torrance real estate market conditions - march 2015
DESCRIPTION
Torrance real estate statistics and analysis for March 2015. Includes home sales, listings, inventory and historical performance on a month-to-month and year-to-year basis.TRANSCRIPT
Table of
Contents
Key Statistics for March
Sales 2015 Residential Sales Stats Year-to-Year Total Sales by Map Area Median 2015 Median Sales Stats Year-to-Year Median Sales by Map Area Listings 2015 Active Listings by Map Area 2015 Total Active Listings vs. Total Sales Year-to-Year Active Listings by Map Area Inventory 2015 Months of Inventory by Map Area Year-to-Year Months of Inventory
Outlook for April
About Hady Chahine Contact Information
Key Statistics for March
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= trending positive = trending positive
= trending negative = trending negative
Month-to-Month Comparison Feb 2015 Mar 2015 Delta (qty) Delta (%) Increase Decrease
Total Sales 67 79 12 17.9%
Median Sales Price 610,000 620,000 10,000 1.6%
Median Days to Sell 32 37 5 15.6%
Listings 164 158 -6 -3.7%
Sales/Listing Ratio 40.9% 50.0% 9.1% 22.2%
Months of Inventory 2.5 2 -0.5 -20.0%
Monthly Comparison Year-to-Year Mar 2014 Mar 2015 Delta Delta Increase Decrease
Total Sales 78 79 1 1.3%
Median Sales Price 592,250 620,000 27,750 4.7%
Median Days to Sell 30 37 7 23.3%
Listings 164 158 -6 -3.7%
Months of Inventory 2.0 2.0 0 0.0%
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Total Sales Month-to-Month by Map Area Jan Feb Mar
Central Torrance 5 15 12
South East Torrance - West 6 2 9
Hollywood Riviera 4 8 13
South Torrance 4 5 1
Southwood 2 6 3
West Torrance 5 3 3
N Torrance - West 6 9 11
N Torrance - East 5 5 8
Old Torrance 4 12 12
South East Torrance - East 3 2 7
Total Sales 44 67 79
0
10
20
30
40
50
60
70
80
Jan Feb Mar
2015 Total Sales Month-to-Month by Map Area
Central Torrance
South East Torrance - West
Hollywood Riviera
South Torrance
Southwood
West Torrance
N Torrance - West
N Torrance - East
Old Torrance
South East Torrance - East
Total Sales
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Total Sales Year-to-Year by Map Area 2013 2014 2015
Central Torrance 14 10 12
South East Torrance - West 10 6 9
Hollywood Riviera 14 6 13
South Torrance 6 7 1
Southwood 5 4 3
West Torrance 10 7 3
N Torrance - West 11 12 11
N Torrance - East 8 8 8
Old Torrance 5 7 12
South East Torrance - East 7 11 7
Total Sales 90 78 79
0
10
20
30
40
50
60
70
80
90
2013 2014 2015
Total Sales Year-to-Year by Map Area: March
Central Torrance
South East Torrance - West
Hollywood Riviera
South Torrance
Southwood
West Torrance
N Torrance - West
N Torrance - East
Old Torrance
South East Torrance - East
Total Sales
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Median Sales Price Month-to-Month by Map Area Jan Feb Mar
Central Torrance 615,000 530,000 736,500
South East Torrance - West 751,500 619,500 445,000
Hollywood Riviera 984,500 935,000 995,000
South Torrance 692,500 695,000 683,550
Southwood 927,500 515,000 765,000
West Torrance 771,000 740,000 1,002,000
N Torrance - West 565,000 619,000 607,500
N Torrance - East 583,000 460,000 527,500
Old Torrance 585,500 607,500 527,000
South East Torrance - East 675,000 595,750 615,000
Market Median Sales Price 637,500 610,000 620,000
-
200,000
400,000
600,000
800,000
1,000,000
1,200,000
Jan Feb Mar
2015 Median Sales Price Month-to-Month by Map Area
Central Torrance
South East Torrance - West
Hollywood Riviera
South Torrance
Southwood
West Torrance
N Torrance - West
N Torrance - East
Old Torrance
South East Torrance - East
Market Median Sales Price
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Median Sales Price Year-to-Year by Map Area 2013 2014 2015
Central Torrance 564,250 492,450 736,500
South East Torrance - West 305,000 771,500 445,000
Hollywood Riviera 967,500 1,099,663 995,000
South Torrance 742,500 775,000 683,550
Southwood 675,000 554,450 765,000
West Torrance 686,500 696,000 1,002,000
N Torrance - West 420,000 558,500 607,500
N Torrance - East 414,750 535,250 527,500
Old Torrance 459,000 438,000 527,000
South East Torrance - East 560,000 650,000 615,000
Market Median Sales Price 564,250 592,250 620,000
-
200,000
400,000
600,000
800,000
1,000,000
1,200,000
2013 2014 2015
Median Sales Price Year-to-Year by Map Area: March
Central Torrance
South East Torrance - West
Hollywood Riviera
South Torrance
Southwood
West Torrance
N Torrance - West
N Torrance - East
Old Torrance
South East Torrance - East
Market Median Sales Price
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Active Listings vs. Total Sales by Map Area Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Central Torrance 27 28 29
South East Torrance - West 16 17 12
Hollywood Riviera 20 18 16
South Torrance 11 13 16
Southwood 6 6 8
West Torrance 12 13 9
N Torrance - West 17 20 20
N Torrance - East 10 7 10
Old Torrance 20 21 22
South East Torrance - East 17 21 16
Total Active Listings 156 164 158
-
5
10
15
20
25
30
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2015 Active Listings by Map Area
Central Torrance
South East Torrance - West
Hollywood Riviera
South Torrance
Southwood
West Torrance
N Torrance - West
N Torrance - East
Old Torrance
South East Torrance - East
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Active Listings vs. Total Sales by Map Area Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Central Torrance 27 28 29
South East Torrance - West 16 17 12
Hollywood Riviera 20 18 16
South Torrance 11 13 16
Southwood 6 6 8
West Torrance 12 13 9
N Torrance - West 17 20 20
N Torrance - East 10 7 10
Old Torrance 20 21 22
South East Torrance - East 17 21 16
Total Active Listings 156 164 158
Total Sales 44 67 79
Sales/Listings Ratio 28.2% 40.9% 50.0%
-
20
40
60
80
100
120
140
160
180
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2015 Total Active Listings vs. Total Sales
Total Active Listings
Total Sales
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Active Listings Year-to-Year by Map Area 2013 2014 2015
Central Torrance 30 36 29
South East Torrance - West 5 8 12
Hollywood Riviera 17 21 16
South Torrance 15 19 16
Southwood 7 7 8
West Torrance 9 13 9
N Torrance - West 13 28 20
N Torrance - East 5 12 10
Old Torrance 23 22 22
South East Torrance - East 13 17 16
Total Active Listings 137 183 158
0
20
40
60
80
100
120
140
160
180
200
2013 2014 2015
Active Listings Year-to-Year by Map Area: March
Central Torrance
South East Torrance - West
Hollywood Riviera
South Torrance
Southwood
West Torrance
N Torrance - West
N Torrance - East
Old Torrance
South East Torrance - East
Total Active Listings
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Months of Inventory by Map Area Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Central Torrance 5.4 1.9 2.4
South East Torrance - West 2.7 8.5 1.3
Hollywood Riviera 5.0 2.3 1.2
South Torrance 2.8 2.6 16.0
Southwood 3.0 1.0 2.7
West Torrance 2.4 4.3 3.0
N Torrance - West 2.8 2.2 1.8
N Torrance - East 2.0 1.4 1.3
Old Torrance 5.0 1.8 1.8
South East Torrance - East 5.7 10.5 2.3
-
2.0
4.0
6.0
8.0
10.0
12.0
14.0
16.0
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2015 Months of Inventory by Map Area
Central Torrance
South East Torrance - West
Hollywood Riviera
South Torrance
Southwood
West Torrance
N Torrance - West
N Torrance - East
Old Torrance
South East Torrance - East
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Months of Inventory Year-to-Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2013 2.6 2.7 1.5 1.6 1.8 2.0 1.9 2.2 2.0 2.3 2.0 1.0
2014 2.0 2.0 2.0 2.2 2.1 3.0 2.1 2.1 2.7 2.2 2.3 1.8
2015 3.6 2.5 2.0
-
0.5
1.0
1.5
2.0
2.5
3.0
3.5
4.0
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Months of Inventory Year-to-Year
2013
2014
2015
Outlook for April
According to MLS data for March, the Torrance residential real estate market produced 79 closed escrows, posted a 50% sales/listing ratio, and increased the market median sales price to $620K. Month-over-month comparison revealed several double digit improvements concerning the overall trending pattern of real estate activity in the Torrance marketplace. Given the aforementioned, and the recent report by C.A.R. citing “the shortage in housing units relative to demand, along with the attractive rate environment, pushed home prices higher”, it seems reasonable to conclude this behavior will continue for the next 2-3 months.
See http://www.car.org/newsstand/newsreleases/2015releases/march2015sales?view=Standard
When did you last weigh the pros and cons of renting versus owning real estate?
http://www.car.org/marketdata/currentresearch/rentvsbuy2011/ Your recap…
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Month-to-Month Comparison Feb 2015 Mar 2015 Delta (qty) Delta (%) Increase Decrease
Total Sales 67 79 12 17.9%
Median Sales Price 610,000 620,000 10,000 1.6%
Median Days to Sell 32 37 5 15.6%
Listings 164 158 -6 -3.7%
Sales/Listing Ratio 40.9% 50.0% 9.1% 22.2%
Months of Inventory 2.5 2 -0.5 -20.0%
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