Recent closings and current asking prices are not telling the exact same story, and buyers need to notice that.
If you're comparing homes only by current asking price, I would slow that process down. In Woodbury, NY, active listings had a typical asking price of $1,364,000 last month, while the typical closed sale was $1,462,500, so buyers need to separate asking from actual market acceptance.
Last month, Woodbury, NY showed a typical active asking price of $1,364,000 and a typical closed price of $1,462,500. Recent accepted offers averaged 104.9% of asking. That tells me asking prices alone are not enough to judge value or leverage.
For a buyer, this means comparisons need to start with what has actually closed, then move to what is currently available. Active listings also had a typical 45-day timeline, while closed sales took 17 days. In Woodbury, NY, I would use that difference to avoid overreacting to listings that look attractive on price but are not tracking with what buyers are truly choosing.
Compare every target home against recent closings before you write. Use active listings as context, not as your only benchmark. Asking price is the opening number, not the final answer.
