September 2024 Torrance Real Estate Market Trends for Sellers Downsizing

by Franco Martinez

Discover the latest real estate trends in Torrance for September 2024. With low inventory, quick sales, and high demand, now might be the perfect time to downsize and sell your home. Explore key market insights and how to maximize your sale in this strong seller’s market.

If you're looking to downsize and sell your home, it's important to understand how various real estate metrics relate to each other, so you can make informed decisions.

The Months Supply of Inventory is currently at a low 1.64 months, indicating a seller's market with high demand and limited homes for sale.

Over the past year, the Months of Inventory has increased by 16.31%, suggesting a shift towards a more balanced market. This could mean less competition for sellers, while still maintaining a favorable market overall.

Homes are selling in just 10 days, showing that sales are happening quickly in this market. This is great news for downsizing sellers who want to sell their home efficiently.

With a List to Sold Price Percentage of 102.3%, homes on average sell for above the asking price, indicating strong demand and the potential for a profitable sale.

The Median Sold Price in this market is a substantial $1,230,063, showing demand for higher-end homes, which could be advantageous for downsizing sellers with luxury properties.

In conclusion, the combination of low inventory, quick sales, high list-to-sold price percentage, and a strong median price suggests a compelling market for downsizing sellers. It might just be the perfect time to consider selling your home in this market.

If youre thinking about living in Torrance, or any other suburb we’d love to help! We can help you navigate the Los Angeles real estate market. Just give us a call, send us a text, email, or schedule a zoom call, and we’d love to help you make a smooth move to Los Angeles California!

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