Torrance January 2023 real estate market profile has not changed when compared to last few months. It is a seller’s market due to the very low inventory, low demand, lower property sales, high interest rates reducing the homebuyer pool. Home sales are down, the prices are steady or higher when compared to a year ago. See our previous monthly reports to compare numbers on the month to month basis. Higher interest rates have impacted buyers but the low inventory dampens their impact on home prices. Homeowners are hesitant to put their houses on the market and give up their low mortgage interest rates.
Torrance single family home sales were down by 29 percent while the average sales price for single family homes was up by 7 percent. Condo and townhome sales and prices went up last month.
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TORRANCE
Single Family Homes
| Torrance | January 2024 | January 2023 | Difference |
| No. of Sales | 29 | 41 | -29% |
| Average Price | $1,166,820 | $1,093,441 | +7% |
| Median Price | $1,100,000 | $1,120,000 | -2% |
| Days on Market | 22 | 43 | -21 days |
Condos and Townhomes
| Torrance | January 2024 | January 2023 | Difference |
| No. of Sales | 15 | 9 | +67% |
| Average Price | $748,545 | $666,444 | +12% |
| Median Price | $748,889 | $659,000 | +14% |
| Days on Market | 32 | 31 | + 1 day |
Torrance Market Report in Real Time
Torrance January 2024 Market Update
