TORRANCE REAL ESTATE MARKET IN 2015 VS. 2014
2015 is over.. it's time to reflect and plan... Torrance is one of the largest markets in South Bay. It's located close to LA and major job markets. It's known for safe neighborhoods, rising property values, excellent schools and beautiful beaches. I ran several reports today to see how our Torrance real estate market in 2015 compared with the previous year. We all knew that home prices jumped but how much exactly? The inventory was pushing prices up but restricting the number of sales.
Here is the summary of sales, average selling prices, days on market, lowest sold house, highest sold... This report is limited to single family homes sold in proper Torrance (no Torrance PO) in order to better show the averages. Data is based on CRMLS records.
TORRANCE 2014 2015
No. of sales 683 726
Avg selling price $705,326 $742,160
DOM 48 46
Total of 6726 houses were sold in Torrance n 2015 compared with 683 sold previous year. Average selling price was higher by 5% last year and it was $742,160. It was $705,326 in 2014. Days on the market was 46 on average. Highest single family home sold at $2.5M, lowest $385,000 compared with $2.2M and $315,000 in 2014.
What will 2016 bring? Stay tuned for my monthly and quarterly Torrance market reports. My Torrance real estate webpage shows all current Torrance listings and running data and stats.
If you're thinking about selling your home, contact me at (310)918-5027 anytime for a Free home evaluation or fill out the short form below:
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