Market Reports Archives - Page 2 of 2 - 55+ Communities in Torrance California

South Bay Real Estate Update for 2021

March 1, 2022 by Krystyna

South Bay Real Estate Update for 2021

South Bay real estate can be characterized by the increased home values and sales in 2021. Below are selected real estate market reports for major markets in South Bay CA and Beach Cities. Below you’ll find property listing and selling data in real time – click on provided links to see current listings and sold homes in last 3 months (all info is based on CRMLS; single family homes only). You may create your own market report, save and receive email update. Overall real estate market in the South Bay directly impacts the 55+ senior homes values and prices. Therefore, it’s helpful to know the local market trends.

Contact us for your Free Home Evaluation. Call (310)918-5027 today and find out what your home is worth in today’s market.

REDONDO BEACH
414 single family were sold in Redondo Beach last year. Average selling price was $1,672,238; median sold price was $1,5M, average days on the market 20 days. Number of sales went up by 23% as compared to the previous year; Median price went up by 12 percent, Average sold price went up by 9 percent.
Redondo Beach Market Report
TORRANCE
952 single family homes were sold in Torrance in 2021 compared to 774 homes sold in 2020 – 23 percent increase. Average sold price was $1,o74,890 compared with $943,340 a year ago, which represents a 14 percent price increase. Median selling price was $1,037,000 – 15 percent higher than a year ago ($899,450); average days on market – 15 vs 21 days in 2020.
Torrance Market Report
SAN PEDRO
Total of 409 single family homes were sold in San Pedro in 2021 compared with 353 sales a year ago, which is a 16 percent increase. Median sales price was $870,000 vs $756,000, which represents a 15 percent increase y-o-y. Average sold price was $935,033 vs. $779,893 a year ago – 20% price increase. It took 11 days fewer to sell a house (21 days vs 32 days in ’20)
San Pedro Market Report
These are samples of real estate market reports for some South Bay markets.
Every neighborhood is different. If you’re thinking about selling your home, please contact us and we’ll provide you with a Free market report for your home and the neighborhood.

Torrance Real Estate Report for 2021

January 11, 2022 by Krystyna

Torrance real estate market was characterized by higher home prices and increased sales. Total of 952 single family homes were sold in 2021, 23 percent increase on y-o-y basis. Median price was $1,037,000 compared to $899,450 a year ago. Below are market details (single family homes only; data based on CRMLS):

	2021	2020	Difference
No. of Sales	952	774	+23%
Median Price	$1,037,000	$899,450	+15%
Average Price	$1,074,890	$943,340	+14%
Days on Market	15	21	-6 days

Torrance CA Market Update 2021 vs. 2020

Every neighborhood is different and real estate is local. Please contact us at (310)918-5027 for fill out the short contact form for your free home market report.

Search All Torrance Homes For Sale

Home Price Forecast

October 25, 2021 by Krystyna

Home prices, in South Bay and most of the country, have increased significantly over 2020, which in turn has grown the net worth of homeowners. Appreciation and home equity are directly linked – as the value of a home increases, so does a homeowner’s equity. And with these recent gains, homeowners are witnessing their financial stability and well-being grow to record levels.

In more good news for Torrance and South Bay homeowners, the most recent Home Price Expectations Survey – a survey of a national panel of over one hundred economists, real estate experts, and investment and market strategists – forecasts home prices will continue appreciating over the next five years, adding to the record amount of equity homeowners have already gained over the past year. Below are the expected year-over-year rates of home price appreciation from the report:

home price forecast — Home Price Increase Projection

Home prices are climbing today, and the data in the survey indicates they’ll continue to increase, but at rates that approach a more normal pace. The amount of household wealth a homeowner stands to earn in the future is substantial. This truly becomes clear when we consider a scenario using a median-priced home purchased in January of 2021 and the projected rate of appreciation on that home over the next five years.

As the graph below illustrates, a homeowner could increase their net worth by a significant amount – over $93,000 dollars by 2026.

household growth projections — Projected Household Wealth Growth

CoreLogic recently released their quarterly Homeowner Equity Insights Report, which tracks the year-over-year increases in equity. It shows an average annual gain of $33,400 per borrower over the past 12 months. In the report, Dr. Frank Nothaft, Chief Economist for CoreLogic, further explains:

“Double-digit home price growth in the past year has bolstered home equity to a record amount. The national CoreLogic Home Price Index recorded an 11.4% rise in the year through March 2021, leading to a $216,000 increase in the average amount of equity held by homeowners with a mortgage.”

The expected, sustained growth of home prices means homeowners can continue to build on the past year’s record levels of home equity – and their financial prosperity. It also presents today’s homeowners with a unique opportunity: using their growing equity for a home upgrade.

With so few homes available to purchase and strong buyer demand, there may not be a better time to sell your current house and move into one that better meets your needs such as a 55+ community.

Call Krystyna at (310)918-5027 for your Free home evaluation report to find out what equity you currently have in your home.

Torrance 55+ Homes Update

August 11, 2021 by Krystyna

Torrance 55+ condos have been selling quickly. There is a limited supply of over 55 active senior homes for sale in Torrance and South Bay Area. The high demand for 55+ properties generates quick sales and multiple offers on any 55+ condo listed for sale. This applies to other South Bay senior communities in Redondo Beach and Palos Verdes.

Torrance has many beautiful senior communities and yet as of today, we have only 4 condos listed for sale. There are two units available at New Horizons, one is listed at The Gables and one is listed at Pacific Village.

The lowest priced condo is listed at $299,500 (studio unit at The Gables), the highest is listed at $549,900 (2 bd 2 bath unit at New Horizons, located on the popular lower level).

View Today’s Torrance Area 55+ Condo Listings

One unit is listed for sale at Breakwater Village in Redondo Beach. Breakwater Village condos rarely come on the market and this unit will sell quickly.

Please contact Krystyna Baty Ryan at (310)918-5027 or fill out the short contact form below if you’d like to receive new listings as soon as they come on the market: