Although this is likely to change given the challenges of Covid 19 and it’s impact on local real estate, the beginning of 2020 has seen a big
jump in pending home sales in Torrance. December of 2019 saw a multi year low, due primarily to the very low number of available homes for sale. That has changed dramatically since the new year, however…..pending homes sales have gone from 49 in December to, 83 in January to 124 in February (March numbers should be coming soon).
What’s happening in the Torrance Real Estate Market?
Take a look at the charts below to get a better understanding of what’s happening in the Torrance real estate market. We hope that getting an awareness of what the real estate market has been doing for the past 18 months can help make you a knowledgeable home buyer or seller in this great city. See the current homes for sale in the various neighborhoods of Torrance.
For Sale, Sold and Pending Sales in Torrance CA
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
State of the Torrance Real Estate Market Heading into 2019
**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.
What makes the Torrance real estate market so unique in the South Bay?
By Keith Kyle
People often think of the South Bay as one large market but each individual city can mean an entirely different real estate market….just take a look at the monthly median home prices in the South Bay as an indication.
Each city is it’s own real estate market but Torrance is different. As Torrance is the largest city in the South Bay it’s also the most diverse. That’s especially true in terms of real estate and home values in Torrance.
What make Torrance so different is the variety of areas, and the diversity of both the homes and the prices. Torrance is a city that has multi million dollar homes along the Bluff on Paseo De La Playa and also has some of the most affordable homes in all of the South Bay.
Search Torrance homes by area.
The sheer size of Torrance also makes a difference. Stretching all the way from the ocean to east of the 110 freeway makes for an abundance of options not possible in any other city in the area. This also allows for everything from single family homes, to condos to even co-ops (rarely seen in the South Bay).
It is definitely not a seen one seen em all type real estate market.
Torrance Home Inventory Continues to Decline in Early 2015
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.
- « Previous Page
- 1
- …
- 7
- 8
- 9