Torrance Real Estate Market Report 2021 vs. 2020
Torrance CA real estate market was characterized by higher home prices and increased sales. The homebuyer demand continued to exceed the supply of houses and condos. It resulted in sellers receiving multiple offers and pushing prices up. Another contributing factor were low mortgage interest rates and expectations of rate increases in 2022.
Total of 952 single family homes were sold in 2021, 23 percent increase on y-o-y basis. Median price was $1,037,000 compared to $899,450 a year ago. Below are market details (single family homes only; data based on CRMLS):
|No. of Sales||952||774||+23%|
|Days on Market||15||21||-6 days
Torrance California real estate is projected to quite similar in 2022. The low inventory, homeowners staying put, will continue to push home prices up.
Real estate is local - every neighborhood or community is different. If you're considering selling your home, Contact us and we'll provide you with a free local market report and free home evaluation. Call (310)918-5027 to set up a no-obligation consultation.