Thu Feb 27 2020
This week the median list price for Torrance, CA 90505 is $1,050,000 with the market action index hovering around 57. This is less than last month's market action index of 58. Inventory has held steady at or around 19.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$1,050,000|
|Per Square Foot||$590|
|Days on Market||55|
|Strong Seller's Market|
The market has been at a stasis point in terms of sales to inventory. However, prices seem to continue to fall a bit. Technically supply levels indicate this is a Seller’s market so it is likely that the downward pricing pressure will be light or variable. Watch for an up-shift in the MAI before price stability is achieved.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$1,949,750||3,311||6,500 - 8,000 sqft||4||3||22||2||2||180|
|$1,199,000||2,206||6,500 - 8,000 sqft||4||3||44||2||3||46|
|$975,000||1,518||4,500 - 6,500 sqft||3||2||67||1||0||8|
|$845,000||1,244||4,500 - 6,500 sqft||3||2||69||3||5||8|