You do not need to rush blindly, but you do need to stay realistic about competition
If you are trying to figure out how aggressive your offer needs to be, I would stay calm and stay precise. In Monterey Park, CA, recent closings landed at 99.7% of asking and the typical sale took 25 days last month, which tells me there was still competition but not a market that rewarded sloppy decision-making.
The answer is not to overreact. Monterey Park, CA had 16 closed sales last month against 60 active listings, and supply stood at 2.5 months, so I would expect buyers to compete on the right homes while still having enough choice to be selective.
That balance is important when you are deciding how far to stretch. A typical pending listing over the last three months took 27 days to move under contract, but new listings over that same stretch had a typical 2-day market time, which tells me fresh listings can draw quick attention even though not every home sells instantly.
Write around the homes that fit recent closings, not just the freshest listing photos. Move quickly on the best match, but compare it against actual sold prices before you commit. In Monterey Park, CA, I would also keep backup options ready so you are not forced into a weak decision if one seller pushes too hard.
