Recent closings can help buyers separate a fair number from an inflated one.
If the prices you are seeing feel all over the place, you are not imagining it. In Fontana, CA, I would use recent closings as the filter, because active asking prices are running higher than what the typical home actually closed for.
The recent pricing picture is useful because it gives buyers a real benchmark. Over the previous 30 days, the typical asking price was $669,900, while the typical closed price was $620,000 in Fontana, CA. A typical sale took 26 days, and supply stood at 2.54 months, so there is still pressure to be ready.
That pressure should not push you into bad math. Recent offers averaged about 100.2% of asking, which shows that strong, well-priced homes are still holding up, but not every listing deserves that treatment. I would compare each home against recent closings first and decide from there how serious it really is.
Use recent sold numbers to set your value range before you tour. Narrow your attention to homes that fit both your budget and the recent closing pattern. When a price feels inflated, move on quickly instead of trying to force the numbers to work.
