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South Torrance Market Statistics from July 2007 to Sept. 2008

By Mary Thomas BH,MB,HB, PV, Estates LA+

Real Estate Agent with Remax Estates Properties DRE #0892215

October 15, 2008 12:58 PM

Here it is the sales from July of 2007 to September of 2008 in the South Torrance Area.

Stay tuned for next month when we see how and if the economic damage will affect the South Torrance Real Estate Market. Again, we are seeing buyers coming back into the real estate market realizing that a tangilbe item like property is the best investment.

Welcome Back...We just had a home sell in Walteria that had five offers on it and went from a asking price in the high $300K to a selling price well over $500K..I think that the interest rates are motivating buyers to start shopping...concerned that the rates will jump up after the election and they would like to lock in at a low rate now!!

Date	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	8/08	9/08
For Sale	19	25	25	23	20	20	21	24	25	23	23	32	30	31	27
Sold	13	8	3	5	4	4	8	0	10	5	6	3	2	3	5
Pended	5	4	6	2	6	4	3	6	4	5	6	3	5	4	6
Months of Inventory based on Closed Sales	1.5	3.1	8.3	4.6	5.0	5.0	2.6	n/a	2.5	4.6	3.8	10.7	15.0	10.3	5.4
Months of Inventory based on Pended Sales	3.8	6.3	4.2	11.5	3.3	5.0	7.0	4.0	6.3	4.6	3.8	10.7	6.0	7.8	4.5
Avg. Active Price	1124	1099	1080	1093	1026	982	970	927	931	985	882	871	871	938	970
Avg. Sld Price	834	830	715	842	771	763	934	0	797	722	668	687	654	649	645
Avg. Sq. Ft. Price	506	520	502	497	537	526	453	0	428	429	488	455	475	532	460
Sold/List Diff. %	98	99	100	98	95	101	94	0	96	97	98	99	96	95	98
Sold/Orig LP Diff. %	96	97	25	99	94	105	91	0	92	94	92	91	93	95	98
Days on Market	30	47	36	52	49	10	60	0	58	69	51	128	136	33	48
Avg CDOM	30	35	37	37	42	10	67	0	55	74	51	144	97	51	74
Median Price	758	727	712	835	773	708	782	0	775	740	664	700	655	582	610

*All reports are published Oct. 2008, based on data available at the end of Sep. 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.

Months of Inventory based on Closed Sales