The pricing range matters more than optimism when you are deciding how to enter the market
If you are wondering whether you can push your asking price or need to stay tight to the market, I would lean toward disciplined pricing. Monterey Park, CA still showed only 2.5 months of supply last month, but typical offers closed at 99.7% of asking, which tells me sellers had support without much room for careless overpricing.
I would answer the pricing question this way yes, there is seller leverage in Monterey Park, CA, but it still has to be earned. The typical asking price last month was $877,500, while the typical closed price was $792,500, and a typical sale took 25 days, so the market rewarded listings that matched buyer expectations rather than listings that reached too far.
That gives you a useful framework if you are deciding whether to test the market higher. Over the last three months, new for-sale listings carried a middle price point of $869,440 and moved in a typical 2 days, while pending homes showed a middle price point of $791,500 with a typical 27-day path to contract, which tells me fresh, well-positioned listings drew attention quickly.
Price from the recent closing range first, then adjust for your home's condition and size. Handle repairs and presentation before you launch so your first week works for you, not against you. In Monterey Park, CA, I would also review the homes that took longer to go pending, because that is where overpricing usually becomes expensive.
