I would balance buyer demand with the recent distance between list prices and closing prices.
If you are stuck between listing high and listing right, I would let the recent closing numbers settle that question. In Banning, CA, homes recently closed at a typical price of $400,000 while the typical asking price sat at $415,000.
That pricing gap works alongside a market with 3.8 months of supply and a typical sale timeline of 35 days in Banning, CA. Recent accepted offers averaged 98.9% of asking, which tells me buyers are close, but not careless. Sellers still have an opening here, just not a blank check. I would use that to avoid a common mistake. When a seller sees low supply, it is easy to assume the price can stretch further than the market supports. But the recent closing pattern says buyers are still negotiating within reason, and that makes accurate pricing one of the strongest tools you have. Set your initial number near the recent closing range. Make the home show at its best before launch. Treat the first few weeks as your best chance to capture serious attention.
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So Cal Homes And Estates is a licensed Real Estate Professional affiliated with Exp Realty Of California Inc., specializing in the Banning 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 →
