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Flipped Homes Becoming Commonplace in North Torrance

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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.

Torrance Sees Gain in Home Prices for November 2014

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It’s clear that the real estate market slowdown for the holidays didn’t start in November.  At least not for the number of home sales and home prices in Torrance CA.  Torrance posted another strong month with 99 sold homes at a median price of $575,000.  To see the homes that sold in November visit our South Bay monthly home sales site.

City Homes
Sold		 November
2014 Median		 November
2013 Median		 Year
over Year % Change
Carson 44 $385,000 $337,500 14.07%
El Segundo 7 $853,000 $710,000 20.14%
Gardena 36 $394,000 $366,000 7.65%
Harbor City 16 $450,000 $343,750 30.91%
Hawthorne 35 $436,250 $465,000 -6.18%
Hermosa Beach 12 $1,050,000 $1,089,000 -3.58%
Lawndale 12 $432,500 $320,000 35.16%
Lomita 13 $490,000 $400,000 22.50%
Long Beach 262 $380,000 $365,000 4.11%
Manhattan Beach 40 $1,900,000 $1,987,000 -4.38%
Marina Del Rey 32 $822,100 $1,000,000 -17.79%
Palos Verdes Estates 21 $1,860,000 $1,300,000 43.08%
Playa Del Rey 18 $519,750 $525,000 -1.00%
Rancho Palos Verdes 34 $935,000 $1,010,000 -7.43%
Redondo Beach 66 $790,000 $720,000 9.72%
San Pedro 47 $462,000 $422,500 9.35%

Torrance

99

$575,000

$517,000

11.22%
Westchester 27 $805,000 $749,000 7.48%

Oh How Torrance Home Values Have Changed

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By Keith Kylepool-west-new

I received an odd phone call yesterday from a potential buyer that said she had been given a real estate flyer for a listing at 16808 Delia in North Torrance.  She said it was a well priced short sale and it was.  The only problem was that I sold this house at the beginning of 2012.  It had been a while since I thought of this house and upon pulling up the old listing I struck me just how dramatically the market has changed since then.  It was a very nice home, with a great yard and pool but unfortunately the owners were struggling and had to do a short sale.  We listed the home at $520,000 and it closed at $502,000.

What would it sell for now?

It would be just about impossible to find any single family home in that neighborhood, regardless of condition and size for that price in the current market.  That home that sold only 2 years ago would now sell for at least $750,000 which is simply incredible.  The speed with which the real estate market in Torrance and the South Bay was stunning and the changes to value equally unbelievable.

How Quickly we forget?

Another aspect of all this that struck me was just how short our memories can be.  Just 2 years ago there were so many homes with great prices and most buyers thought it would continue and go even lower.  These days the poor buyers that didn’t buy are priced completely out of neighborhoods that would have been very affordable.  The thought now is that it of course can only continue going up, but is that really the reality and has that much changed?  It’s certainly a great time to be a home seller, but not necessarily a great time to be a buyer.

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Median home prices near $600,000 for August 2014

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By Keith KyleCraftsman homes in Old Torrance 90501

August was yet another big month for home prices in Torrance and the South Bay with  average home prices continuing to rise and the busy summer season continuing at a fairly torrid pace. Home sales were down from July due to the continuing lack of homes for sale.  Click any city and month below to see the full list of homes sold.  Contact us for more information on any of the homes.

August 2014 saw a total of 117 homes sold, down from 142 in July.  Of the 117 homes sold, 82 were single family homes, 16 were townhomes, and 17 were condos.  In addition there were 9 income properties (duplex, triplex, etc.) sold  as well as.  Of the 117 4 were short sales or foreclosures showing that the foreclosure market continues to dwindle and is a non factor in the current housing market.  The median home price was $600,000 up from $540,000 the prior month.

 

July 2014 Median Home Prices in Torrance CA

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By Keith KyleWelcome home doorway

July 2014 saw some big numbers in terms of both number of homes sold as well as median prices.  Torrance CA  had 142 sold homes at a median price of $540,000 which was down from the same month in 2013.  Most other South Bay cities also saw some significant year over year increases in prices with the other exceptions being  Marina Del Rey and Playa Del Rey.  To see the actual homes sales in each city visit our recent home sales price and information site.

City Homes Sold July 2014 Median July 2013 Median Year over Year % Change
Carson 48 $382,500 $350,000 9.29%
El Segundo homes 15 $872,000 $797,000 9.41%
Gardena 50 $385,000 $332,500 15.79%
HarborCity 13 $480,000 $465,000 3.23%
Hawthorne real estate 51 $505,000 $400,000 26.25%
Hermosa Beach homes 26 $1,230,000 $1,097,500 12.07%
Lawndale 8 $412,000 $331,250 24.38%
Lomita 13 $555,000 $452,000 22.79%
Long Beach 330 $400,000 $365,000 9.59%
Manhattan Beach homes 43 $1,795,000 $1,521,250 18.00%
Marina Del Rey 33 $757,500 $862,500 -12.17%
Palos Verdes Estates 51 $1,600,000 $1,291,000 23.93%
Playa Del Rey 23 $507,000 $512,000 -0.98%
RanchoPalos Verdes 54 $1,069,000 $1,100,000 -2.82%
Redondo Beach homes 97 $865,000 $758,000 14.12%
San Pedro 49 $440,000 $420,500 4.64%
Torrance 142 $540,000 $576,250 -6.29%
Westchester 48 $777,500 $715,000 8.74%

Real Estate Micro Market Update – Southwood Torrance

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Southwood Torrance Real Estate Update

By Keith Kyle

The neighborhood of Southwood in Torrance CA is a fantastic area with tree lined streets with primarily single family homes and a great community feel. Prices in this neighborhood, located just east of Redondo Beach, have seen steady increases since the beginning of 2013 and doesn’t show any signs of slowing down. Here’s a quick recap of the current real estate market conditions in this Torrance neighborhood.

  • Active Southwood Torrance homes for sale – 8
  • Lowest list price – $485,000 – 5500 Torrance Blvd #C121
  • Highest list price – $1,199,000 – 21213 Anza Ave
  • Average list price – $753,713
  • Average price per square foot – $483.68
  • Average Days on Market – 35
  • In escrow – 8
  • Total homes sold in 2014 YTD – 20
  • Average sales price – $627,688
  • Average price per square foot – $474.73