Sellers have support from low supply, but the first number still sets the tone
If you are debating whether the first list price really matters that much, my answer is yes. In Long Beach, IN, the latest typical asking price came in at $599,000 last month, and sellers do better when they start from current reality.
If you only remember one closed data point right now, make it the current asking-price midpoint in Long Beach, IN $599,000 last month. That figure was down 9.86% from the prior month, and it tells me buyers are responding to more grounded pricing.
This changes your plan because the market still leaned toward sellers with 1.67 months of supply last month. Low competition is an advantage, but it does not erase buyer judgment. The newest listings over the last three months still clustered between $495,000 and $695,000.
The one pending home was listed at $599,000 and took 40 days to secure a contract. In Long Beach, IN, that is a useful reminder that interest still has to be earned. Tight supply alone does not guarantee immediate action.
My advice is to set the opening number with discipline, prepare the home so buyers do not question the value story, and review showing response quickly in the first stretch. A strong first price supports leverage. A weak first price usually costs it.
