Pango Group
Torrance, CA 90504
Single-Family Homes
www.pangogroup.com
Torrance, CA 90504
Fri Jul 26 2024
This week the median list price for Torrance, CA 90504 is $1,124,950 with the market action index hovering around 71. This is less than last month's market action index of 79. 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. However, the market is still notably in the Seller’s zone so we haven’t yet seen prices move lower as a result. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect this condition if the index falls to the Buyer’s zone.
Real-Time Market Profile
| Median List Price | $1,124,950 | |
| Median Price of New Listings | $992,000 | |
| Per Square Foot | $701 | |
| Average Days on Market | 26 | |
| Median Days on Market | 7 | |
| Price Decreased | 36% | |
| Price Increased | 0% | |
| Relisted | 7% | |
| Inventory | 14 | |
| Median Rent | ||
| Market Action | 71 | |
| Strong Seller's Market | ||
Price trends in this zip code continued their recent uptrend this week. While still below the market’s high point, we may be seeing the start of a good price stretch here. We’ll look at the Market Action Index later in the report to gauge the leading indicators.
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 |
|---|---|---|---|---|---|---|---|---|
| $1,349,000 | 2,480 | 6,500 - 8,000 sqft | 4 | 3 | NaN | 0 | 0 | 14 |
| $1,150,000 | 1,802 | 4,500 - 6,500 sqft | 3 | 3 | 69 | 1 | 0 | 7 |
| $1,102,450 | 1,526 | 4,500 - 6,500 sqft | 3 | 2 | 70 | 1 | 0 | 7 |
| $934,500 | 1,285 | 4,500 - 6,500 sqft | 3 | 2 | 70 | 2 | 1 | 10 |