Picture courtesy of Listing in Begonia Village Torrance
After analyzing the recent sales in the South Torrance area,I have found that the winning homes that are selling are homes in pristine condition, completely updated and like new.
11 homes sold this month
51 are currently for sale
7 are in escrow pending back up offers
Selling Prices ranged from $762,000 to 879,000.
Buyers are choosing homes that are in the best condition in this market. Homes that are not updated and that need work are unfortunately sitting in this market in the last 6 months.
It follow the market right now, since lenders are only making loans on a 700 fico score and above. Most buyers in the 800's are given a tight screening. I find that most clients with high fico scores that take pride in their credit and are usually perfectionistic with their home ownership. They expect the best and they want the best!!! So make your home the best and sell it fast for the best price in the Torrance market.
Consult a professional realtor if you are going to sell your home, guidance on how to and where to do a fresh update is a must in this 2008 market. Certain neutral colors are the best selling and homes that are staged are in the top running for the fastest sale and best price.
Location is also a must, South High and West High( South Torrance, Southwood, Walteria and South East Torrance are scoring high for sales.
I have included a chart below showing the recent market sales in South Torrance area, including Walteria and South Torrance.
| Date | 5/07 | 6/07 | 7/07 | 8/07 | 9/07 | 10/07 | 11/07 | 12/07 | 1/08 | 2/08 | 3/08 | 4/08 | 5/08 | 6/08 | 7/08 |
| For Sale | 35 | 37 | 38 | 48 | 49 | 50 | 40 | 31 | 39 | 42 | 40 | 36 | 39 | 44 | 51 |
| Sold | 12 | 13 | 19 | 13 | 6 | 7 | 6 | 8 | 12 | 2 | 11 | 9 | 8 | 9 | 11 |
| Pended | 8 | 16 | 10 | 5 | 6 | 2 | 13 | 7 | 2 | 12 | 9 | 8 | 10 | 12 | 7 |
| Months of Inventory based on Closed Sales | 2.9 | 2.8 | 2.0 | 3.7 | 8.2 | 7.1 | 6.7 | 3.9 | 3.3 | 21.0 | 3.6 | 4.0 | 4.9 | 4.9 | 4.6 |
| Months of Inventory based on Pended Sales | 4.4 | 2.3 | 3.8 | 9.6 | 8.2 | 25.0 | 3.1 | 4.4 | 19.5 | 3.5 | 4.4 | 4.5 | 3.9 | 3.7 | 7.3 |
| Avg. Active Price | 1032 | 1013 | 1046 | 1002 | 997 | 986 | 960 | 937 | 903 | 893 | 924 | 964 | 921 | 904 | 879 |
| Avg. Sld Price | 908 | 882 | 894 | 862 | 881 | 887 | 829 | 778 | 897 | 764 | 813 | 783 | 737 | 775 | 762 |
| Avg. Sq. Ft. Price | 485 | 425 | 430 | 438 | 441 | 455 | 406 | 448 | 411 | 428 | 373 | 402 | 404 | 405 | 368 |
| Sold/List Diff. % | 97 | 98 | 99 | 98 | 99 | 98 | 97 | 98 | 95 | 100 | 96 | 98 | 97 | 97 | 97 |
| Days on Market | 39 | 29 | 35 | 27 | 28 | 49 | 61 | 39 | 61 | 27 | 95 | 58 | 96 | 43 | 35 |
| Median Price | 848 | 879 | 849 | 770 | 830 | 859 | 773 | 742 | 782 | 764 | 810 | 745 | 742 | 762 | 750 |
| *All reports are published Aug. 2008, based on data available at the end of Jul. 2008. All reports presented are based on data supplied by the South Bay Association of Realtor or its MLS. Neither the Association nor its MLS guarantees or is in anyway responsible for its accuracy. Data maintained by the Association or its MLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed. |
Are you thinking about selling your Torrance home? Internet exposure and marketing has never been more important. Expansive internet exposure will drive many buyers to view your home. Hire an internet savvy Realtor. Consult Mary at 310-946-2205
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