Low supply helps, but the wrong asking number can still slow you down.
If you are trying to decide how aggressive you can be on price, I would tell you not to confuse seller leverage with unlimited pricing freedom. Farmingdale, NY still showed low supply recently, but the stronger strategy is to use that leverage carefully instead of daring the market to prove you wrong.
Last month, Farmingdale, NY had 0.93 months of supply, a typical active asking price of $750,000, and a typical sold price of $730,000. Homes that sold did so in about 28 days, while active listings were sitting at a typical 43 days. That split matters.
Here is how I read it. Well-positioned homes were moving, but not every active seller was getting the same response. A lower supply backdrop helps, yet the difference between the closed timeline and the active timeline tells me price and fit still matter a lot in Farmingdale, NY. That is why I would rather enter sharp than chase the market after a slow start.
Set your opening price where buyers can justify immediate action. Use the recent sold pace as your benchmark, not the slowest active example. Watch the first two weeks closely for showing volume and feedback. If the market is not validating the number, make the correction early.
