Is Old Torrance, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Old Torrance was a Neutral Market.
Key Takeaway
Old Torrance is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Old Torrance, CA
How much do homes in Old Torrance, CA cost?
Median Sold Price
$855,000
$622/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Old Torrance have sold for 0.6% less than they did a year ago.
Summary: The median home sold price in Old Torrance was $855,000 in April 2024, down 0.6% from last year, and the median price per square foot was $622.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $470.4K | $415K | -11.8% |
| 2 Bedrooms | $780K | $792.5K | +1.6% |
| 3 Bedrooms | $920K | $930K | +1.1% |
| 4 Bedrooms | $1.1M | $1.1M | +6.5% |
| 5+ Bedrooms | $1.8M | $1.2M | -32.5% |
Summary: Old 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 increased by 1.6%, 3 bedroom homes increased by 1.1%, 4 bedroom homes increased by 6.5%, and 5+ bedroom homes decreased by 32.5%.
Median Sold Price Compared To Nearby Neighborhoods
| Central Torrance | $878.5K | $905K | +3.0% |
| Harbor City | $750K | $747.4K | -0.3% |
| Old Torrance | $860K | $855K | -0.6% |
| N. Torrance - East | $937.5K | $922.5K | -1.6% |
Housing Supply in Old Torrance, CA
How many homes are available in Old Torrance, CA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 22 | 24 | +9.1% |
Summary: The Old Torrance real estate market had 24 homes for sale in April 2024, a 9.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 4 | +33.3% |
| 2 Bedrooms | 9 | 9 | 0.0% |
| 3 Bedrooms | 3 | 4 | +33.3% |
| 4 Bedrooms | 5 | 6 | +20.0% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Old Torrance housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes remained the same, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 20%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 4 | 13 | +225.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Old Torrance, you could pay more than the asking price. 46.2% of homes here sold above asking price last month.
Summary: A total of 13 homes were sold or pending in Old Torrance in April 2024, up by 225.0% month-over-month. Of the 13 sold homes, 23% were sold under asking, 31% were sold at asking, and 46% were sold over asking.
Days on Market for Old Torrance, CA
How long does it take to sell a home in Old Torrance, CA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 13 Days | 19 Days | +48.1% |
Summary: Homes in Old Torrance had an average of 19 days on market in Apr 2024, up by 48.1% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Old Torrance are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 13 homes were sold in Old Torrance; 92% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 8% 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.