Torrance Real Estate Market Update

September was another strong month for the Torrance real estate market but overall market is in danger of slowing down the next few months due to a lack of inventory. For the month of September there were 92 homes sales throughout the various areas of Torrance, including 10 sales in Hollywood Riviera.

The median sale price was $541,875. Both the number of sales and median sale price compare favorably month to month and year to year. August of this year saw 82 sales recorded with a median sale price of $540,000. For September of 2011 there were only 71 sales at a median price of $530,000.

Unfortunately inventory throughout Torrance is drying up. In September there were 202 active listings and 92 sales for a Sales/Listings ratio of 45.54%.

This extremely high Sales/Listings ratio has caused the Estimated Months of Inventory measure to drop to 2.2 months. This is likely going to result in a major drop in sales in October unless there is a dramatic increase in new listings the next few weeks.

For additional information on the Torrance market please contact Hady at 310-404-5361 or click here to submit a request.

 

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