Torrance CA Market Report for May 2024 

Torrance CA Market Report

Torrance CA market remains strong with higher home sales and rising home prices. Torrance CA is in the seller's market due to the very low inventory and strong buyer demand despite high interest rates..  Home sales are up in most categories, the prices are higher when compared to a year ago. Home prices are are also higher on the month-to-month basis. See our previous Torrance and Redondo Beach monthly reports to compare numbers on the month to month basis. Higher interest rates have impacted buyers but the low inventory dampens their impact on home prices. Homeowners are hesitant to put their houses on the market and give up their low mortgage interest rates. 

Average single family home price went up by 14 percent compared to a year ago; median price was up by 9 percent. Home sales were up by 7 percent. Prices of condos and townhomes also went up. See below for detailed information and market data.

You may create your own market report for any market, city, zip code, area, property type, save and receive email update. It'll help you to be current with your area market conditions. These reports can be helpful if you're either a buyer or a seller in South Bay LA. Call us at (310)918-5027 with any questions.

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TORRANCE

Single Family Homes

Torrance May 2024 May 2023 Difference
No. of Sales 60 56 +7%
Average Price $1,271,470 $1,013,489 +14%
Median Price $1,200,000 $1,105,000 +9%
Avg Days on Market 14 13 +2 days

 

Condos and Townhomes

Torrance May 2024 May 2023 Difference
No. of Sales 28 20 +40%
Average Price $781,089 $676,850 +15%
Median Price $700,000 $627.000 -4%
Avg Days on Market 21 19 + 2 days

 

Torrance Market Report in Real Time

Every market is different, sometimes a couple of blocks make a difference in valuation.  Contact us at (310)918-5027 for your Free home evaluation or click below to get an instant report:

torrance home evaluation

 

Torrance CA Market Report for May 2024