What is Happening in the Torrance Real Estate Market?

By
Real Estate Agent with Vista Sotheby's International 0171785

Just like all cities and towns, the coronavirus uncertainty has impacted the real estate market in Torrance California.  We didn't see too much of a change in March, but we definitely started to see a real slow down in April.    Although Torrance and the South Bay is more insulated from dramatic shifts than some other areas, there's no doubt it's playing a large role in the current market. 

April saw the fewest number of pending home sales in over 7  years with only 45 homes going into escrow.  Compare that with 110 pending sales a year earlier and it's pretty clear we're entering a much slower market.

View the current homes for sale in Torrance

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 of homes in Torrance CA. 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

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Topic:
Real Estate Market Trends
Location:
California Los Angeles County Torrance
Tags:
torrance real estate
torrance homes for sale
torrance real estate market
coronavirus and torrance real estate

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Rainer
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Tracy Hawke, The Woodland Companies!
Woodland Management Service - Minocqua, WI
Wisconsin Forest Land Experts!

Thanks for the update on this community, all the best to you as you get many of these properties listed and sold.

Tracy

May 18, 2020 12:13 AM #1
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Keith Kyle

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