Recently, there has been a noticeable increase in inquiries from Korean families looking for neighborhoods with good school districts in the South Bay area. During consultations, many express similar reactions, saying, "It's much more expensive than when I looked a few years ago." Looking at the numbers confirms that this feeling is not incorrect.

According to Zillow data, the average home value in Torrance is approximately $1,116,000 as of May 2026. About five years ago, in early 2021, it was around $790,000, meaning it has increased by about 42% over the five years.

During the same period, the average increase across the United States is reported to be around 38-40%. Considering this, Torrance can be seen as a region that has experienced a slightly higher increase than the national average.

Looking at the yearly trends, from 2021 to the first half of 2022, prices surged sharply due to low interest rates and the rise of remote work during the pandemic.

However, from the second half of 2022 to 2023, the rapid interest rate hikes by the Federal Reserve led to a decrease in transaction volume and a noticeable slowdown in price increases, entering a correction phase. Starting in 2024, there has been a return to a gradual increase, but in the past year, there has been a slight decline of about 1.7%, indicating a period of stabilization.

Several factors contribute to Torrance's consistent strength in the market. The excellent public school district represented by the Torrance Unified School District remains a significant attraction for Korean families who prioritize their children's education. Additionally, the steady presence of aerospace and defense industry jobs in the nearby South Bay area, along with the limited supply of new single-family homes typical of small cities, supports the prices by focusing transactions on existing listings.

Future trends should be approached cautiously. If interest rates gradually ease, demand may revive, and a gentle upward trend could resume, but it is unlikely that we will see a surge like that of 2021-2022 again.

For Korean households, this is a time of significant consideration regarding whether to continue renting or to buy now. The slight adjustment over the past year may provide negotiating opportunities for buyers looking to live in the homes. Conversely, if considering selling for investment purposes, given the steady demand from school districts, it may be wise to monitor the market conditions rather than rush to sell.