Torrance home prices rose by 9% in the third quarter, when compared with the same period last year. Torrance homes prices rose every month this year. It's certainly a good news for the home sellers. Contact us to get your home evaluation and find out how much you could sell your Torrance house for in today's market. Below is the full quarterly report.
Average selling price went up from $652,023 in the 3rd quarter last year to $709,955 this year - 9% price increase y-o-y. Interest rates remained very low, around 4%, so buyers and investors have been taking advantage of the low cost home loans. Low inventory of available homes for sale in Torrance CA continued to put pressure on prices, limiting the number of real estate sales. Below are the stats and graphs to illustrate the Torrance real estate market, price trends, inventory in detail. As of today, there are 154 homes on the market in Torrance. The lowest home is listed at $199,000 and the highest at $2.75M, average listed price - $724,377. This illustrates the wide range of homes for sale in Torrance, from the ocean view Hollywood Riviera houses to entry level condominiums.
Torrance Real Estate Market Report Summary
Total of 993 homes sold in Torrance CA in 3rd Qtr '17 compared with 1031 sold a year ago. Average sale price was $709,955 compared with $652,023 12 months ago, which represents a 9% price increase. The lowest sold price was $179,000; the highest was $2.3M. Average DOM (days on market) was 26 days compared with 51 days.
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