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When Days on Market Doesn’t Necessarily Represent the Days on Market

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By Keith Kyle

I’m sure most MLS systems are different but here in the South Bay the days on market on the CRMLS can be a bit misleading.  Many buyer and agents use days on market as a negotiating tool….the longer the home has been on the market, the more leverage the buyer has to come in low or negotiate other favorable terms.

The problem is that days on market doesn’t always indicate just how long the home has been available and is not necessarily indicative of “active” status.  As realtors when our clients accept an offer we have the option of changing the status to “pending” or “active under contract”.  Pending stops the days on market from accruing, but active under contract does not.  A home can go into escrow on day one, change the status to active under contract (again meaning it’s in escrow) and if it falls out of escrow 20 days later the days on market for the home will show 20.  It’s very misleading as the home has not been available for those 20 days and now puts the seller and listing agent at a disadvantage…..even though it sold the first day.

The other aspect that leads to misinformation is that with this days on market accruing on many home, it does not allow for an accurate picture of the market.  For instance a certain area of town or city itself may show an average days on market for a certain month to be one thing….when many of those homes were not actually available.  It may show days on market at 45 when the reality is that the homes in the community actually go into escrow after 30.

It’s a problem that needs to be addressed as it can change perceptions….both on an individual home and the market in general.

North Torrance West Real Estate Statistics

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By Keith Kyle

As knowledge is critical in real estate, we hope that the information provided below will make the real estate market in the North West areas of 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.

View the current North Torrance – West Homes for Sale

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 North Torrance West. 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 North 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.


CURRENT NORTH TORRANCE WEST HOMES FOR SALE
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Old Torrance Real Estate Trends and Statistics

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When buying or selling homes in 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 Torrance home. The information below is intended to help you get a better understanding of what is happening in the market.

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.

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.

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.

Average price for listed home sales in relation to the average price for sold homes.

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

Walteria and Victoria Knolls Torrance Real Estate Market Trends

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When buying or selling homes in the Walteria and Victoria Knolls neighborhoods of 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  home. The information below is intended to help you get a better understanding of what is happening in the market. Sitting just east of the Hollywood Riviera and South Torrance, Walteria is a very community oriented area with most homes within walking distance to local schools, homes with appropriate sized lots and tree lined streets.  To see the actual prices and homes sold in Torrance last month visit our recent home sales page.

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

Real Estate Market Trends for Southwood Torrance

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When buying or selling homes in the Southwood neighborhood of 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 Southwood home. The information below is intended to help you get a better understanding of what is happening in the market.  Sitting just east of Redondo Beach and in between the Torrance neighborhoods of South Torrance and West Torrance, Southwood is a very community oriented area with most homes within walking distance to local schools, homes with appropriate sized lots and tree lined streets.

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

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