Torrance CA Real Estate Market Update – August ’23
Torrance CA real estate market is now a seller’s market due to the very low inventory, stagnant home sales, high interest rates reducing the buyer pool. While the sales numbers are down, the prices are steady or a bit higher when compared to a year ago. See our July Report to compare data on the month to month basis. Higher interest rates have impacted buyers but the low inventory dampens their impact on home prices.
Below you’ll find property selling data in August ’23 vs. August ’22, broken down by property type. Torrance home sales were down by 9 percent while the average sales price for single family homes was up by 1 percent. See below for all detailed data.
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TORRANCE
Single Family Homes
| Torrance | August 2023 | August 2022 | Difference |
| No. of Sales | 70 | 64 | -9% |
| Average Price | $1,201,553 | $1,194,196 | +1% |
| Median Price | $1,171,000 | $1,133, | +3% |
| Days on Market | 16 | 14 | -1 day |
Condos & Townhomes
| Torrance | August 2023 | August 2022 | Difference |
| No. of Sales | 33 | 22 | +50% |
| Average Price | $716,641 | $709,900 | +1% |
| Median Price | $670,000 | $710,000 | -6% |
| Days on Market | 14 | 19 | -5 days |
All data is based on CRMLS
Torrance Market Report in Real Time
Every local Torrance market is different, sometimes a couple of blocks make a bit difference. Contact us at (310)918-5027 for your Free home evaluation or click below to get an instant report:
