What matters most is speed, clarity, and clean terms.
You are trying to decide how aggressive your offer needs to be so you do not overpay, but you also do not miss the house. My answer in Monterey Park, CA, you win by being easy to say yes to. A typical sale landed at 99.9% of asking last month, so most accepted deals were close to the list price rather than wildly discounted. That is the baseline I use when I help you choose price and terms.
If you only remember one closed data point right now, make it this supply was 2.91 months last month. Limited selection usually means the best homes do not wait around for a hesitant buyer. The practical impact is timing. A typical home took about 30 days last month, which means sellers are used to a steady pace and may favor buyers who can keep the process smooth. Some metrics were not reported for this period. Even so, you can still make a smart offer plan by aligning to what the market has been rewarding near-asking outcomes and a predictable closing pace. Strategy Decide your walk-away number before you tour, because recent accepted deals have been close to asking at about 99.9% last month. Move quickly on showings and paperwork, since the typical timeline last month was about 30 days and you do not want your offer delayed by avoidable steps. Keep your terms clean and easy to verify so the seller does not feel they are signing up for uncertainty.
