Torrance Market Report for 2023
Torrance market was a seller’s in 2023. Several factors contributed to the strong seller’s market in Torrance CA. The main reason was a very low inventory of homes for sale which reduced the buyer options. Higher mortgage interest rates which more than doubled in the short period of time created the situation where home owners did not want to move and give up those low rates. While the sales numbers were down 14% for houses, the median and the average prices are higher when compared to a year ago.
See our previous Torrance market 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.
Below you’ll find property sales data in year 2023 as it compares to the previous year 2022, broken down by property type. Torrance home sales were down by 14 percent while the average sales price for single family homes was down by 3 percent.
Curious about your neighborhood home sales and prices? Call (310)918-5027 or create your own market report – see below:
You may create your own market report for any market, city, zip code, area, property type, save and receive email update. It’ll help you to be current with your area market conditions. These reports may be helpful if you’re either a buyer or a seller in Torrance and Greater 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 |
We have a lot of properties for sale in Torrance CA at different price points, from affordable condos or bungalows to large estates. Contact Krystyna at (310)918-5027 and my team and I will find you the home that fits your budget and needs.
If you’re thinking about selling your current home, call us and we’ll provide you with a complimentary home evaluation.
