When buying or selling homes in Torrance, knowing and understanding the real estate market is critical to making the right decision. Real estate trends can help determine current values or even when the appropriate time to list and sell your Torrance home. The information below is intended to help you get a better understanding of what is happening in the market.
Number of active listings (light green) sold homes (dark green) and pending home sales (red line)
The greater the discrepancy between active homes and sold homes indicates a buyers market and when the numbers are closer a sellers market is indicated as inventory is down.
Average price per square foot.
Square footage in the South Bay often doesn’t mean as much as in other markets as values can vary so dramatically due to things such as proximity to the beach, views, specific neighborhoods.
Average days on market per month as well as the % of list price that homes sold at.
A high % indicates a sellers market as home sell at, or above list price.
Average price for listed home sales in relation to the average price for sold homes.
Months of home inventory based on closed home sales.
Buyer’s market: more than 6 months of inventory Seller’s market: less than 3 months of inventory Neutral market: 3 – 6 months of inventory