A smart purchase starts with what homes are actually doing
If you are trying to tell which listings are priced fairly, I would not stop at the sticker price. In Ontario, CA, the typical asking price last month was $665,000 while the typical closed price was $630,000, and that gap is exactly why buyers need context.
A typical sale took 32 days over the previous 30 days, and recent offers landed at about 99.8% of asking. That tells me buyers in Ontario, CA are not getting huge discounts just because a home starts high.
The better way to read value is to look at how a home compares with the rest of the current field and whether the condition supports the price. I would not assume a reduction or a high starting number automatically makes something a bargain.
Compare the home against realistic alternatives. Pay close attention to condition and overall fit before you decide the price is justified. Use the recent pace to stay alert, but let the quality of the opportunity drive the decision.
