By Keith Kyle
The housing inventory in Torrance, CA is continuing to shrink with the number of available homes for sale decreasing every month since July of 2014. The first half of 2014 saw a month over month increase in the available homes peaking in the busy summer buying season but that momentum didn’t last. The peak month of July saw 232 homes available which has gone down every month since. As of this post there are currently 151 homes currently on the market in the South Bay’s largest city. The chart below shows the monthly numbers for active homes for sale (light green) current escrows (red line) and closed home sales (dark green). Please don’t hesitate to contact us with any questions about the market or to receive an updated list of the current homes for sale.
Redondo Beach and the proximity to the ocean means milder weather and great ocean breezes that other parts of the city don’t enjoy. Comprised mainly of 1940s and 1950s beach style bungalows, the area is still more affordable than some of the nearby beach cities while still having a certain charm lost in some of these other areas with oversized homes, makes a statement type architecture and over development. Some homes have gone the route of maximum square footage, but the majority still look like homes that belong in the neighborhoods and give homeowners a bit of space and separation. Although prices are still below neighboring South Redondo, they have risen dramatically in the past 2 years with most original smaller 3 bed/1 bath homes starting in the mid to low $600’s for fairly original, but nice condition, and the larger 3 bed/2 bath 1400 foot (many homes added a family room accounting for the extra square footage) selling anywhere from the mid to low $700s up to the low $900’s depending on location and condition.