The market is strong, but strong does not mean you get to throw a dart at the ceiling and call it pricing.
Wondering if you can name your price and let the market do the heavy lifting in Mountain View, CA? My answer is no - sellers still have leverage, but recent numbers say the smartest play is strategic pricing, not wishful thinking wearing expensive shoes.
Last month, supply in Mountain View, CA stood at 1.93 months, homes sold in 8 days, and accepted offers reached 108.8% of asking. That is strong footing for a seller. At the same time, the typical asking price for active listings was $1,498,000, down 7.3% from the prior month, while the recent sold price was $1,952,500. Here is my read a seller's market does not excuse sloppy pricing. When the typical asking price for active homes sits below the recent sold price, I see one clear lesson - buyers are still competing for the right homes, not blindly applauding every number a seller types into the MLS at midnight. Over the last 3 months, 10 new for-sale properties had a typical asking price of $3,939,000 and a typical 14 days on market, while 10 pending homes had a typical asking price of $3,549,000 and a typical 8 days. Faster movement gets my attention. Price from the evidence, not from your favorite neighbor's opinion. Prep the home before launch so buyers feel urgency, not homework. Watch the first week like a hawk because 8 days is not a long runway. If the early response is soft, adjust quickly instead of composing a dramatic monologue about "waiting for the right buyer."
About Charlie Giang
Charlie Giang is a licensed Real Estate Professional affiliated with Charlie Giang, specializing in the Mountain View 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 →
