Market notes
Pricing in a shifting market: three signals we watch
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6 min read
Asking prices lag the market by weeks. These are the earlier signals we use to price a home right on day one.

Most sellers price their home by looking at what sold nearby last quarter. That is a reasonable start, but in a market that is moving, last quarter is old news. By the time a sale is recorded, the conditions that produced it may already have changed.
Signal one: time to first offer
We track how many days pass between a listing going live and the first written offer arriving. When that number starts creeping up across a neighborhood, buyers are getting more selective, and a home priced at last quarter’s level will sit.
Signal two: the second-viewing rate
A first viewing tells you the photos worked. A second viewing tells you the price might. We watch the share of first viewings that turn into a second visit, because it moves before offers do.
The first two weeks on the market are worth more than the next two months. Price for them.
Signal three: withdrawn listings
Homes withdrawn without selling rarely make headlines, but they are a clear sign of where the ceiling sits. When withdrawals cluster at a price point, we price just beneath it.