Recent asking prices and closed prices help answer how much room you may really have.
If you are thinking about selling but do not want to guess on price, I would keep your starting number tied to what actually closed, not just what is listed. In Macomb Township, MI, the typical closed price last month was $432,500, while active homes were priced at $539,900 and recent offers came in at 99% of asking.
The short answer is that pricing discipline matters more than optimism. Last month, sellers in Macomb Township, MI saw a typical closed price of $432,500, while the typical asking price on active homes was $539,900 and the typical asking price on newly listed homes was $475,000. That spread tells me not every asking price is being validated by the final close. With supply at 2.1 months and a seller's market label in place, there is still clear leverage, but a home that starts too high can lose time, especially when active listings were taking a typical 57 days and closed sales took 38 days. Price from the recent closed range first, then test your condition and presentation against competing active homes. Watch the first round of showing activity closely. If response is soft, I would correct quickly rather than defend a number the market is not confirming.
About Ed Brittingham
Ed Brittingham is a licensed Real Estate Professional affiliated with REMAX Eclipse, specializing in the Macomb Township 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 →
