Torrance real estate is always pretty solid as there’s just so much demand for homes in the area. As the most diverse city in the area with the biggest variety of homes and price range, it also is a bit insulated from factors that might impact one specific type home or price point. Having said that the number of homes that have sold in May and April were dramatically down from the previous year. May saw a 60% drop in the number of homes that sold from a year earlier. May also had a very positive trend however with the number of pending home sales (homes in escrow) going from 45 in April to 100 in May which should indicate a big rebound in June and July closed sales.
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Compare that with Redondo Beach home sales and pending escrows for another idea of how quickly that’s rebounding. Redondo Beach saw 40 pending sales in April but only jumped to 55 in May. While Redondo Beach real estate is somewhat of a different animal, it does help show how strong the Torrance real estate market appears to be.
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.