Sellers should look past the headline number and study where recent closings actually landed.
If you are deciding how ambitious to be with your list price, I would resist the temptation to follow the boldest number on the market. In Moreno Valley, CA, the recent spread between asking prices and closed prices makes careful positioning far more persuasive than bravado.
Active homes recently showed a typical asking price of $578,761, while the typical closed price was $535,000 over the previous 30 days. Homes still closed at 100% of asking on average, and supply stood at 1.91 months. That mix tells me sellers can still expect serious attention, but only when the opening number is credible. A buyer may pay full asking, yet that does not mean every asking price will be embraced. In Moreno Valley, CA, I would read the market as supportive of well-prepared listings that enter cleanly and avoid leaving buyers to solve an obvious pricing problem. Audit your competition before you set the final number. Price for the response you want in the first week, not for the compliment you want from neighbors. Make sure condition, photos, and presentation can carry the story your price is telling.
About So Cal Homes And Estates
So Cal Homes And Estates is a licensed Real Estate Professional affiliated with Exp Realty Of California Inc., specializing in the Moreno Valley market. With a focus on strategic marketing and deep local knowledge, So Cal Homes And Estates provides clients with expert guidance in navigating complex real estate transactions. View full profile →
