A smarter way to compare asking and sold levels
When a listing comes up in Fredericksburg, TX, I want to know how far the price stretches beyond recent closings. Last month, the typical asking price was $712,500 and the typical sold price was $522,000, so that gap is impossible to ignore.
Last month, Fredericksburg, TX had a typical asking price of $712,500 and a typical sold price of $522,000. I use that spread to keep the conversation honest, because asking price alone does not tell the full story.
For buyers, this is where discipline matters. I would compare the home to recent closings, not just to other listings, so I do not overvalue the first thing that catches my eye.
For sellers, I would make sure the number is defensible from the start. That is how you keep attention focused on the home instead of forcing the market to question the price.
