Is Torrance, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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
$1,009,069
$679/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Torrance was $1,009,069 in March 2024, down 7.8% from last year, and the median price per square foot was $679.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $482.5K | $425.5K | -11.8% |
2 Bedrooms | $775K | $690K | -11.0% |
3 Bedrooms | $1.1M | $1.0M | -6.4% |
4 Bedrooms | $1.2M | $1.3M | +1.6% |
5+ Bedrooms | $1.7M | $1.6M | -4.7% |
Summary: Torrance housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 11.8%, 2 bedroom homes decreased by 11%, 3 bedroom homes decreased by 6.4%, 4 bedroom homes increased by 1.6%, and 5+ bedroom homes decreased by 4.7%.
Median Sold Price Compared To Nearby Cities
Lomita | $842.5K | $856K | +1.6% |
Redondo Beach | $1.4M | $1.4M | +1.5% |
South Bay Cities | $1.7M | $1.7M | -1.3% |
Rolling Hills Estates | $1.7M | $1.6M | -3.0% |
Torrance | $1.0M | $1.0M | -7.8% |
Housing Supply in Torrance, CA
How many homes are available in Torrance, CA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
258 | 275 | +6.6% |
Summary: The Torrance real estate market had 275 homes for sale in March 2024, a 6.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 20 | 19 | -5.0% |
2 Bedrooms | 53 | 52 | -1.9% |
3 Bedrooms | 117 | 119 | +1.7% |
4 Bedrooms | 52 | 65 | +25.0% |
5+ Bedrooms | 16 | 20 | +25.0% |
Summary: The Torrance housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 5%, 2 bedroom homes decreased by 1.9%, 3 bedroom homes increased by 1.7%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
74 | 91 | +23.0% |
Asking Price vs. Sold Price
31 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
52 Homes Were Sold
Over Asking
Summary: A total of 91 homes were sold or pending in Torrance in March 2024, up by 23.0% month-over-month. Of the 91 sold homes, 34% were sold under asking, 9% were sold at asking, and 57% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
37 Days | 19 Days | -46.3% |
Summary: Homes in Torrance had an average of 19 days on market in Mar 2024, down by 46.3% compared to last year.
Breakdown of Home Sale Times
78 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Summary: During March 2024, 91 homes were sold in Torrance; 86% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.