I focus on the asking price, the closing price, and the gap between them.
If you are weighing a pricing decision in Denville, NJ, the main question is whether the market will support your number. The recent data says it can, but only when the price is grounded in what buyers are actually paying.
Last month, the typical asking price was $809,000 and the typical sold price was $625,000. That gap is the part I pay closest attention to, because it tells me sellers cannot rely on wishful pricing and still expect the same result.
For sellers, I would treat that spread as a pricing check, not a reason to overreact. The better move is to lead with a price that fits the market instead of chasing attention and then adjusting later.
Set the price with purpose. Watch the gap between asking and closing. Use Denville, NJ comps carefully.
