If you are wondering how assertive to be on price, the recent numbers give a pretty clear answer.
Trying to decide whether you can price boldly and still get real traction in Los Altos Hills, CA? My answer is yes, but only if the asking price and the plan actually match the market that just closed, because recent offers landed at 101.9% of asking and a typical sale wrapped up in 13 days.
Recent closed activity gives sellers a real reason to stand a little taller. Supply stood at 1.67 months over the previous 30 days, the market was labeled a seller's market, and the typical sold price came in at $5,083,750. In plain English, Los Altos Hills, CA is not handing out sympathy discounts just because someone added a few extra zeroes to the list price. Here is the catch, because there is always a catch. The typical asking price for active homes was $8,988,000 last month, while the typical closed price was $5,083,750, so I would not confuse a strong market with a permission slip to float into outer space. In Los Altos Hills, CA, strong conditions reward sharp pricing and punish wishful thinking dressed up as strategy. I would start by lining up your pricing against recent closed reality, not just your favorite active listing. Then I would build your launch around speed, because homes that moved recently did not sit around waiting for everyone to find their calendar. Price to compete. Prep before you list. Make the first week count instead of treating it like a warm-up lap.
About Charlie Giang
Charlie Giang is a licensed Real Estate Professional affiliated with Charlie Giang, specializing in the Los Altos Hills market. With a focus on strategic marketing and deep local knowledge, Charlie Giang provides clients with expert guidance in navigating complex real estate transactions. View full profile →
