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
Torrance open houses

The Home Selling Process in Torrance CA

Welcome to our information page for TorranceTorrance open houses home sellers

Selling your home in Torrance can be a stressful process. Making the decision to sell, preparing the home for sale, keeping it clean, dealing with showings and open house, search for the right buyer, negotiating offers, and going through the escrow and inspection process…all of these steps can be challenging, stressful and inconvenient. Selling a home both a huge financial transaction but also a very emotional process.

With the help of the right realtor you can get it done, and it may even be easier than you anticipate. Keep in mind that you’re not alone.  An experienced, professional real estate agent can guide you through the process, help resolve any issues that come up, and ensure that your home sells for the optimal price in a timely manner.  It’s critical to find a realtor that you trust as it will make the process far less stressful.  Here are some of the steps:

Choosing a Realtor

Like choosing any service professional it’s important to do your homework before deciding on a real estate agent. Your home purchase or sale likely represents one of the most significant financial transactions of your life, and you definitely want to find the right person for you.  Not all sellers are the same and not all realtors are the same….find the right match is important.

Abilities, production and knowledge matter.  You want someone with experience, knowledge of your home, neighborhood and market, and a Realtor with a proven track record of successful closings.  Keep in mind that you pay most agents the same commission so do your homework and find out which agents do more, sell more, and have a record of success.  Also read online reviews and ask around.  See our reviews and testimonials on Zillow and Yelp

Pricing Your Home

When you want to sell your home, one of the most important steps is setting a price. To best determine what your home is really worth, you’ll need to put aside your personal feelings about the home and ask yourself what homebuyers may actually be willing to pay. It is usually detrimental to base your asking price on emotion and can actually cost you in the long run. Although the home means a great deal to you, homebuyers aren’t likely to take that into account.  Unfortunately what are upgrades to some, may mean some remodeling to others.  Let your realtor give you their honest and professional opinion based on homes they’ve seen, market conditions and a realistic understanding of how potential buyers will see the home.

Market conditions are likely to have the most significant impact on the sale price of your home, so take note of whether the homes in your area are priced high or low and if they’re selling quickly.  Successful realtors will know how your home compares with other homes on the market and recent sales.  This unbiased opinion is critical in coming up with the market value of your home

Feel free to contact me for an opinion of your Torrance home’s proper selling price. I can provide you with a marketing consultation and information about property values in your area. I have been one of the top agents in the Redondo area for over a decade and can use that experience and knowledge to help guide you successfully through the process from start to finish.

Getting the Process Moving

Once you decide to sell your home, you want the process to go quickly. But what do buyers want? It varies with the needs of each individual, but typically buyers are looking for a good neighborhood, good schools,  a clean home that is priced appropriately.

You can’t control all of these factors, but there are some things you can do to make your home sell faster. Start by realizing that you’re competing with other sellers, so your price must be competitive. If it’s not, potential buyers are likely to take their business elsewhere.  Ask your realtor to show you some competing homes and get a sense of why some homes sell quickly and others don’t.

You can also increase the perceived value of your home by adding a few welcoming touches and cleaning it up – both inside and out. Although you can’t do much to change your neighborhood, you can focus on the positive aspects of the area when speaking with potential buyers.

Find out more about Keith Kyle with Vista Sotheby’s International Real Estate or contact me via email, phone or text.

 

Torrance homes for sale sign

2016 Top Producing Realtor Announced in the South Bay

Vista Sotheby’s International, one of the top real estate firms in Torrance and the South Bay area of Los Angeles have recently announced  their “Top Producers” for 2016. With offices throughout the area including Manhattan Beach, Hermosa Beach, Palos Verdes, Redondo Beach and the Hollywood Riviera, Vista Sotheby’s has quickly become the dominant force in the local real estate market.

We are proud to annouce that Torrance real estate specialist Keith Kyle was one of the top agents companywide and was the #9 top producing agent for 2016.   Congrats to all of the realtors given the award.  See also the Vista Sotheby’s top producers for 2015.
Top Realtors in the South Bay 2016

We wanted to thank all of our clients and friends that helped make 2016 such as successful year in real estate.

Single family homes in Torrance

Home Sales are Up While Inventory Way Down in West Torrance

Keith KyleSingle family homes in Torrance

Where did all the homes go in West Torrance?

Well the limited number of homes that were on the market all sold leaving inventory down once again.

The chart below shows the 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. February saw 13 homes close escrow with only 6 active homes for sale. As of April 17th there are 8 active homes for sale and 13 homes in escrow.

 

Torrance Housing Inventory Still Down But on the Rise

By Keith Kyle

The real estate market in Torrance CA continues to be driven by the lack of homes for sale but for the third straight month we have seen an increase in the number of homes for sale.  Inventory has been on the rise since the low point in December but still far below the norm.  We have also seen an increase in the pending home sales over that same period of time and it appears that the inventory will continue to rise as we head towards the usually busy summer buying and selling season.  See all of the Torrance homes for sale or search by neighborhoods.  To see the most recent Torrance home sales visit our closed sale pages.

Hollywood Riviera homes for sale - 340 Via Colusa

Welcome to Torrance Real Estate & Homes for Sale

By Keith KyleHomes for sale in the Hollywood Riviera

Welcome to Torrance real estate.  We have strived to offer the very best information and home search features on a local website designed specifically for Torrance home buyers and sellers.  As local Torrance and Redondo Beach real estate specialists we understand how unique Torrance is and how different and distinct the various areas can be.  From oceanfront homes in the Hollywood Riviera, to duplex and income properties in the County Strip area…..we can help.  Search for homes with our free Torrance MLS access or allow us to do the hard work for you with our FREE daily listing updates and know about new homes first.  Our website offers information on real estate markets and trends in each neighborhood, recent home sales and prices, current off market homes and MLS listings, short sales and foreclosures and information for home sellers to find out what their Torrance home is worth and how we have been so successful at marketing and selling homes in the area.  We hope that our website is a great place to start for all of your Torrance real estate needs.  Contact us as any time for questions or more information.

 

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