Townhomes for sale - 2209 Nelson

Torrance Home Inventory Continues to Decline in Early 2015

By Keith Kyle

Townhomes for sale - 2209 Nelson
2209 Nelson

The housing inventory in Torrance, CA is continuing to shrink with the number of available homes for sale decreasing every month since July of 2014.    The first half of 2014 saw a month over month increase in the available homes peaking in the busy summer buying season but that momentum didn’t last.  The peak month of July saw 232 homes available which has gone down every month since.  As of this post there are currently 151 homes currently on the market in the South Bay’s largest city.  The chart below shows the monthly numbers for active homes for sale (light green) current escrows (red line) and closed home sales (dark green).  Please don’t hesitate to contact us with any questions about the market or to receive an updated list of the current homes for sale.

 

Neighborhood Spotlight – Southwood

Sitting between West Torrance and South Torrance is the wonderful neighborhood of Southwood.  This small area also sits just east of Redondo Beach and the proximity to the ocean means milder weather and great Southwood Torrance Homesocean breezes that other parts of the city don’t enjoy.  Comprised mainly of 1940s and 1950s beach style bungalows, the area is still more affordable than some of the nearby beach cities while still having a certain charm lost in some of these other areas with oversized homes, makes a statement type architecture and over development.  Some homes have gone the route of maximum square footage, but the majority still look like homes that belong in the neighborhoods and give homeowners a bit of space and separation.  Although prices are still below neighboring South Redondo, they have risen dramatically in the past 2 years with most original smaller 3 bed/1 bath homes starting in the mid to low $600’s for fairly original, but nice condition, and the larger 3 bed/2 bath 1400 foot (many homes added a family room accounting for the extra square footage) selling anywhere from the mid to low $700s up to the low $900’s depending on location and condition.

What makes the area so special is the community feel, with an abundance of parks, dog parks and schools all within walking distance.   A quick drive down just about any street says it all with pride of ownership being quite apparent.  Manicured lawns, updated homes, tree lined streets and an abundance of neighbors walking the area makes for a great atmosphere.  Contact us if you are interested in learning more about Southwood or would be interested in receiving free email updates with the latest listings.

Current Southwood homes for sale

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Will Overpricing Help Slow the Market Down?

By Keith KyleTorrance Homes

I’ve noticed an early January trend in some of the local markets as many homes now seem to be listed at prices that recent sales just don’t seem to justify. Will this overpricing help slow the market down a little as we’re starting to see some homes sit on the market and even eventual price reductions.

We’ve seen the market increase in value dramatically in the past 12 months with values generally rising each month but since late November we seem to be seeing more homes priced well above the current market and well above the pricing trend. Only time will tell what 2014 has in store in the Beach Cities real estate market but as perception is such a real part of real estate, buyers now seeing homes sit on the market without selling may mark the beginning of a slow down.