South Bay Market Data Report 1st Quarter 2018
The Torrance Market Data Report for the 1st quarter of 2018 shows a total of 55 homes closed escrow, compared to 55 homes that sold in the first three months of 2017. The average price for Torrance homes sold in these three months was $984,362 compared to $899,360 in 2017, which is an increase of 9.5%. The average price per square foot during these three months was $583 compared to $575 in 2017, which is a 1.3% increase. The area that sold the most homes during this time was Hollywood Riviera with a total number of 12. Coming in second was West Torrance with 7 closed sales, and North Torrance East had 6 sales.
Currently, Torrance has 110 homes for sale. There are 82 single family homes for sale starting at $425,000 for a 1 bedroom/1 bath, 630 square foot home, to $2,698,000 for a 5 bedroom/ 5 bath, 4,502 square foot home. There are 28 condo/townhomes for sale starting at $250,000 for a 1 bedroom/1 bath, 639 square foot condo, to $895,000 for a 3 bedroom/4 bath, 2,446 square foot condo/townhome.
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If you have any questions about the South Bay real estate market, or if you are interested in selling or purchasing residential or commercial property please feel free to contact me.