By Keith Kyle
As knowledge is critical in real estate, we hope that the information provided below will make the real estate market in Old Torrance easier to understand and the trends can make for educated decisions. Whether you are a buyer, or a seller, knowing what the market is doing and where it appears to be heading can make all of the difference in the world. If we can be of assistance in any way please don’t hesitate to contact us. You can view these trends for all Torrance CA neighborhoods.
The chart below shows the recent history of the number of active listings, pending home sales and closed escrows. The higher ratio of active to sold/pending listings shows a buyers market while lower inventory shows a sellers market.
The chart below shows the average price per square foot in Old Torrance. This includes all types of homes including condos, townhomes and single family homes
The chart below shows the percentage of sold price / list price at which an equal number of properties are sold above, equal or below the list price and it indicates how long it has taken to sell those properties.
The chart below shows the difference between the average price for sale in Old Torrance and average price of the sold homes. It helps determine whether the market is a buyer or seller market. If the average listing price and average sold price are the closest, the area has the healthiest market.
The chart below shows the months of inventory for a particular month. As a rule of thumb, an inventory level of less than three indicates a strong seller market while an inventory level greater than six indicates a buyer’s market.