George Fotion's Market Report
Torrance, CA 90505
Single-Family Homes
Call Realty | www.BestPalosVerdesHomes.com | 310.346.6467
Torrance, CA 90505
Tue Apr 23 2024
This week the median list price for Torrance, CA 90505 is $1,423,500 with the market action index hovering around 56. This is less than last month's market action index of 59. Inventory has increased to 14.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
The market has been cooling off a bit in recent weeks, as more homes are available and demand is less. We’re already seeing prices move lower as a result, though the market is still in the Seller’s zone. Expect this trend to continue especially if the index falls to the Buyer’s zone. Watch for a persistent up-turn in Market Action to signal prices rising again.
Real-Time Market Profile
| Median List Price | $1,423,500 | |
| Median Price of New Listings | $1,250,000 | |
| Per Square Foot | $901 | |
| Average Days on Market | 33 | |
| Median Days on Market | 18 | |
| Price Decreased | 21% | |
| Price Increased | 0% | |
| Relisted | 7% | |
| Inventory | 14 | |
| Median Rent | ||
| Market Action | 56 | |
| Strong Seller's Market | ||
The market has been cooling off a bit in recent weeks, as more homes are available and demand is less. We’re already seeing prices move lower as a result, though the market is still in the Seller’s zone. Expect this trend to continue especially if the index falls to the Buyer’s zone. Watch for a persistent up-turn in Market Action to signal prices rising again.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $2,349,000 | 2,572 | 4,500 - 6,500 sqft | 4 | 3 | 51 | 0 | 0 | 28 |
| $2,000,000 | 2,698 | 4,500 - 6,500 sqft | 4 | 3 | 41 | 2 | 0 | 0 |
| $1,336,000 | 1,426 | 4,500 - 6,500 sqft | 3 | 2 | 71 | 1 | 2 | 24 |
| $1,099,000 | 1,211 | 4,500 - 6,500 sqft | 3 | 2 | 69 | 2 | 0 | 3 |