Torrance CA Real Estate in 2016
By Krystyna Baty Ryan, HONESTY TRUST TECHNOLOGY SERVICE RESULTS
(Broker)
Torrance Real Estate in 2016Real estate market in Torrance CA recorded rising home prices and increased home sales in all categories. Helped by low mortgage interest rates, Torrance homebuyers often competed for houses and condos. Multiple offers were a common occurance in our local Torrance market. We continued to be in the seller's market due to the low inventory and low mortgage interest rates. Also the prospect of higher rates in 2017 prompted many buyers to enter the market. Average Torrance CA home price went up by 5%; number of sales also went up by 5%. lowest home sold at $215,000, the highest at $2.3M. Torrance Real Estate 2016 2015 Difference No. of sales 1117 1067 +5% Average Sales Price $701,947 $665,399 +5% Average Days on Market 45 48 -6% Real estate is local...
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