3 Things That You Should Know about the Torrance Real Estate Market

Photo Credit: iStock Photo

Photo Credit: iStock Photo

Situated in the South Bay, in the southeastern area of Los Angeles County, Torrance is a quiet and beautiful city that will help you discover another side of Cali, which has very little to do with hectic traffic, groups of noisy tourists, a sense of constant agitation and elevated stress levels. Torrance is something different.

Here you’ll be able to discover the wonderful, laid-back Californian lifestyle and make the most of the gorgeous surroundings without being bothered by stressors that are usually involved by big, overcrowded cities. Located only 2.4 kilometers (1.5 miles) from the beaches on the mesmerizing Pacific Ocean, Torrance lets its visitors enjoy low humidity levels, sea breezes and friendly temperatures year-round.

Discover the Most Important Torrance Real Estate Trends

Dreaming about finding your spot in a quaint haven that will let you relive your romance with the ocean and the sandy beaches time after time? If that’s the case, just plan to spend your holidays in Torrance. Or better yet, rely on Apartment Hunterz to spot the perfect rentals in this city. A fully-furnished apartment situated in this region may turn out to be much more comfortable and convenient than your average hotel room. Before making a huge step in this direction, here are a few things that you should know about the local real estate market.

The median price per square foot in this city is estimated at $410 and displays a 5.9% increase compared to the numbers reflected last year, during the same timeframe, according to Trulia. According to the same source, between July 14th and October 14th, the median home sales price was in the $588,000 range (this info is based on exactly 301 home sales recorded in this interval). The home sales price has grown by 8.8% (or $47,500) compared to the same period in 2013. The average listing price for the last week of October was in the $627,107 range and reflects a 0.3% decrease compared to the numbers listed a week before. All in all, homes located in some of the most sought-after neighborhoods range from $559,000 to $675,000 and can actually meet the financial possibilities of a large number of American families seeking a great new roof over their heads in the sunny state of Cali.

Should You Rent or Should You Buy a Place?

At some point, you might get serious about your relationship with Torrance. You may realize that you miss its gorgeous surroundings and peaceful ambiance more than you could ever imagine. In this case, you could either buy a place here or rent a house or an apartment. If you can’t afford to spend a few thousands of dollars on a beautiful piece of real estate, don’t hesitate to start looking for fantastic rentals in your price range.

A small 1-bedroom apartment can cost you around $1,200 per month; or you could always choose to add $1,000 to this amount to be able to move in a much more spacious 2-bedroo condo located on Loytan St. No matter what you choose to do, keep in mind that Apartment Hunterz can help you spot the best deals on the local real estate market rapidly and conveniently.

Nov 2014