The real estate market in Torrance was a bit more stable than just about any other city in the South Bay with only a small drop in home sales. Torrance did see a decline in the number of home sales during the month with only 81 closed home sales compared with 99 a year earlier. Compared with many other cities that saw more than a 50% drop from the year earlier this wasn’t bad at all.
By the numbers - home Sales and Home Prices in the Hollywood Riviera
The Hollywood Riviera real estate market slowed down a bit as most communities in the South Bay as the uncertainties of the coronavirus kept both buyers and sellers down a bit.
Overall it was a fairly solid month in terms of home sales. April 2020 saw 9 homes close escrow. The median list price of the sold homes in the Hollywood Riviera was $1,099,000 with the median “sold” price being $1,075,000 indicating it was still definitely a sellers market. The average price per foot was $761 and the average days on market was only 44.
February was a very slow month for closed home sales in the Hollywood Riviera with only 8 homes sold during the month. That’s the fewest home sales in a month over the past 18 months other than December.
Over 90% of Hollywood Riviera home buyers start their search on the internet….so where are they looking? Most homebuyers begin their search by searching for area specific listings on search engines such as Google and Yahoo. Many begin actually looking for homes on the large national type sites such as Redfin, Zillow, Trulia and Homes.com, while many other seek the more personal local knowledge of realtor specific sites with more intimate knowledge of the areas they serve and the communities in which they live.
My goal is to go beyond those sites and provide every possible option during your home search as every home buyer and every search is different.
For those looking for the most independent ability to search feel free to visit our Hollywood Riviera MLS search page in which you can search for your dream home using the specific criteria that is important to you. There is no obligation or signup for this service and listings are continually updated. We hope you find it helpful.
For home buyers looking for the simplest way of searching for homes, I offer daily listing updates via email. Once you provide the details of your home search that are important to you, I’ll send you a daily listing update with new homes and homes with price changes that meet your exact search.
Real estate in the Hollywood Riviera saw another solid month in August 2019 with 14 home sales….all of which were single family homes. The average listing price for the month was $1,538,000 with the average sales price of $1,517,000 showing a slight slow down in the ongoing sellers market. The lowest priced sale of the month was $839,000 for niced sized 3 bedroom home right on PCH and the high sale of the mnth was $2,660,000 for a 3,370 sq foot beautifully remodeled home with great ocean views located at 103 Via Mesa Grande.