I am paying attention to the active list and what it says about range.
The active list tells me how wide the market is willing to stretch. In Gibsonton, FL, the recent active listings included prices from $42,000 to $409,900, and that range is the first clue I would use.
Active prices ranged from $42,000 to $409,900 last month. That spread tells me the market is working across very different property types and conditions, so I would be careful not to treat every home the same.
The median active list price was $325,000, which helps me keep the middle of the market in view. I would use that as the cleaner reference point before I react to the low end or the high end.
Start with the middle. Compare the home to recent actives. Stay disciplined when a range is wide in Gibsonton, FL.
