Your first list price should reflect what the market has rewarded, not just what you want.
If you are debating how high you can price your home in Bayside, NY, I would start by asking a different question what range has the market actually supported lately? My answer is to price with recent closed results in mind, because buyers have been negotiating and they have not been paying full ask across the board.
Over the previous 30 days, the typical home in Bayside, NY closed at $998,000, while the typical asking price for active listings was $979,000. Recent offers landed at about 93.8% of asking, and a typical sale took 38 days. Those numbers give me a grounded starting point for pricing strategy.
For sellers, the key implication is not that you need to underprice your home. It is that you need to enter the market with a number that feels supported enough to create confidence. In Bayside, NY, I see a market with enough seller leverage to support strong pricing, but not enough to rescue a listing that starts too high and then asks buyers to come back later. The recent average negotiation range matters because it shows buyers are still pushing back.
Set your price after reviewing where recent closings cluster, not after picking the highest active listing you can find. Compare your home carefully against current competition so you know whether your number feels justified at first glance. Be ready to react early. I would rather make a sharp pricing decision up front than give away time and leverage after the market cools on the listing.
