You can spot an overpriced listing in about ten seconds, and it has nothing to do with the price itself.
A home priced correctly does not sit. The market answers within roughly two weeks. When a listing goes quiet, the listing itself starts telling on the seller.
Three tells. Days on market well past your local median. A history of repeated small price cuts rather than one decisive drop. And back on market, which usually means a previous escrow fell apart. In Orange County the median sits around 48 days, so compare everything to that.
Sitting does not always mean bad. Sometimes the photography is poor, sometimes it launched over a holiday, sometimes the last buyer simply lost their financing. Those are opportunities, not warnings.
So ask one question before you assume anything. Why is this still here? The answer is worth more than any number on the listing page.
Days on market is published almost everywhere.
Send me a Southern California address and the word PRICED, and I will read its history for you.
The short version
- You just have to know which line to read.
- It is never the price.
- Days on market well past the local median.
- A history of price cuts, not one big drop.
- Back on market after a failed escrow.
- Orange County median is around 48 days. Compare everything to that.
- Find out why it sat before you decide what it means.
Talk it through with Kini
Kini will run it with you on your real budget, anywhere in Orange, Los Angeles, Riverside or San Bernardino County. No charge and no pitch.
Book a consultation or call or text (323) 320-1725. See this month's prices for your county.