The goal is to attract real demand without leaving room for avoidable price cuts.
If you are wondering whether you can push your asking price or need to stay disciplined, my answer is to price for the market you have, not the one you wish you had. In Richardson, TX, recent offers landed about 96.1% of asking last month, so I would not build a pricing plan around full-price expectations by default.
Here is the constraint I plan around based on the previous 30 days recent offers landed at 96.1% of asking. That matters because sellers in Richardson, TX were not regularly getting every dollar of list price. A typical closed price was $432,500 last month, while active listings carried a typical asking price of $449,250. Where people get this wrong is starting high and assuming the market will close the gap for them. The market was still labeled a seller's market, and supply stood at 2.95 months last month, but that does not erase the difference between list price and what buyers actually paid. If you only remember one closed data point right now, make it this a typical sale took 31 days last month. That is not a signal to panic, but it is a reminder that pricing and presentation need to work together. Over the last three months, the typical asking price was $443,950 and the typical closed price was $422,500. My recommendation is direct. Set your opening price against recent closed results first, then test it against the current asking field. Build in room for negotiation without forcing a later reduction. If your home competes with properties already cutting price, deal with that reality before you list, not after your showing activity cools off.
About Mercy Le Fevre
Mercy Le Fevre is a licensed Real Estate Professional affiliated with eXp Realty, specializing in the Richardson market. With a focus on strategic marketing and deep local knowledge, Mercy Le Fevre provides clients with expert guidance in navigating complex real estate transactions. View full profile →
