Both the Torrance townhome market and Torrance real estate in general may be poised to make a very quick comeback from the 2 months of low home sales due to the coronavirus. While prices have remained very strong the number of home sales dropped significantly. May saw a 60% drop in the number of home sales from the same month a year earlier. Having said that the number of pending homes sales shows that we may be set to recover very quickly. Pending townhome sales in Torrance jumped from just 3 in April to 13 in May (see chart below).
The number of pending sales citywide, regardless of home type, was even more impressive, jumping from 45 in April to 100 in May which should indicate a big rebound in June and July closed sales. See below chart for all home types.
View the current houses for sale in Torrance.
Compare that with Redondo Beach home sales and pending escrows for another idea of how quickly that’s rebounding. Redondo Beach saw 40 pending sales in April but only jumped to 55 in May. While Redondo Beach real estate is somewhat of a different animal, it does help show how strong the Torrance real estate market appears to be.