What the difference between asking and closing means for you.
When asking prices sit above closed prices, the real question is how much room you have to work with. Last month in Oakland County, MI, the median list price was $419,900 and the median sold price was $370,000, so I pay close attention to that spread.
The market is giving me a clear pricing signal. Last month, homes were listed at a median of $419,900 and sold at a median of $370,000, which tells me closed value still needs to guide the conversation more than wishful asking.
I also look at the 99.8% sold-to-list price as a sign that well-matched homes are still getting close to asking when they are priced correctly. In Oakland County, MI, that keeps the focus on precision rather than chasing a headline number.
Review your price against recent closed value before you commit. Keep your expectations tied to what has actually sold. And if you are buying, use the gap between list and sold as a reminder to stay disciplined rather than overreacting to the first number you see.
