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Is Torrance becoming a million dollar neighborhood?

Yes, it is true, more single family homes are breaking through the million dollar barrier. Due to record low, mortgage rates (which allow buyers to qualify for more) not enough homes for sale compared to the number of qualified buyers, millennials entering the market, and many people working out of their home looking for more space, we have a good old-fashioned, rip-roaring seller’s market.

Not all homes will sell for a million dollars, however it is becoming more commonplace and prices are still rising. You don’t have to have a 2 story, 2,500 sqft home any more to hit that magic number anymore.

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