Torrance Market Year End ’23 Report

Torrance real estate market was a seller’s market in 2023. The buyer demand was lower than in the previous year due to higher mortgage interest rates and very low inventory of homes available for sale. Home sellers who had in recent years locked in historically low interest rates on their loans have stayed put. Thus the imbalance in our market.

We prepared real estate estate market updates for selected Torrance in order to better understand the local South Bay and Torrance area market conditions. Below you’ll find property sales data in the year 2023 as it compares to the year 2022, broken down by property type. Torrance home sales were lower by 14 percent while the average sales price for single family homes was down by 3 percent. See below for all detailed data.

You may create your own market report for any market, city, zip code, area, property type, save and receive email updates. It’ll help you to be current with your area market conditions. These reports can be helpful if you’re either a buyer or a seller in Torrance and South Bay LA.

 Contact us for your Free Home Evaluation.  Call (310)918-5027 today. We’ll be happy to help!

TORRANCE

Single Family Homes

Torrance	Year 2023	Year 2022	Difference
No. of Sales	634	737	-14%
Median Price	$1,124,500	$1,150,000	-2%
Average Price	$1,154,853	$1,191,430	-3%
Days on Market	22	19	+3 days

Condos and Townhomes

Torrance	Year 2023	Year 2022	Difference
No. of Sales	257	356	-28%
Median Price	$675,000	$687,500	-2%
Average Price	$681,821	$699.476	-3%
Days on Market	27	18	+9 days

Torrance Market Report in Real Time

Every market is different, sometimes a couple of blocks make a difference in valuation.  Contact us at (310)918-5027 for your Free home evaluation or click below to get an instant report: