Torrance CA Market Report - December 2020
Torrance CA real estate market can be described as "hot" and "seller's market" with low inventory pushing home prices to record levels. Despite the economy uncertainties, buyers take advanced of the historically low interest rates, are often competing for properties, outbidding one another.
Currently in Torrance, the average cost per sq ft is $492; average listing price is $996,752.
Average sales price in the last 6 months was $853,317, average price per sq foot was $537. Homes stayed on the market 29 days on average.
View Detailed Torrance Market Report below:
Low inventory and strong demand in Torrance CA are pushing prices at a faster pace than household income growth in the area. This negatively influences affordability. Only time will tell how the uncertain political and economic environments at home and abroad will influence mortgage interest rates and the economy in the coming months. Stay tuned...
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