TORRANCE 1ST QTR REAL ESTATE REPORT
Home prices increased in Torrance by 7% in the first quarter of 2015. Average single family home sold for $688,959 compared with $644,564 in 2014 between January - March. The inventory problems, low number of available homes, better economic environment, low interest rates, pushed home prices up in the first months of this year. I looked at singles family homes only (condos excluded), since it's a better indicator of the market (Torrance PO excluded).
|Jan - March||2014||2015||Diff.|
|Number of Sales||167||148||-11%|
|Average Selling Price||$644,564||$688,959||+7%|
*data from CRMLS
Inventory of homes for sale in Torrance is still low. Currently, 65 houses are available, 105 are pending (under contract).
Torrance real estate remains a hot seller market. Most homes sell quickly, often attracting multiple offers. Market is rebounding with prices projected to continue to rise. Low interest rates make this market more affordable. The affordability will decline with interest rates which are projected to go up.
Contact Krystyna Baty, your Torrance expert, with any real estate questions, get your home evaluation Free and find out if this is a good time to sell. Call (310)918-5027 or e-mail firstname.lastname@example.org today!