940/ASR
SFR/A
1306 W
 214th ST  $600,000  $   364.08
 3/2,0,1,0 1648/A 1959/PUB
CONDO/A
1133
 Sepulveda Blvd #202  $340,000  $    427.14
 2/1,0,0,0 796/A 1973/ASR
CONDO/A
1127
 Sepulveda Blvd #L104  $350,000  $   408.88
 2/2,0,0,0 856/A 1973/APP
CONDO/A
20565 S
 Vermont AVE #8  $390,000  $   402.89
 2/2,0,0,0 968/A 1982/ASR
CONDO/A
23314
 Marigold AVE #S101  $425,000  $   398.69
 3/2,0,0,0 1066/A 1973/ASR
CONDO/A
22912 S
 Vermont AVE #4  $445,000  $    399.82
 3/2,0,0,0 1113/A 1973/ASR
CONDO/A
22919
 Mariposa AVE #801  $450,000  $    381.36
 2/1,1,1,0 1180/A 2009/ASR
CONDO/A
874 W
 232nd ST  $475,000  $   348.50
 3/2,0,0,0 1363/A 1974/ASR
SFR/D
22922
 Doble AVE  $540,000  $    534.65
 3/1,0,0,0 1010/A 1953/ASR
SFR/A
22912
 Doble AVE  $575,000  $    429.10
 4/2,0,0,0 1340/A 1953/ASR
SFR/D
21141
 Broadwell AVE  $605,000  $    376.48
 3/2,0,0,0 1607/A 1954/ASR
SFR/D
20963 S
 Van Deene AVE  $615,000  $    488.10
 3/2,0,0,0 1260/A 1957/ASR
SFR/D
808
 Gian DR  $649,000  $    409.21
 4/2,0,0,0 1586/A 1968/ASR
SFR/D
719 W
 226th ST  $651,000  $    269.34
 4/3,0,0,0 2417/A 1968/ASR
SFR/D
21430
 Marigold AVE  $665,000  $   358.88
 3/2,0,0,0 1853/A 1959/ASR
CONDO/A
24452
 Ward ST  $700,000  $    510.95
 3/1,1,0,0 1370/A 1981/ASR
SFR/D
3322
 Dalemead ST  $750,055  $    702.96
 3/1,0,0,0 1067/A 1950/ASR
SFR/D
3213
 Dalemead ST  $840,000  $    787.25
 3/1,1,0,0 1067/T 1950/ASR
DPLX/D
24240
 Ocean AVE  $900,000  $    348.70
 9/4,1,0,0 2581/A 1955/ASR
SFR/D
3200
 Newton ST  $1,020,000
  $    447.37
 4/2,0,1,0 2280/B 1993/ASR
SFR/D
2849
 Windmill RD  $1,059,000
  $    511.10
 4/2,0,0,0 2072/A 1975/ASR
SFR/D
25932
 Richville DR  $1,305,000
  $    446.00
 4/2,0,1,0 2926/A 1956/ASR
COOP/A
3110
 Merrill DR #85  $477,900  $    367.62
 2/1,1,0,0 1300/E 1964/ASR
COOP/A
3210
 Merrill DR #32  $480,000  $    342.86
 3/1,1,0,0 1400/A 1963/ASR
CONDO/A
2567
 Plaza Del Amo#308  $500,000  $    574.71
 1/1,0,1,0 870/A 1985/ASR
CONDO
3520
 Maricopa ST #5  $520,000  $    389.22
 2/2,0,1,0 1336/A 1975
TWNHS/A
2800
 Plaza Del Amo #266  $655,000  $    514.53
 2/3,0,0,0 1273/A 1988/ASR
TWNHS/A
3508
 Del Amo Bl  $700,000  $    422.45
 4/3,0,0,0 1657/A 1974/BLD
TWNHS/A
2300
 Maple AVE #231  $780,000  $    417.78
 4/3,0,0,0 1867/A 1987/ASR
TWNHS/A
4312
 Spencer ST  $880,000  $    359.77
 3/2,2,1,0 2446/A 1989/PUB
SFR/D
902
 Cerise AVE  $892,000  $    527.19
 3/2,0,0,0 1692/A 1951/ASR
SFR/D
2623
 Bayport DR  $940,000  $    370.96
 4/2,0,1,0 2534/A 1987/ASR
SFR/D
3708
 Michelle DR  $950,000  $   436.98
 4/3,0,0,0 2174/A 1969/ASR
CONDO/A
24410
 Crenshaw Bl #211  $265,000  $    356.66
 1/1,0,0,0 743/A 1987/ASR
CONDO/A
22911
 Nadine CIR #A  $480,500  $    430.17
 2/2,0,0,0 1117/A 1963/ASR
CONDO/A
23053
 Nadine CIR #A  $510,500  $    457.03
 2/2,0,0,0 1117/A 1963/ASR
CONDO/A
22927
 Maple AVE  $544,250  $    562.82
 2/2,0,0,0 967/A 1963/ASR
TWNHS/A
2992 W
 235th ST  $730,000  $    450.34
 3/3,0,0,0 1621/A 2000/ASR
SFR/D
3735 W
 226th ST  $790,000  $    714.29
 3/1,1,0,0 1106/A 1953/ASR
SFR/D
22715
 Eriel AVE  $952,702  $    496.46
 4/2,0,0,0 1919/A 1960/ASR
SFR/D
4521
 Greenmeadows AVE  $ 1,090,000
  $    699.61
 3/1,0,1,0 1558/A 1953/ASR
SFR/D
4625
 Paseo De Las Tortugas  $ 1,295,000
  $    810.39
 3/1,1,0,0 1598/A 1956/ASR
CONDO/A
3970
 Sepulveda Blvd #206  $620,000  $    413.33
 2/2,0,0,0 1500/B 2007/ASR
SFR/D
22939
 Ocean AVE  $820,000  $    554.43
 3/2,0,0,0 1479/A 1955/ASR
CONDO/A
22485
 Kent AVE  $839,000  $    406.89
 3/3,0,0,0 2062/A 1999/ASR
SFR/D
22621
 Susana AVE  $850,000  $1,049.38 3/1,0,0,0 810/A 1952/ASR
SFR/D
3921 W
 234th PL  $866,000  $    513.34
 4/2,0,0,0 1687/A 1962/ASR
SFR/D
4713
 Vanderhill RD  $890,000  $    772.57
 3/2,0,0,0 1152/A 1956/ASR
SFR/D
23148
 Anza AVE  $900,000  $    585.94
 3/2,0,0,0 1536/A 1960/ASR
SFR/D
23430
 Evalyn AVE  $1,035,000
  $   449.02
 5/1,2,0,0 2305/A 1962/PUB
SFR/D
5006
 Sharynne LN  $1,750,000
  $    673.08
 4/2,1,0,0 2600/E 1949/ASR
CONDO/A
5500
 Torrance BLVD #C323  $615,000  $    453.54
 3/2,0,0,0 1356/A 1990/ASR
CONDO/A
21345
 Hawthorne BLVD #101  $665,000  $    540.65
 3/2,0,0,0 1230/A 2005/ASR
SFR/D
5125
 Sepulveda BLVD  $785,000  $    675.56
 3/1,1,0,0 1162/A 1955/OTH
SFR/A
4018
 TORRANCE  $875,000  $    506.95
 3/2,0,0,0 1726/ 1956
SFR/D
21713
 Ladeene AVE  $921,000  $    792.60
 3/1,1,0,0 1162/A 1956/ASR
SFR/D
5215
 Scott ST  $960,000  $    541.46
 3/1,1,0,0 1773/A 1955/PUB
SFR/D
5109
 Beran ST  $961,000  $    438.61
 4/4,0,0,0 2191/A 1955/PUB
SFR/D
21502
 Linda DR  $1,000,000
  $    547.05
 4/2,0,1,0 1828/A 1955/ASR
TWNHS/A
3727
 Emerald ST #B  $600,000  $    531.91
 2/2,0,1,0 1128/A 1987/ASR
SFR/D
5105
 Arvada ST  $730,000  $    421.48
 3/2,0,0,0 1732/A 1954/ASR
COMRES/A
3642
 Garnet ST  $800,000  $    148.45
 11/7,0,0,0 5389/A 1973/PUB
TWNHS/A
4489
 Spencer ST #302  $830,000  $    405.27
 3/2,0,1,0 2048/A 1995/ASR
SFR/D
4765 W
 191st ST  $855,000  $    439.14
 4/2,0,0,0 1947/A 1954/ASR
TWNHS/D
20508
 EARL ST  $875,000  $    446.20
 3/2,0,2,0 1961/ 2004
SFR/D
19905
 Mansel AVE  $909,500  $    649.18
 3/1,1,0,0 1401/A 1955/ASR
SFR/D
20015
 Saltee AVE  $940,000  $    654.14
 3/2,0,0,0 1437/A 1955/ASR
SFR/D
20019
 Mildred AVE  $1,300,000
  $    591.72
 4/1,1,1,0 2197/A 1970/ASR
SFR/D
5515
 Arvada ST  $1,360,000
  $    486.06
 4/4,0,0,0 2798/A 1956/ASR
TWNHS/A
3429 W
 171st ST  $499,000  $    352.40
 3/1,0,1,0 1416/A 1974/ASR
SFR/A
18334
 FALDA AVE  $573,500  $    656.93
 2/1,0,0,0 873/ 1953/BLD
SFR/D
3633 W
 177th ST  $580,000  $    657.60
 2/1,0,0,0 882/A 1953/ASR
SFR/D
18327
 Elgar AVE  $610,000  $    690.05
 3/1,0,0,0 884/A 1953/ASR
SFR/D
17008
 Ermanita AVE  $695,000  $    630.10
 3/1,1,0,0 1103/A 1951/ASR
SFR/D
17108
 Glenburn AVE  $700,000  $    596.25
 2/2,0,0,0 1174/A 1948/ASR
SFR/D
18820
 Patronella AVE  $705,000  $    595.94
 3/1,0,1,0 1183/A 1953/PUB
SFR/D
16623
 Falda AVE  $711,750  $    564.88
 3/2,0,0,0 1260/A 1952/ASR
SFR/D
3621 W
 177th Street  $720,000  $    435.31
 3/2,0,0,0 1654/A 1953/ASR
SFR/D
3709 W
 180th PL  $750,000  $    496.03
 4/2,0,0,0 1512/A 1953/ASR
SFR/D
16705
 Francis CT  $769,000  $    372.76
 4/3,0,0,0 2063/A 1963/ASR
SFR/D
3633 W
 181st ST  $795,000  $    485.35
 3/2,0,0,0 1638/A 1953/ASR
TWNHS/D
18512
 Roslin AVE  $799,000  $    392.44
 3/4,0,0,0 2036/B 2018/BLD
SFR/D
16815
 Fonthill AVE  $815,000  $    372.32
 4/2,0,0,0 2189/ 1954
SFR/D
3733
 Sandgate DR  $815,000  $    449.53
 4/3,0,0,0 1813/D 1960/ASR
SFR/D
18932
 Florwood AVE  $833,000  $    374.89
 5/2,0,1,0 2222/A 1953/ASR
SFR/D
18328
 Roslin AVE  $894,000  $    517.96
 4/3,0,0,0 1726/B 1949/ASR
SFR/D
4345 W
 190th ST  $985,000  $    321.90
 4/4,0,0,0 3060/A 2006/ASR
TWNHS/A
2052
 Artesia  $520,000  $    448.28
 2/2,0,1,0 1160/A 2001/ASR
SFR/A
2603 W
 166th PL  $605,000  $    395.68
 4/1,1,0,0 1529/A 1955/ASR
SFR/D
2502 W
 170th ST  $625,000  $    520.83
 3/2,0,0,0 1200/A 1955/ASR
SFR/D
2618 W
 180th ST  $645,000  $    338.23
 4/3,0,0,0 1907/A 1956/ASR
SFR/D
18902
 Haas AVE  $680,000  $    406.94
 3/2,0,0,0 1671/A 1951/ASR
SFR/D
16403
 Wilkie AVE  $689,000  $    662.50
 3/1,1,0,0 1040/A 1951/ASR
SFR/D
2418 W
 180th PL  $710,000  $    584.36
 3/1,1,0,0 1215/A 1956/ASR
TWNHS/A
17510
 Van Ness Avenue #5  $795,000  $    461.14
 3/2,0,2,0 1724/B 2018/BLD
TWNHS/A
17508
 Van Ness Avenue #4  $800,000  $    464.04
 3/2,0,2,0 1724/B 2018/BLD
2454
 Del Amo BL      $    805.00
 1/1,0 650/A 1948
TWNHS/A
2160
 Plaza Del Amo #178  $560,000  $    368.42
 3/2,0,1,0 1520/A 1979/PUB
TWNHS/A
2714
 Cabrillo AVE  $677,500  $    410.61
 2/2,0,0,1 1650/A 2006/ASR
TWNHS/A
813
 Van Ness AVE #B  $689,000  $    490.04
 3/3,0,0,0 1406/A 2000/ASR
TWNHS/A
2444
 Cabrillo AVE  $695,000  $    566.42
 2/2,0,1,0 1227/D 2018/BLD
SFR/D
1308
 Cota AVE  $700,000  $    628.93
 2/1,1,0,0 1113/A 1926/ASR
TWNHS/A
1800
 Oak St. #519  $705,000  $    473.15
 2/2,0,1,0 1490/A 2007/ASR
TWNHS/A
1800
 Oak ST #103  $760,000  $    383.84
 2/2,0,1,0 1980/A 2007/ASR
SFR/D
23305
 Huber AVE  $740,000  $    439.43
 3/2,0,0,0 1684/A 1948/PUB
SFR/D
1846
 Reynosa DR  $765,000  $    467.03
 4/2,0,0,0 1638/A 1948/ASR
SFR/D
2218 W
 229th PL  $795,000  $    388.18
 3/3,0,0,0 2048/A 1962/ASR
SFR/D
2155 W
 235th PL  $927,900  $    388.89
 4/3,0,0,0 2386/A 1974/ASR

As Interest Rates Rise….how Does it Impact Torrance Home Buyers?

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Many prospective home buyers are concerned with rising interest rates.  While the Torrance interest rates in 2018 are still historically very low, the concern is justified.  Higher interest rates mean reduced buying power.  With every slight rise in interest rates, the monthly payment increases reducing the price of a home that a buyer can qualify for.  See the chart below for an idea of how different interest rates impact monthly payment and what a buyer’s income needs to be to qualify.

Interest rate impact infographic

Historical Interest Rates since 1972

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Many Torrance CA buyers are concerned with interest rates rising with the Fed making it clear that rates will slowly increats.  That’s certainly a valid concern for potential Torrance homebuyers as a higher interest rate means a higher monthly payment which most often means a lower priced home.  Taken in historical standpoint the current rates are dramatically lower than at just about any other time.  The chart below shows the interest rate on conventional and conforming 30 year fixed rate mortgages.  As we’ll see we’ve basically seen rates drop consistently since the high water mark of 16.3% in 1981.  It certainly makes todays current rate in the mid 4% range seem pretty enticing.

The Incredible California and Torrance Real Estate Market

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California real estate is absolutely incredible and the markets in the South Bay and Torrance is even more frenzied.  According to the CAR 2017 annual housing survey 60.4% of all homes listed received multiple offers and 32.9% sold over the list price!  Click here to see the latest Torrance real estate statistics including prices, days on market % of list price homes are selling for and more.