Is Torrance, CA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Torrance is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, Torrance has remained a Seller's Market.

Key Takeaway

Torrance is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Torrance, CA

How much do homes in Torrance, CA cost?

Median Sold Price

$1,001,357

$681/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

-$68,642(-6.4%)

Key Takeaway

Homes in Torrance have sold for 6.4% less than they did a year ago.

Summary: The median home sold price in Torrance was $1,001,357 in April 2024, down 6.4% from last year, and the median price per square foot was $681.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $482.5K$425.5K
-11.8%
2 $772.5K$712.5K
-7.8%
3 $1.0M$1.0M
-6.4%
4 $1.2M$1.3M
+2.7%
5+ $1.6M$1.5M
-6.4%

Summary: 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 decreased by 7.8%, 3 bedroom homes decreased by 6.4%, 4 bedroom homes increased by 2.7%, and 5+ bedroom homes decreased by 6.4%.

Median Sold Price Compared To Nearby Cities

Redondo Beach
+2.8%
Lomita
+2.8%
South Bay Cities
-2.1%
Rolling Hills Estates
-4.9%
Torrance
-6.4%

Housing Supply in Torrance, CA

How many homes are available in Torrance, CA?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
285273-4.2%

Summary: The Torrance real estate market had 273 homes for sale in April 2024, a 4.2% decrease compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 1821
+16.7%
2 4947
-4.1%
3 129113
-12.4%
4 7071
+1.4%
5+ 1921
+10.5%

Summary: The Torrance housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 16.7%, 2 bedroom homes decreased by 4.1%, 3 bedroom homes decreased by 12.4%, 4 bedroom homes increased by 1.4%, and 5+ bedroom homes increased by 10.5%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
91105+15.4%

Asking Price vs. Sold Price

31 Homes Were Sold
Under Asking

12 Homes Were Sold
At Asking

62 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Torrance, you could pay more than the asking price. 59% of homes here sold above asking price last month.

Summary: A total of 105 homes were sold or pending in Torrance in April 2024, up by 15.4% month-over-month. Of the 105 sold homes, 30% were sold under asking, 11% 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

Apr 2023Apr 2024CHANGE
22 Days19 Days-13.9%

Summary: Homes in Torrance had an average of 19 days on market in Apr 2024, down by 13.9% compared to last year.

Breakdown of Home Sale Times

86 Homes Were Sold
Under 30 Days

16 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Torrance are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 105 homes were sold in Torrance; 82% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 19 Days Ago

Newest Listings in Torrance, CA

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