Market Statistics Can You Trust Them

Real Estate

Redfin, Zillow, Realist, realtor.com, and homes.com are providing consumers with an overwhelming amount of market data on home prices, sales and trends. But can you trust the data?

As a real estate professional I use all of these tools. Then, I compare the results. And then, I add the one thing none of those automated algorithm driven systems don’t have, my personal experience in my local market. I talk to home buyers and sellers everyday. I know how many offers are being submitted, if cash was a deciding factor in a transaction or was it flexibility on terms.

This week I received a “Market Report” from Zillow for the 90504 zip code. The report said the market was neutral. They described it as being not better or worse for either buyers or sellers. Well, let me tell you my personal experience and it ain’t neutral. The Real Estate Market for 90504 is a SELLERS market. Inventory is low, and prices have been rising. Many properties are going for significantly more than asking, and selling very quickly. Buyers are competing with multiple offers, some times as many as 10 other offers. 

As a real estate professional, I use all the tools available to me and my personal experience is the most valuable one. If you are considering selling your home or purchasing a home, I can provide you valuable insight into my market. As a Certified Negotiation Expert, and Accredited Property Valuation Specialist I can provide you with insights that algorithms can’t.

Call me to help you understand the current value of your home or to talk about what it takes to get your offer accepted in today’s real estate market. 

Joe McMahon

310-714-9703

Real Estate Market Statistics for Torrance CA 90504

Median Sale Price for the past 3 months $720,000

Median number of days on market is 10 days