Is Torrance, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
Since last year, Torrance has remained a Seller's Market.
Housing Prices in Torrance, CA
How much do homes in Torrance, CA cost?
Median Sold Price
$1,013,333
$687/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in Torrance was $1,013,333 in June 2024, down 3.5% from last year, and the median price per square foot was $687.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $500K | $432.5K | -13.5% |
2 Bedrooms | $748.5K | $730K | -2.5% |
3 Bedrooms | $1.0M | $1.0M | -1.1% |
4 Bedrooms | $1.2M | $1.3M | +9.3% |
5+ Bedrooms | $1.6M | $1.6M | +2.8% |
Summary: Torrance housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 13.5%, 2 bedroom homes decreased by 2.5%, 3 bedroom homes decreased by 1.1%, 4 bedroom homes increased by 9.3%, and 5+ bedroom homes increased by 2.8%.
Median Sold Price Compared To Nearby Cities
Redondo Beach | $1.4M | $1.4M | +4.3% |
South Bay Cities | $1.7M | $1.7M | +2.6% |
Lomita | $850K | $850.5K | 0.1% |
Torrance | $1.0M | $1.0M | -3.5% |
Rolling Hills Estates | $1.7M | $1.6M | -4.2% |
Housing Supply in Torrance, CA
How many homes are available in Torrance, CA?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
285 | 282 | -1.1% |
Summary: The Torrance real estate market had 282 homes for sale in June 2024, a 1.1% decrease compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 13 | 11 | -15.4% |
2 Bedrooms | 52 | 60 | +15.4% |
3 Bedrooms | 127 | 122 | -3.9% |
4 Bedrooms | 67 | 63 | -6.0% |
5+ Bedrooms | 26 | 26 | 0.0% |
Summary: The Torrance housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 15.4%, 2 bedroom homes increased by 15.4%, 3 bedroom homes decreased by 3.9%, 4 bedroom homes decreased by 6%, and 5+ bedroom homes remained the same.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
101 | 81 | -19.8% |
Asking Price vs. Sold Price
23 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
48 Homes Were Sold
Over Asking
Summary: A total of 81 homes were sold or pending in Torrance in June 2024, down by 19.8% month-over-month. Of the 81 sold homes, 28% were sold under asking, 12% were sold at asking, and 59% were sold over asking.
Days on Market for Torrance, CA
How long does it take to sell a home in Torrance, CA?
Average Sale Time
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
21 Days | 19 Days | -9.7% |
Summary: Homes in Torrance had an average of 19 days on market in Jun 2024, down by 9.7% compared to last year.
Breakdown of Home Sale Times
63 Homes Were Sold
Under 30 Days
15 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During June 2024, 81 homes were sold in Torrance; 78% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.