The newest list price gives me a cleaner read on how ambitious the market is.
When asking prices climb, I want to know whether the market is still meeting them. In Bloomfield Hills, MI, last month the typical list price reached $995,000, so I would pay close attention to how each home is priced against its competition.
Last month, the typical list price was $995,000 in Bloomfield Hills, MI. That tells me sellers are starting from a higher bar, and buyers need to stay grounded when they compare options.
I would not assume every higher asking price is justified by the market. I would compare the list price to recent closings and decide whether the home is priced for a quick response or for a longer wait.
Check how each home stacks up. Watch the first round of activity. If the response is thin, adjust before the listing gets stale.
