What recent asking prices and supply mean before you choose your number
If you are deciding where to set your asking price, do not start with optimism alone. My rule in Leonard, MI is simple price to the market that actually showed up recently, and that market still favored sellers with 2.5 months of supply last month.
One number to respect from recent data is the typical asking price for active homes $499,500 last month in Leonard, MI. At the same time, the typical asking price on newly listed homes was $395,000, and only 3 new properties came to market over the previous 30 days. That matters because supply stayed limited, but asking prices did not move in one direction across every category. Active homes carried a typical asking price of $499,500 last month, down 19.8% from the prior month, while newly listed homes came out at $395,000, down 1.1% from the prior month. I read that as a clear warning against stretching your number just because overall supply is still tight. Here is the practical move. Start with the segment your home actually fits, then compare your plan against the recent active-home benchmark and the recent new-listing benchmark instead of anchoring to an older peak. If your property belongs in the higher end of Leonard, MI, page 16 shows recent asking prices in the last 3 months ranged from $279,900 to $950,000 for new listings, with a typical asking point of $500,000. Keep this disciplined. A typical active listing had been available for 70 days last month, and that timeline was 28.6% longer than the prior month. I recommend tightening presentation before you launch, choosing a list price you can defend immediately, and building your first two weeks around serious exposure rather than future price cuts. Some metrics were not reported for this period, so I would not base your pricing decision on closed-sale figures that were not provided. Where people get this wrong is assuming a seller-friendly market gives every home equal leverage. It does not. With 10 active listings at month-end, 8 homes already under contract, and recent pending homes carrying a typical asking price of $542,500, the right move is to enter the market prepared, not inflated. Set your number with evidence, preempt buyer hesitation with clean condition and clear disclosures, and treat early showing feedback as pricing feedback, not noise.
About Ed Brittingham
Ed Brittingham is a licensed Real Estate Professional affiliated with REMAX Eclipse, specializing in the Leonard market. With a focus on strategic marketing and deep local knowledge, Ed Brittingham provides clients with expert guidance in navigating complex real estate transactions. View full profile →
