The clearest hint at what the market accepts.
When pending homes are moving, I pay close attention to the price level and the pace behind them. Last month, 50 homes went pending in Gold Canyon, AZ, and that is the kind of activity I use to judge current acceptance.
Last month, pending activity totaled 50 homes, and the typical pending price was $497,500. I see that as a strong anchor for what the market is still willing to take seriously.
For sellers, I would use that pending price as a real checkpoint before setting an asking price. It is far more useful than hoping a higher number will attract the right outcome on its own.
For buyers, I would use the pending count to anticipate where attention is likely to concentrate next. Homes priced near that level deserve faster judgment, because that is where acceptance is already showing up.
