I compare the latest closed price with the rest of the market picture.
If you want to understand where the market stands, start with what actually closed. In Yorba Linda, CA, the most recent sold price gives me the clearest read on what buyers were willing to pay last month.
The median sold price was $1,328,500 last month. That is the number I would anchor to before I talk about strategy, because it reflects real accepted pricing rather than wishful pricing.
The market also showed 100.6% of asking on closed sales. That combination tells me well-marketed homes still earned strong attention, and I would expect clean presentation to matter more than broad assumptions.
Anchor your decisions to closed numbers. Compare asking price against recent sold price. Keep your next step grounded in what the market already accepted.
