Why the last closed price still matters.
If you are trying to protect your position, I would start with the sold price and the time it took to get there. In Arcadia, CA, last month's typical sale price was $1,206,440 and the sold-to-list price was 99.4%, so negotiation needs to be grounded, not aggressive for its own sake.
Last month, the sold-to-list price was 99.4% and the typical sale price was $1,206,440. I would use both numbers when I talk strategy in Arcadia, CA.
That combination tells me there is not much room for careless pricing or careless offers. I would keep expectations close to the actual market and avoid assuming there is a wide discount window.
Stay close to the recent closings. Watch the first response. Keep your leverage realistic.
