Tag: torrance real estate
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 |
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.
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.
Torrance California Home Sales for October 2018
October was another solid month for home sales in Torrance with 112 home sales. The average listing price for the month was $748,206 with
the average sales price at $744,270. The median list price was $729,000 while the median sold price was at $715,875. The highest sale of the month was $1,750,000 for a 4 bedroom home in South Torrance in the Seaside Ranchos neighborhood at 5006 Sharynne and the lowest priced sale was a condo at $265,000.
See the current homes for sale in Torrance CA
October 2018 Torrance Home Sales
| Type |
|
Sq Feet | |||||
| SFR/D |
1554 W
|
220th ST | $ 479,000 | $ 665.28 |
1/1,0,0,0 | 720/A | 1924/ASR |
| SFR/D |
1626 W
|
214th ST | $525,000 | $ 713.32 |
2/1,0,0,0 | 736/A | 1951/ASR |
| SFR/D |
1456 W
|
223rd ST | $580,200 | $ 499.31 |
3/2,0,0,0 | 1162/A | 1944/ASR |
| SFR/D |
1527 W
|
213th ST | $585,000 | $ 565.76 |
2/2,0,0,0 | 1034/A | 1940/ASR |
| SFR/A |
1306 W
|
214th ST | $600,000 | $ 364.08 |
3/2,0,1,0 | 1648/A | 1959/PUB |
| CONDO/A |
1133
|
Sepulveda Blvd #202 | $340,000 | $ 427.14 |
2/1,0,0,0 | 796/A | 1973/ASR |
| CONDO/A |
1127
|
Sepulveda Blvd #L104 | $350,000 | $ 408.88 |
2/2,0,0,0 | 856/A | 1973/APP |
| CONDO/A |
20565 S
|
Vermont AVE #8 | $390,000 | $ 402.89 |
2/2,0,0,0 | 968/A | 1982/ASR |
| CONDO/A |
23314
|
Marigold AVE #S101 | $425,000 | $ 398.69 |
3/2,0,0,0 | 1066/A | 1973/ASR |
| CONDO/A |
22912 S
|
Vermont AVE #4 | $445,000 | $ 399.82 |
3/2,0,0,0 | 1113/A | 1973/ASR |
| CONDO/A |
22919
|
Mariposa AVE #801 | $450,000 | $ 381.36 |
2/1,1,1,0 | 1180/A | 2009/ASR |
| CONDO/A |
874 W
|
232nd ST | $475,000 | $ 348.50 |
3/2,0,0,0 | 1363/A | 1974/ASR |
| SFR/D |
22922
|
Doble AVE | $540,000 | $ 534.65 |
3/1,0,0,0 | 1010/A | 1953/ASR |
| SFR/A |
22912
|
Doble AVE | $575,000 | $ 429.10 |
4/2,0,0,0 | 1340/A | 1953/ASR |
| SFR/D |
21141
|
Broadwell AVE | $605,000 | $ 376.48 |
3/2,0,0,0 | 1607/A | 1954/ASR |
| SFR/D |
20963 S
|
Van Deene AVE | $615,000 | $ 488.10 |
3/2,0,0,0 | 1260/A | 1957/ASR |
| SFR/D |
808
|
Gian DR | $649,000 | $ 409.21 |
4/2,0,0,0 | 1586/A | 1968/ASR |
| SFR/D |
719 W
|
226th ST | $651,000 | $ 269.34 |
4/3,0,0,0 | 2417/A | 1968/ASR |
| SFR/D |
21430
|
Marigold AVE | $665,000 | $ 358.88 |
3/2,0,0,0 | 1853/A | 1959/ASR |
| CONDO/A |
24452
|
Ward ST | $700,000 | $ 510.95 |
3/1,1,0,0 | 1370/A | 1981/ASR |
| SFR/D |
3322
|
Dalemead ST | $750,055 | $ 702.96 |
3/1,0,0,0 | 1067/A | 1950/ASR |
| SFR/D |
3213
|
Dalemead ST | $840,000 | $ 787.25 |
3/1,1,0,0 | 1067/T | 1950/ASR |
| DPLX/D |
24240
|
Ocean AVE | $900,000 | $ 348.70 |
9/4,1,0,0 | 2581/A | 1955/ASR |
| SFR/D |
3200
|
Newton ST | $1,020,000 |
$ 447.37 |
4/2,0,1,0 | 2280/B | 1993/ASR |
| SFR/D |
2849
|
Windmill RD | $1,059,000 |
$ 511.10 |
4/2,0,0,0 | 2072/A | 1975/ASR |
| SFR/D |
25932
|
Richville DR | $1,305,000 |
$ 446.00 |
4/2,0,1,0 | 2926/A | 1956/ASR |
| COOP/A |
3110
|
Merrill DR #85 | $477,900 | $ 367.62 |
2/1,1,0,0 | 1300/E | 1964/ASR |
| COOP/A |
3210
|
Merrill DR #32 | $480,000 | $ 342.86 |
3/1,1,0,0 | 1400/A | 1963/ASR |
| CONDO/A |
2567
|
Plaza Del Amo#308 | $500,000 | $ 574.71 |
1/1,0,1,0 | 870/A | 1985/ASR |
| CONDO |
3520
|
Maricopa ST #5 | $520,000 | $ 389.22 |
2/2,0,1,0 | 1336/A | 1975 |
| TWNHS/A |
2800
|
Plaza Del Amo #266 | $655,000 | $ 514.53 |
2/3,0,0,0 | 1273/A | 1988/ASR |
| TWNHS/A |
3508
|
Del Amo Bl | $700,000 | $ 422.45 |
4/3,0,0,0 | 1657/A | 1974/BLD |
| TWNHS/A |
2300
|
Maple AVE #231 | $780,000 | $ 417.78 |
4/3,0,0,0 | 1867/A | 1987/ASR |
| TWNHS/A |
4312
|
Spencer ST | $880,000 | $ 359.77 |
3/2,2,1,0 | 2446/A | 1989/PUB |
| SFR/D |
902
|
Cerise AVE | $892,000 | $ 527.19 |
3/2,0,0,0 | 1692/A | 1951/ASR |
| SFR/D |
2623
|
Bayport DR | $940,000 | $ 370.96 |
4/2,0,1,0 | 2534/A | 1987/ASR |
| SFR/D |
3708
|
Michelle DR | $950,000 | $ 436.98 |
4/3,0,0,0 | 2174/A | 1969/ASR |
| CONDO/A |
24410
|
Crenshaw Bl #211 | $265,000 | $ 356.66 |
1/1,0,0,0 | 743/A | 1987/ASR |
| CONDO/A |
22911
|
Nadine CIR #A | $480,500 | $ 430.17 |
2/2,0,0,0 | 1117/A | 1963/ASR |
| CONDO/A |
23053
|
Nadine CIR #A | $510,500 | $ 457.03 |
2/2,0,0,0 | 1117/A | 1963/ASR |
| CONDO/A |
22927
|
Maple AVE | $544,250 | $ 562.82 |
2/2,0,0,0 | 967/A | 1963/ASR |
| TWNHS/A |
2992 W
|
235th ST | $730,000 | $ 450.34 |
3/3,0,0,0 | 1621/A | 2000/ASR |
| SFR/D |
3735 W
|
226th ST | $790,000 | $ 714.29 |
3/1,1,0,0 | 1106/A | 1953/ASR |
| SFR/D |
22715
|
Eriel AVE | $952,702 | $ 496.46 |
4/2,0,0,0 | 1919/A | 1960/ASR |
| SFR/D |
4521
|
Greenmeadows AVE | $ 1,090,000 |
$ 699.61 |
3/1,0,1,0 | 1558/A | 1953/ASR |
| SFR/D |
4625
|
Paseo De Las Tortugas | $ 1,295,000 |
$ 810.39 |
3/1,1,0,0 | 1598/A | 1956/ASR |
| CONDO/A |
3970
|
Sepulveda Blvd #206 | $620,000 | $ 413.33 |
2/2,0,0,0 | 1500/B | 2007/ASR |
| SFR/D |
22939
|
Ocean AVE | $820,000 | $ 554.43 |
3/2,0,0,0 | 1479/A | 1955/ASR |
| CONDO/A |
22485
|
Kent AVE | $839,000 | $ 406.89 |
3/3,0,0,0 | 2062/A | 1999/ASR |
| SFR/D |
22621
|
Susana AVE | $850,000 | $1,049.38 | 3/1,0,0,0 | 810/A | 1952/ASR |
| SFR/D |
3921 W
|
234th PL | $866,000 | $ 513.34 |
4/2,0,0,0 | 1687/A | 1962/ASR |
| SFR/D |
4713
|
Vanderhill RD | $890,000 | $ 772.57 |
3/2,0,0,0 | 1152/A | 1956/ASR |
| SFR/D |
23148
|
Anza AVE | $900,000 | $ 585.94 |
3/2,0,0,0 | 1536/A | 1960/ASR |
| SFR/D |
23430
|
Evalyn AVE | $1,035,000 |
$ 449.02 |
5/1,2,0,0 | 2305/A | 1962/PUB |
| SFR/D |
5006
|
Sharynne LN | $1,750,000 |
$ 673.08 |
4/2,1,0,0 | 2600/E | 1949/ASR |
| CONDO/A |
5500
|
Torrance BLVD #C323 | $615,000 | $ 453.54 |
3/2,0,0,0 | 1356/A | 1990/ASR |
| CONDO/A |
21345
|
Hawthorne BLVD #101 | $665,000 | $ 540.65 |
3/2,0,0,0 | 1230/A | 2005/ASR |
| SFR/D |
5125
|
Sepulveda BLVD | $785,000 | $ 675.56 |
3/1,1,0,0 | 1162/A | 1955/OTH |
| SFR/A |
4018
|
TORRANCE | $875,000 | $ 506.95 |
3/2,0,0,0 | 1726/ | 1956 |
| SFR/D |
21713
|
Ladeene AVE | $921,000 | $ 792.60 |
3/1,1,0,0 | 1162/A | 1956/ASR |
| SFR/D |
5215
|
Scott ST | $960,000 | $ 541.46 |
3/1,1,0,0 | 1773/A | 1955/PUB |
| SFR/D |
5109
|
Beran ST | $961,000 | $ 438.61 |
4/4,0,0,0 | 2191/A | 1955/PUB |
| SFR/D |
21502
|
Linda DR | $1,000,000 |
$ 547.05 |
4/2,0,1,0 | 1828/A | 1955/ASR |
| TWNHS/A |
3727
|
Emerald ST #B | $600,000 | $ 531.91 |
2/2,0,1,0 | 1128/A | 1987/ASR |
| SFR/D |
5105
|
Arvada ST | $730,000 | $ 421.48 |
3/2,0,0,0 | 1732/A | 1954/ASR |
| COMRES/A |
3642
|
Garnet ST | $800,000 | $ 148.45 |
11/7,0,0,0 | 5389/A | 1973/PUB |
| TWNHS/A |
4489
|
Spencer ST #302 | $830,000 | $ 405.27 |
3/2,0,1,0 | 2048/A | 1995/ASR |
| SFR/D |
4765 W
|
191st ST | $855,000 | $ 439.14 |
4/2,0,0,0 | 1947/A | 1954/ASR |
| TWNHS/D |
20508
|
EARL ST | $875,000 | $ 446.20 |
3/2,0,2,0 | 1961/ | 2004 |
| SFR/D |
19905
|
Mansel AVE | $909,500 | $ 649.18 |
3/1,1,0,0 | 1401/A | 1955/ASR |
| SFR/D |
20015
|
Saltee AVE | $940,000 | $ 654.14 |
3/2,0,0,0 | 1437/A | 1955/ASR |
| SFR/D |
20019
|
Mildred AVE | $1,300,000 |
$ 591.72 |
4/1,1,1,0 | 2197/A | 1970/ASR |
| SFR/D |
5515
|
Arvada ST | $1,360,000 |
$ 486.06 |
4/4,0,0,0 | 2798/A | 1956/ASR |
| TWNHS/A |
3429 W
|
171st ST | $499,000 | $ 352.40 |
3/1,0,1,0 | 1416/A | 1974/ASR |
| SFR/A |
18334
|
FALDA AVE | $573,500 | $ 656.93 |
2/1,0,0,0 | 873/ | 1953/BLD |
| SFR/D |
3633 W
|
177th ST | $580,000 | $ 657.60 |
2/1,0,0,0 | 882/A | 1953/ASR |
| SFR/D |
18327
|
Elgar AVE | $610,000 | $ 690.05 |
3/1,0,0,0 | 884/A | 1953/ASR |
| SFR/D |
17008
|
Ermanita AVE | $695,000 | $ 630.10 |
3/1,1,0,0 | 1103/A | 1951/ASR |
| SFR/D |
17108
|
Glenburn AVE | $700,000 | $ 596.25 |
2/2,0,0,0 | 1174/A | 1948/ASR |
| SFR/D |
18820
|
Patronella AVE | $705,000 | $ 595.94 |
3/1,0,1,0 | 1183/A | 1953/PUB |
| SFR/D |
16623
|
Falda AVE | $711,750 | $ 564.88 |
3/2,0,0,0 | 1260/A | 1952/ASR |
| SFR/D |
3621 W
|
177th Street | $720,000 | $ 435.31 |
3/2,0,0,0 | 1654/A | 1953/ASR |
| SFR/D |
3709 W
|
180th PL | $750,000 | $ 496.03 |
4/2,0,0,0 | 1512/A | 1953/ASR |
| SFR/D |
16705
|
Francis CT | $769,000 | $ 372.76 |
4/3,0,0,0 | 2063/A | 1963/ASR |
| SFR/D |
3633 W
|
181st ST | $795,000 | $ 485.35 |
3/2,0,0,0 | 1638/A | 1953/ASR |
| TWNHS/D |
18512
|
Roslin AVE | $799,000 | $ 392.44 |
3/4,0,0,0 | 2036/B | 2018/BLD |
| SFR/D |
16815
|
Fonthill AVE | $815,000 | $ 372.32 |
4/2,0,0,0 | 2189/ | 1954 |
| SFR/D |
3733
|
Sandgate DR | $815,000 | $ 449.53 |
4/3,0,0,0 | 1813/D | 1960/ASR |
| SFR/D |
18932
|
Florwood AVE | $833,000 | $ 374.89 |
5/2,0,1,0 | 2222/A | 1953/ASR |
| SFR/D |
18328
|
Roslin AVE | $894,000 | $ 517.96 |
4/3,0,0,0 | 1726/B | 1949/ASR |
| SFR/D |
4345 W
|
190th ST | $985,000 | $ 321.90 |
4/4,0,0,0 | 3060/A | 2006/ASR |
| TWNHS/A |
2052
|
Artesia | $520,000 | $ 448.28 |
2/2,0,1,0 | 1160/A | 2001/ASR |
| SFR/A |
2603 W
|
166th PL | $605,000 | $ 395.68 |
4/1,1,0,0 | 1529/A | 1955/ASR |
| SFR/D |
2502 W
|
170th ST | $625,000 | $ 520.83 |
3/2,0,0,0 | 1200/A | 1955/ASR |
| SFR/D |
2618 W
|
180th ST | $645,000 | $ 338.23 |
4/3,0,0,0 | 1907/A | 1956/ASR |
| SFR/D |
18902
|
Haas AVE | $680,000 | $ 406.94 |
3/2,0,0,0 | 1671/A | 1951/ASR |
| SFR/D |
16403
|
Wilkie AVE | $689,000 | $ 662.50 |
3/1,1,0,0 | 1040/A | 1951/ASR |
| SFR/D |
2418 W
|
180th PL | $710,000 | $ 584.36 |
3/1,1,0,0 | 1215/A | 1956/ASR |
| TWNHS/A |
17510
|
Van Ness Avenue #5 | $795,000 | $ 461.14 |
3/2,0,2,0 | 1724/B | 2018/BLD |
| TWNHS/A |
17508
|
Van Ness Avenue #4 | $800,000 | $ 464.04 |
3/2,0,2,0 | 1724/B | 2018/BLD |
|
2454
|
Del Amo BL | $ 805.00 |
1/1,0 | 650/A | 1948 | ||
| TWNHS/A |
2160
|
Plaza Del Amo #178 | $560,000 | $ 368.42 |
3/2,0,1,0 | 1520/A | 1979/PUB |
| TWNHS/A |
2714
|
Cabrillo AVE | $677,500 | $ 410.61 |
2/2,0,0,1 | 1650/A | 2006/ASR |
| TWNHS/A |
813
|
Van Ness AVE #B | $689,000 | $ 490.04 |
3/3,0,0,0 | 1406/A | 2000/ASR |
| TWNHS/A |
2444
|
Cabrillo AVE | $695,000 | $ 566.42 |
2/2,0,1,0 | 1227/D | 2018/BLD |
| SFR/D |
1308
|
Cota AVE | $700,000 | $ 628.93 |
2/1,1,0,0 | 1113/A | 1926/ASR |
| TWNHS/A |
1800
|
Oak St. #519 | $705,000 | $ 473.15 |
2/2,0,1,0 | 1490/A | 2007/ASR |
| TWNHS/A |
1800
|
Oak ST #103 | $760,000 | $ 383.84 |
2/2,0,1,0 | 1980/A | 2007/ASR |
| SFR/D |
23305
|
Huber AVE | $740,000 | $ 439.43 |
3/2,0,0,0 | 1684/A | 1948/PUB |
| SFR/D |
1846
|
Reynosa DR | $765,000 | $ 467.03 |
4/2,0,0,0 | 1638/A | 1948/ASR |
| SFR/D |
2218 W
|
229th PL | $795,000 | $ 388.18 |
3/3,0,0,0 | 2048/A | 1962/ASR |
| SFR/D |
2155 W
|
235th PL | $927,900 | $ 388.89 |
4/3,0,0,0 | 2386/A | 1974/ASR |
As Interest Rates Rise….how Does it Impact Torrance Home Buyers?
Many prospective home buyers are concerned with rising interest rates. While the Torrance interest rates in 2018 are still historically very low, the concern is justified. Higher interest rates mean reduced buying power. With every slight rise in interest rates, the monthly payment increases reducing the price of a home that a buyer can qualify for. See the chart below for an idea of how different interest rates impact monthly payment and what a buyer’s income needs to be to qualify.