Torrance Real Estate Market Update - October 2009

The Torrance average sales price decreased by 1.2 percent in October 2009 compared to October 2008, bringing the average price to $513,136The number of sales went down significantly. This drastic drop in sales last month, after continuous increase over last few months, might be a result of a decrease in the number of foreclosure sales in Torrance. Please note the number of sales is still larger on the month to month basis.

*All stats are compiled from the Multi Regional Multiple Listing Service. Information is deemed reliable but not guaranteed.

Increased sales, on the month to month basis, in Torrance reflect a stabilization of the South Bay real estate market as home buyers respond to increased affordability and more moderate prices. Average home price in Torrance continued to slide till January and rose in February, March and May and continued to rise as follows: December 2008 - $478,307, January 2009 - $451,563, February 2009 - $477,944, March 2009 - $519,707, April '09 - $458,037, May '09 - $514,395, June '09 - $506,104, July '09 - $508,543, August '09 - $505,433, September - $525,829.

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