Torrance had a huge month in terms of both home sale and prices. 122 homes and properties sold during the month which was a record number for the past few years. The median sales price was $877,000 and a very short 24 days on market before going into escrow.
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way down with only 49 total on market closed escrows. Compare that with 123 home sales in May of 2019 and it’s hard to dispute that the concerns and uncertainties of the coronavirus hasn’t had a major impact. That being said the prices were very impressive indicating a very strong seller’s market. One very interesting number was pending home sales.
than some other areas but there’s no doubt it’s playing a large role in the current market. April saw the fewest number of pending home sales in the past few years with only 45 homes going into escrow. Compare that with 11 pending sales a year earlier and it’s pretty clear we’re entering a much slower market.