This is the key to setting expectations on price and terms.
If you are trying to predict what a home will really sell for, the decision is how much to trust the asking price. My guidance in Brentwood, NY, recent closings show buyers paying above asking on average, so I plan offers and pricing with that reality.
If you only remember one closed data point right now, make it this buyers paid about 102.3% of asking last month. The typical closed price was $647,500, and a typical sale took 36 days.
That matters because it changes how you interpret every listing you see. Some metrics were not reported for this period. Still, when the market is clearing above asking, buyers need stronger offer posture and sellers need disciplined pricing and a clear negotiation plan.
If you are buying in Brentwood, NY, set your ceiling before you tour and expect that a well-positioned home may trade above its list price. If you are selling, price to attract competition rather than pricing high and hoping, since buyers are already showing they will pay when the home is positioned correctly. In either case, move with urgency when the home fits, because the typical 36-day pace rewards decisive action.
