Know when to hold firm and when to adjust
You are deciding whether to hold your price or adjust quickly once your home hits the market. In Northridge, CA, I anchor that decision to how long a typical sale took recently and how closely buyers paid to asking.
Here is the constraint I plan around based on the previous 30 days a typical sale took 40 days last month in Northridge, CA, and accepted deals landed at about 99.5% of asking. Supply also stood at 1.87 months recently. This changes your plan because you need a time-based decision rule before emotions creep in. Some metrics were not reported for this period. What is clear is that buyers have been paying close to asking, yet homes still took weeks to close out. That combination usually rewards sellers who launch clean and credible, then use early showing and feedback to confirm the price is working. Decide your adjustment triggers before you list if you are not seeing serious traction early, I would rather correct in one deliberate move than drift past the typical 40-day sale timeline. Price and position the home so it can credibly achieve a result near 99.5% of asking, because that is where recent accepted deals clustered. Use the low supply figure 1.87 months to stay confident in your value, but still protect your timeline by preparing for negotiations that keep the net where you need it.
About Faye Daroeian
Faye Daroeian is a licensed Real Estate Professional affiliated with RE/MAX One, specializing in the Northridge market. With a focus on strategic marketing and deep local knowledge, Faye Daroeian provides clients with expert guidance in navigating complex real estate transactions. View full profile →
