Home Prices Increased in Torrance

Torrance real estate market in the first quarter - average home selling price, number of sales. Market overview compared to last year.

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Home Prices Increased in Torrance

Posted by Krystyna Baty on Friday, April 17th, 2015 at 9:44am.

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 info@isellsouthbay.com today!

Krystyna Baty, experienced real estate broker, is committed to the highest standards of professional service for all your South Bay Real Estate needs. I pride in getting top dollar for our home sellers in the least amount of time. For our home buyers my team employs our extensive knowledge and experience to find the perfect home. If you would like more information in regards to buying or selling a home, please email or call me at (310)918-5027 today!

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