June 2014 Torrance Real Estate Market Trends Update

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Torrance real estate statistics and analysis for June 2014. Includes homes sales, listings and historical performance on a month to month and year over year basis.

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June 2014 Torrance Real Estate Market Trends Update

  1. 1. Torrance Residential Real Estate Market Conditions June 2014
  2. 2. Table of Contents Key Statistics for June Sales 2014 Residential Sales Stats Year-to-Year Total Sales by Map Area Median 2014 Median Sales Stats Year-to-Year Median Sales by Map Area Listings 2014 Active Listings by Map Area 2014 Total Active Listings vs. Total Sales Year-to-Year Active Listings by Map Area Inventory 2014 Months of Inventory by Map Area Year-to-Year Months of Inventory Outlook for July About Hady Chahine Contact Information
  3. 3. Key Statistics for June Back to Table of Contents = trending positive = trending positive = trending negative = trending negative Month-to-Month Comparison May 2014 Jun 2014 Delta (qty) Delta (%) Increase Decrease Total Sales 94 73 -21 -22.3% Median Sales Price 613,000 659,000 46,000 7.5% Median Days to Sell 31 24 -7 -22.6% Listings 200 219 19 9.5% Sales/Listing Ratio 47.0% 33.3% -13.7% -29.1% Months of Inventory 2.1 3.0 0.9 42.9% Monthly Comparison Year-to-Year June 2013 Jun 2014 Delta Delta Increase Decrease Total Sales 90 73 -17 -18.9% Median Sales Price 618,500 659,000 40,500 6.5% Median Days to Sell 21 24 3 14.3% Listings 186 219 33 17.7% Months of Inventory 2.0 3.0 1 50.0%
  4. 4. Back to Table of Contents Total Sales Month-to-Month by Map Area Apr May Jun Central Torrance 10 22 10 South East Torrance - West 3 2 5 Hollywood Riviera 10 7 9 South Torrance 9 7 6 Southwood 3 3 4 West Torrance 4 13 9 N Torrance - West 14 15 9 N Torrance - East 8 10 4 Old Torrance 8 8 10 South East Torrance - East 5 7 7 Total Sales 74 94 73 0 10 20 30 40 50 60 70 80 90 100 Apr May Jun 2014 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
  5. 5. Back to Table of Contents Total Sales Year-to-Year by Map Area 2012 2013 2014 Central Torrance 18 16 10 South East Torrance - West 9 2 5 Hollywood Riviera 5 20 9 South Torrance 6 8 6 Southwood 9 6 4 West Torrance 10 7 9 N Torrance - West 11 6 9 N Torrance - East 6 5 4 Old Torrance 8 14 10 South East Torrance - East 7 6 7 Total Sales 89 90 73 0 10 20 30 40 50 60 70 80 90 2012 2013 2014 Total Sales Year-to-Year by Map Area: June 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
  6. 6. Back to Table of Contents Median Sales Price Month-to-Month by Map Area Apr May Jun Central Torrance 492,450 557,500 554,500 South East Torrance - West 590,000 622,500 735,000 Hollywood Riviera 1,143,000 918,375 900,000 South Torrance 730,000 785,000 989,500 Southwood 725,000 685,000 526,250 West Torrance 677,500 725,000 690,000 N Torrance - West 546,500 545,000 538,000 N Torrance - East 532,500 530,500 526,500 Old Torrance 540,000 521,250 563,500 South East Torrance - East 506,000 665,000 749,000 Market Median Sales Price 627,000 613,000 659,000 - 200,000 400,000 600,000 800,000 1,000,000 1,200,000 Apr May Jun 2014 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
  7. 7. Back to Table of Contents Median Sales Price Year-to-Year by Map Area 2012 2013 2014 Central Torrance 426,000 560,000 554,500 South East Torrance - West 310,000 570,500 735,000 Hollywood Riviera 768,000 923,750 900,000 South Torrance 775,000 647,000 989,500 Southwood 640,000 658,250 526,250 West Torrance 805,000 740,000 690,000 N Torrance - West 459,000 492,500 538,000 N Torrance - East 492,500 540,000 526,500 Old Torrance 449,950 508,500 563,500 South East Torrance - East 535,000 710,000 749,000 Market Median Sales Price 520,000 618,500 659,000 - 100,000 200,000 300,000 400,000 500,000 600,000 700,000 800,000 900,000 1,000,000 2012 2013 2014 Median Sales Price Year-to-Year by Map Area: June 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
  8. 8. Back to Table of Contents Active Listings vs. Total Sales by Map Area Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Central Torrance 17 18 25 26 32 36 South East Torrance - West 9 9 8 6 15 17 Hollywood Riviera 14 13 18 17 23 23 South Torrance 8 13 17 17 14 18 Southwood 4 4 4 7 12 12 West Torrance 10 10 11 15 16 13 N Torrance - West 20 19 23 26 18 23 N Torrance - East 7 8 10 6 7 12 Old Torrance 18 16 19 25 38 39 South East Torrance - East 12 13 15 21 25 26 Total Active Listings 119 123 150 166 200 219 - 5 10 15 20 25 30 35 40 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2014 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
  9. 9. Back to Table of Contents Active Listings vs. Total Sales by Map Area Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Central Torrance 17 18 25 26 32 36 South East Torrance - West 9 9 8 6 15 17 Hollywood Riviera 14 13 18 17 23 23 South Torrance 8 13 17 17 14 18 Southwood 4 4 4 7 12 12 West Torrance 10 10 11 15 16 13 N Torrance - West 20 19 23 26 18 23 N Torrance - East 7 8 10 6 7 12 Old Torrance 18 16 19 25 38 39 South East Torrance - East 12 13 15 21 25 26 Total Active Listings 119 123 150 166 200 219 Total Sales 60 63 77 74 94 73 Sales/Listings Ratio 50.4% 51.2% 51.3% 44.6% 47.0% 33.3% - 50 100 150 200 250 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2014 Total Active Listings vs. Total Sales Total Active Listings Total Sales
  10. 10. Back to Table of Contents Active Listings Year-to-Year by Map Area 2012 2013 2014 Central Torrance 50 23 36 South East Torrance - West 16 11 17 Hollywood Riviera 19 28 23 South Torrance 19 17 18 Southwood 13 13 12 West Torrance 28 15 13 N Torrance - West 43 28 23 N Torrance - East 20 12 12 Old Torrance 38 22 39 South East Torrance - East 17 17 26 Total Active Listings 263 186 219 0 50 100 150 200 250 300 2012 2013 2014 Active Listings Year-to-Year by Map Area: June 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
  11. 11. Back to Table of Contents Months of Inventory by Map Area Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Central Torrance 2.1 2.6 2.5 2.6 1.5 3.6 South East Torrance - West 1.3 3.0 1.3 2.0 7.5 3.4 Hollywood Riviera 2.3 1.3 3.0 1.7 3.3 2.6 South Torrance 2.0 2.6 2.4 1.9 2.0 3.0 Southwood 1.0 1.3 1.0 2.3 4.0 3.0 West Torrance 1.1 2.0 1.6 3.8 1.2 1.4 N Torrance - West 1.8 1.7 1.9 1.9 1.2 2.6 N Torrance - East 7.0 4.0 1.4 0.8 0.7 3.0 Old Torrance 2.0 1.2 2.7 3.1 4.8 3.9 South East Torrance - East 12.0 3.3 1.4 4.2 3.6 3.7 - 2.0 4.0 6.0 8.0 10.0 12.0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2014 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
  12. 12. Back to Table of Contents Months of Inventory Year-to-Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2012 3.7 5.4 3.2 3.3 3.0 3.0 2.7 2.8 2.4 2.1 2.1 1.8 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 - 1.0 2.0 3.0 4.0 5.0 6.0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Months of Inventory Year-to-Year 2012 2013 2014
  13. 13. Outlook for July In closing, the Torrance real estate market performed well during the month of June with a 7.5% increase in the median sales price, or $46K, and a 9.5% jump in total listings, from 200 in May to 219 in June. Also, the median days to sell dropped by 22.6% or 7 days. Of course, the flip side to this coin was the drop in total sales, sales/listing ratio, and the months of inventory. Overall, however, I consider the month of June a success for the Torrance RE market given the former performance measures far outweighed the latter. How should you view real estate opportunities in July? you ask. Personally, as mortgage money continues to remain historically inexpensive I would capitalize on the opportunity to buy or sell assuming the conclusion of a thorough analysis reinforces this kind of decision. For questions, please feel free to call or email me anytime. I always find it a pleasure to help others in pursuit of achieving their real estate objectives. Your recap… Back to Table of Contents Month-to-Month Comparison May 2014 Jun 2014 Delta (qty) Delta (%) Increase Decrease Total Sales 94 73 -21 -22.3% Median Sales Price 613,000 659,000 46,000 7.5% Median Days to Sell 31 24 -7 -22.6% Listings 200 219 19 9.5% Sales/Listing Ratio 47.0% 33.3% -13.7% -29.1% Months of Inventory 2.1 3.0 0.9 42.9%
  14. 14. Back to Table of Contents  Serving South Bay Home Buyers and Sellers Since 2001  RE/MAX Top 4 Team in California – 2012  RE/MAX 100% Club - 2011  Shorewood Realtors Top 5% in Overall Sales 2001-2006, 2008-2010 About Hady Chahine…
  15. 15. The information being provided by CARETS (CLAW, CRISNet MLS, DAMLS, CRMLS, i-Tech MLS, and/or VCRDS) is for the visitor’s personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (IDX) program of CARETS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. Back to Table of Contents Listings MLS BLOGWebsite

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