Is Torrance, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Torrance has remained a Seller's Market.
Key Takeaway
Torrance is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Torrance, CA
How much do homes in Torrance, CA cost?
Median Sold Price
$1,001,357
$681/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Torrance have sold for 6.4% less than they did a year ago.
Summary: The median home sold price in Torrance was $1,001,357 in April 2024, down 6.4% from last year, and the median price per square foot was $681.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $482.5K | $425.5K | -11.8% |
| 2 Bedrooms | $772.5K | $712.5K | -7.8% |
| 3 Bedrooms | $1.0M | $1.0M | -6.4% |
| 4 Bedrooms | $1.2M | $1.3M | +2.7% |
| 5+ Bedrooms | $1.6M | $1.5M | -6.4% |
Summary: Torrance housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 11.8%, 2 bedroom homes decreased by 7.8%, 3 bedroom homes decreased by 6.4%, 4 bedroom homes increased by 2.7%, and 5+ bedroom homes decreased by 6.4%.
Median Sold Price Compared To Nearby Cities
| Redondo Beach | $1.4M | $1.4M | +2.8% |
| Lomita | $835K | $858.5K | +2.8% |
| South Bay Cities | $1.7M | $1.7M | -2.1% |
| Rolling Hills Estates | $1.7M | $1.7M | -4.9% |
| Torrance | $1.0M | $1.0M | -6.4% |
Housing Supply in Torrance, CA
How many homes are available in Torrance, CA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 285 | 273 | -4.2% |
Summary: The Torrance real estate market had 273 homes for sale in April 2024, a 4.2% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 18 | 21 | +16.7% |
| 2 Bedrooms | 49 | 47 | -4.1% |
| 3 Bedrooms | 129 | 113 | -12.4% |
| 4 Bedrooms | 70 | 71 | +1.4% |
| 5+ Bedrooms | 19 | 21 | +10.5% |
Summary: The Torrance housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 16.7%, 2 bedroom homes decreased by 4.1%, 3 bedroom homes decreased by 12.4%, 4 bedroom homes increased by 1.4%, and 5+ bedroom homes increased by 10.5%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 91 | 105 | +15.4% |
Asking Price vs. Sold Price
31 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
62 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Torrance, you could pay more than the asking price. 59% of homes here sold above asking price last month.
Summary: A total of 105 homes were sold or pending in Torrance in April 2024, up by 15.4% month-over-month. Of the 105 sold homes, 30% were sold under asking, 11% were sold at asking, and 59% were sold over asking.
Days on Market for Torrance, CA
How long does it take to sell a home in Torrance, CA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 22 Days | 19 Days | -13.9% |
Summary: Homes in Torrance had an average of 19 days on market in Apr 2024, down by 13.9% compared to last year.
Breakdown of Home Sale Times
86 Homes Were Sold
Under 30 Days
16 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Torrance are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 105 homes were sold in Torrance; 82% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.