We analyze several housing market indicators in order to present an in-depth breakdown of Torrance Real Estate Market comparing March 2009 to March 2010.
Summary of Key Points
Torrance Real Estate has shown continued signs of improvement with median sales price inching up,median days on market dropping,units sold increased and sellers receiving 98% of asking price as compared to 97% last year.
Key Statistics, Torrance , CA: Median Sales Price (0.53%), Median Days on Market (-25.52%), and Number of Units Sold (52.08%), Sales Price to List Price Ratio (March 09 97% – March 10 98%)
Torrance Real Estate
The city of Torrance experienced a 0.53% increase in median sales price from last year going up from $572,575 (March 09) to $575,590 (March 2010). Median days on market data for Torrance show that houses are selling faster than March 09. It took 63 days in March 09 for a house to sell and for March 10 that number has gone down to 47 days (a 25.52% improvement). Another important factor to consider is total number of units sold. In the month of March 09, 48 units were sold compared to 73 for March 10 (52.08% change). Lastly we are going to take a look at the Sales Price to List Price Ratio for Torrance. SP/LP ratio for March 09 was 97% compared to 98% for March 10.
Let’s take a brief look at neighbors Redondo Beach and Culver City. Redondo Beach Real Estate featured a 3.52% increase in median sales price ($840,492 March 09 – $870,114 March 10) and Culver City Real Estate saw a 10.58% increase ($590,816 March 09 – $653,333 March 10). Are houses in Redondo Beach and Culver City selling faster or slower this year? Well, Redondo Beach experienced a 9.10% increase (60 to 66 days) in median days on market and Culver City a 25.64% increase (69 to 87 days). In the units sold category, Redondo Beach sold 3 units more (15.79%) in March 2010 than 09 and Culver City sold 7 units less (-53.85%) in March 2010 than March 09.
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