How is the Torrance market? Both real estate sellers and buyers often ask this question. I hope my monthly report will help answer this important question and assist you in deciding if this is a good time for you to buy or sell homes or their real estate investment properties in the Torrance CA area.
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Torrance CA homes prices rose again in February. Average selling price went up from $596,946 last year to $650,878 this year - which is the 9% price increase y-o-y. Interest rates are still very low, around 4%, helping home buyers and investors. Low inventory of available homes for sale in Torrance CA continued to put pressure on prices, limiting the number of sales. Below I provided the stats and graphs to illustrate the Torrance real estate market in detail. As of today, there are 164 residential properties homes on the market in Torrance. The lowest home is listed at $189,000 and the highest at $2.45M, average listed price - $735,796. This portraits the wide range of homes for sale in Torrance, from the ocean view Hollywood Riviera estates to entry level condos.
Torrance Real Estate Market Report Summary
Total of 81 homes sold in Torrance CA in January '17 compared with 78 sold a year ago. Average sale price was $699,682 compared with $651,338 a year ago, which represents a 7% price increase. The lowest sold price was $199,000; the highest was $2.1M. Average DOM (days on market) was 41 days compared with 67 days in January 2016.
Real Estate Statistics Today
|Highest Listing Price:||$2,488,000|
|Lowest Listing Price:||$189,000|