If I had to summarize the Torrance market for October in one line, I would say, "Prices held steady, interest rates took a breather, and rents quietly increased." There weren't any dramatic changes, but looking closely, the direction is quite clear for the month.

First, let me clarify the criteria. This article is based solely on data released in mid-November, and I have included the sources and reference months in each sentence.

The most recent sales data for Torrance was compiled by Houzeo based on CRMLS (California Regional MLS) figures for October. The median sale price in October was $1.23 million, which is reported to be a 0.9% increase from a year ago.

A 0.9% increase is essentially close to being flat. The fact that prices have held steady in a situation where interest rates exceed 7% indicates that many homeowners are not putting their properties on the market.

According to the same data, there were 131 listings in October, which is the same as this time last year. The average selling period was 48 days, which is reported to be 2.04% shorter than a year ago.

From the numbers alone, the market is neither freezing nor heating up. However, 48 days is definitely a different atmosphere compared to a few years ago when offers would flood in within a week.

One point to note is that home price statistics vary by company, so even within the same city, the figures can differ significantly.

For example, Zillow estimates the typical home value in Torrance at around $1.1 million as of August. This is not the median transaction price but an estimated value, so it shouldn't be directly compared to the CRMLS sales figures above.

Therefore, I recommend looking at trends within the same source rather than judging based on a single company's number. By that standard, Torrance appears to be reading slightly upward from a flat position.

Let's broaden the view to the entire county. According to a report released by the California Association of Realtors (C.A.R.) on October 19, the median price in LA County was $994,670.

This figure represents a 5.0% increase from August and a 1.2% increase from a year ago. However, the transaction volume in LA County for the same month decreased by 10.9% compared to last year.

Prices are rising while transactions are declining, reflecting a pattern similar to Torrance. This indicates that both buyers and sellers are being cautious.

Unfortunately, the C.A.R.'s October report has not yet been released as of the time of writing this article. Since the September report was released on October 19, it is likely that the October figures will come out after mid-November.

The most noticeable change in October was actually the interest rates. According to Freddie Mac's weekly survey, the 30-year fixed mortgage rate rose to 7.4% at the beginning of October, marking the highest level in nearly three years.

Since then, it has been on a downward trend. On October 22, it was 7.32%, on October 29 it dropped to 7.24%, and by November 5, it fell to 7.18%, marking three consecutive weeks of decline.

However, compared to a year ago, it is still high. In early November last year, the same survey showed the 30-year fixed rate at 6.22%.

To illustrate how much of a difference this makes, I did a simple calculation. Assuming a $1.23 million home with a 20% down payment, borrowing $984,000 on a 30-year fixed mortgage.

At a rate of 7.18%, the principal and interest would amount to about $6,666 per month. If it were 6.22%, it would be around $6,039, meaning a difference of over $600 a month.

In contrast, compared to the peak of 7.4% at the beginning of October, it has decreased by nearly $150 per month. While this may not seem significant, over 30 years, it adds up to a considerable amount.

The rental market has shown a slightly clearer movement than home sales. According to RentCafe (Yardi Matrix data), the average rent in Torrance updated on November 1 is $2,603, which is a 4.48% increase from $2,491 a year ago.

By type, studio apartments are at $1,773, one-bedroom units at $2,296, and two-bedroom units at $2,968. The two-bedroom units are just shy of the $3,000 mark.

It is interesting to note that while home prices have moved within 1%, rents have increased by around 4%. It seems reasonable to conclude that demand that has been postponed due to high interest rates is lingering in the rental market.

If you are a tenant, you should also be aware of the rent increase cap. Torrance does not have a separate city rent control ordinance, so state law AB 1482 often applies.

According to the LA County Department of Consumer and Business Affairs, the cap for the LA area will be 8.7% starting August 1, 2026. This is the sum of the basic 5% plus the LA area inflation rate of 3.7%.

However, buildings less than 15 years old or certain single-family homes may be exempt, making the conditions quite complex. It is advisable to check your lease, landlord notices, and the county consumer affairs guidance to see if your home is affected.

So, should you buy now or wait? The downward trend in interest rates is favorable for buyers, but if rates drop further, the pent-up demand could surge and push prices up, which is a concern.

The fact that the selling period is 48 days also suggests that there is still room for negotiation. However, since the number of listings has not increased compared to last year, the options for selecting a desirable home are limited.

If I were currently looking for a home, rather than trying to predict interest rates, I would first determine a monthly payment that I can afford. If a good property comes up within that range, I would act, and later consider refinancing if rates drop sufficiently.

If you are a tenant, make sure to check whether the increase at your renewal next year falls within the 8.7% cap. Once the C.A.R. October report is released, I will compare the trends in Torrance and LA County again.