If you are thinking about selling, price discipline matters more than wishful thinking right now.
Wondering if you can push your asking price and let the market sort it out? My short answer is no - not if you want a clean launch in San Carlos, CA. Over the previous 30 days, a typical asking price for active homes was $1,495,000, while a typical closed price landed at $2,838,444, and that gap is exactly why sloppy comparisons can get sellers into trouble. This is not a market for guessing, chest-thumping, or letting your house wear an overpriced costume to the party. I would make pricing decisions from recent sold homes first, then use current competition to fine-tune the strategy. In San Carlos, CA, the homes getting attention are not begging for it.
My read for sellers is simple recent closings carried a typical sale price of $2,838,444 last month, recent offers landed about 104.9% of asking, and a typical sale took 8 days last month. That is strong evidence that well-positioned homes are moving fast and getting paid, which is a lovely combination if you enjoy leverage and dislike unnecessary drama. The trap is using active prices as proof of value. Last month, the typical asking price among active listings was $1,495,000, and that figure sat 10.91% below the prior month, while the typical closed price changed only 0.41% from the prior month. I would not treat current asking prices as the whole story. I would treat them as the competition on the field, while recent closings tell me what buyers in San Carlos, CA actually agreed to pay when the gloves came off. Start with the most recent comparable closings, not your favorite listing down the street. Pressure-test your launch price against homes that went pending quickly, because over the last 3 months, pending homes had a typical asking price of $2,949,344 and a typical time to go pending of 13 days. Fix presentation before launch. Price to compete on day one. If the first week feels too comfortable, I would worry you left money on the table by scaring off the crowd that should have shown up immediately.
About Charlie Giang
Charlie Giang is a licensed Real Estate Professional affiliated with Charlie Giang, specializing in the San Carlos 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 →
