Los Angeles: Full Asking in 12 Days, What a List Price Is For
· Case study
A three-bedroom view home listed at $948,000 and sold at $948,000. One principle, explained with one sale: the asking price is a promise, not an opening bid.
3709 Dwiggins Street in Los Angeles 90063, a 1993-built two-story home with three bedrooms, two and a half bathrooms, 2,126 square feet, high ceilings and panoramic views of downtown Los Angeles from a quiet street, was listed by Shirley Tang Team on June 5, 2024 at $948,000. It went into contract on day 12, June 17, at the full asking price, and closed on July 12, 2024 at $948,000.
One principle is enough for this article: an asking price is a promise, not an opening bid.
Sellers often think of the list price as the first move in a negotiation. Buyers do not. A buyer reads the list price as the seller's own statement of what the home is worth, and then checks that statement against everything else for sale. If the statement holds up, the buyer acts. If it does not, the buyer waits, and the waiting is what costs sellers money: every week on the market invites the question of what is wrong with the house.
This home was listed at $948,000. On day 12 a buyer agreed to pay $948,000. That is what it looks like when the promise holds: the buyer did not argue with the number, because the number was already the argument. The downtown view, the ceilings, the island kitchen and the covered patio were priced in, not oversold.
Escrow ran 25 days from contract to closing, funded with cash to a new loan, and recorded on July 12, 2024. Thirty-seven days from listing to funds.
If you are selling in East Los Angeles, Monterey Park or Alhambra and want a number you can stand behind rather than one you hope for, send us the address. Text or call (626) 202-9573 (text preferred), or add us on WeChat. No charge; you decide once you have seen the comparables.
This is the record of one real transaction. Every home and every market is different, and nothing here is a promise about any other property.