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Sotheby’s Announces their Top Agents for 2018

 Vista Sotheby’s International Realty, one of the top real estate brokerages for Torrance, Redondo and the entire South Bay, just recently announced their top 25 agents for 2018 . Torrance/Redondo Beach real estate specialist Keith Kyle was named as one of the highest producing realtors for the year.  We are proud to, once again, be named to the list of top producing agents at Vista Sotheby’s International Realty.   We wanted to thank all of our friends and clients for putting their trust in us and hope we can earn your trust as well.

Sotheby's Top Realtors in the South Bay

Keith has been a full time licensed realtor since 2005 and has been recognized as a “top producer” at both South Bay Brokers and Vista Sotheby’s since 2007. See Keith Kyle’s bio and background information on our about your realtor page.

in Listing Agents, Real Estate Market, South Bay Brokers, Torrance Real Estate, Torrance Realtors Posted by Keith Kyle

Torrance Real Estate Recap – 2018 Year in Review

By Keith Kyle

2018 was a banner year for real estate in Torrance CA. Demand was extremely high and prices continued to rise throughout the year with a slight drop towards the winter months which is not unusual.  The number of homes for sale really ramped up after spring from a low of 76 homes on the market in January to a high of 167 homes for sale in July.  There were 1,195 residential “on market” home sales in Torrance for the year.  These statistics do not include the homes in the Hollywood Riviera with Redondo mailing address but actually in Torrance.

Homes Selling At or Above Asking Price

One extremely impressive indicator of just how strong the market remained through the year was the % difference between list price and sold price (how close the sellers were to full asking price).  In seven of the months the average home sold at, or above the average list price and in the remaining 5 months they were within a percent or 2 of full list price.  That’s a sign of an extremely seller friendly market.

See the current homes for sale in Torrance

Days on Market Very Low

Another solid indicator was the average days on market with only topped 30 days once….in January of 2018.  Median prices for the year generally overed between $700,000 and $800,000.

Date January February March April May June July August September October November December
For Sale 76 78 88 111 144 149 167 165 149 164 165 119
New Listing 94 104 121 147 147 163 162 146 110 136 103 59
Sold 59 52 97 95 110 115 131 135 112 112 97 74
Pended 72 86 104 107 113 135 124 136 95 101 85 85
Avg. Active Price  $757.000  $749.000  $815.000  $820.000  $814.000  $780.000  $819.000  $809.000  $ 803.000  $771.000  $727.000  $724.000
Avg. Sold Price  $714.000  $739.000  $709.000  $739.000  $806.000  $747.000  $715.000  $721.000  $765.000  $744.000  $735.000  $766.000
Avg. Sq. Ft. Price (Sold) 488 484 484 483 503 504 482 495 497 469 495 494
Sold/List Diff. % 100 101 102 102 102 101 101 100 100 99 99 100
Sold/Orig LP Diff. % 99 100 101 101 102 101 100 99 100 98 98 98
Avg Days on Market 34 26 22 22 19 20 23 21 25 30 27 29
Median Sold Price 700,000 705,000 690,000 740,000 800,000 732,000 695,000 735,000 743,000 716,000 710,000 758,000
in Buyers, Home Prices, Homes for Sale, Real Estate Market, Real Estate Trends, Torrance Real Estate, Torrance Realtors Posted by Keith Kyle
Torrance homes for sale sign

State of the Torrance Real Estate Market Heading into 2019

Torrance Real Estate Trends

**See updated information on 2020 real estate in Torrance Torrance is far more than one uniform real estate market.  With neighborhoods that range from sub $500,000 to homes in the multi millions, each area has it’s own localized market. Visit Torrance Real Estate for more information on the community and market in Torrance CA In general the real estate market seems to be slowing down heading into 2019.  Demand is cooling with higher interest rates and a fairly regular slow down this time of year when people are busy with the holidays.
According to Torrance realtor Keith Kyle, “It’s clear that the market is cooling off as there has been an increase in new listings coupled with fewer sales and homes going into escrow since summer.”  The chart above shows that the number of active listings has held pretty steady between 150 and 170 since summer, but the number of sold homes as well as new escrows has continued to decrease.  If this trend continues the market will shift more in favor of buyers and less in favor of sellers.  It’s clearly been a sellers market over the past few years. The chart below shows the upward trend over the past few months with avarage “months of inventory” of unsold homes on the rise.
in Home Prices, Homes for Sale, Real Estate Market, Real Estate Trends, Torrance Real Estate Posted by Keith Kyle

Schools are Very Important to the Torrance Real Estate Market

It’s no real secret that good schools help drive real estate values in certain neighborhoods and communities.  Buyers with kids want to be in areas with good schools and that higher demand helps keep values up.  Even those without kids greatly benefit from a strong school system.  The stronger the schools the more insulated a market is from any downturns.  That was very evident in Redondo Beach that saw home prices drop during the recession and housing crisis, but only a very small amount compared with other local areas that do not have as strong a school system.

A recent CAR study showed that 47% of home buyers said good schools were very importan, 23% said that they were somewhat important, 11% said not very important and 19% said that it was not important at all.

The 19% may not realize just how much of an influence schools play on values and demand.  Good elementary schools are often part of a good community and without question most buyers would like to live in a good community.

The Torrance Unified School District is highly ranked and that creates a very high demand, especially for families thinking of living in this coastal community.

The study also conclued that 43% of consumers age 34 or under believe highly rated schools are very important.  58% of consumers earning more than $100,000 a year think that highly rated schools are very important.

in Home Prices, Real Estate Market, Torrance Real Estate, Torrance Schools Posted by Keith Kyle
Redondo Beach pier sunset

Just Listed in Redondo Beach Oceanview Studio in The Village

UPDATE – This home has been sold but there are other units for sale.  Visit the homes for sale in The Village Redondo Beach for updated listings.

610 The Village #202 Redondo Beach CA

  • Well priced at $460,000
  • 410 foot studio with 1 full bath
  • Ocean view condo
  • Community ammenities included multiple pools and spas, market/restaurant, fitness center, bbq areas and decks
  • Low HOA of $265 a month

Welcome home to this luxury retreat and live the vacation lifestyle! This beautifully remodeled condo is the ideal beach retreat and the community offers multiple pools and spas, oceanview deck, bbq area and access to the neighboring resort style pool, state of the art fitness center and market/restaurant. Perfect for those looking to buy instead of rent, those looking for a second home just seconds from the beach, and those that travel often and are looking for the perfect place to come home after a trip and sit back and relax…..610 The Village #202 is an ideal fit. Located just east of King Harbor and the Redondo Pier, this beautiful and rare ocean view studio is central to everything in the South Bay. The home was recently upgrated with granite counters, new stainless appliances, recessed lights, crown molding, new sliders to the patio, new carpet and new paint. Bathed in natural light the home feels much larger than the typical studio and much larger than the square footage would indicate. Enjoy beach breezes and ocean views from the home or the private balcony or head out for a stroll on the pier or along the beach.

Contact listing agent Keith Kyle with Vista Sotheby’s International Realty for more information or to set up a private showing.

in Homes for Sale, Real Estate Market, Realtor Keith Kyle, Redondo Beach, Redondo Beach homes for sale, Remodeled Homes, Vista Sotheby's International Posted by Keith Kyle

How Do Torrance Buyers Choose a Neighborhood

Just as every community is different…..every home buyer is different as well.  A recent survey provided some insight into California home buyers.  See what is important to home buyers in Torrance and CA according to a recent CAR survey.

Here’s some of what home buyers look for when choosing a neighborhood.

  • 25% wanted a home close to friends and family
  • 24% wanted a short commute
  • 20% wanted homes in a specific school district

See the chart below for some other important details when choosing a neighborhood.

How do buyers choose a neighborhood

in Homes for Sale, Real Estate Market, Real Estate Trends, Torrance Real Estate Posted by Keith Kyle