In reviewing daily activity with listings that I follow in the cities of the west inland empire and eastern LA County, the general sales news trend for the last 4-5 months is price reductions to spark offers. Those that price according to recent sales (last 3 months) are likely to be on the market for less than 30 days before receiving an acceptable offer. And without having to go through a price reduction. Key is to price right to begin with, not to push the envelope with a high list price. For exceptional properties with spectacular upgrades, lots, location….one can test the waters with a higher list price than recent sales.
Most of my sellers are closing escrow in approximately 90 days from the day I listed their properties. Many are getting close to full asking price (within 3% of list price), and in some cases even more. For example 6351 Riverside Dr. #11, Chino listed for $150,000, same as a recent sale and got the bid up to $159,500.
In the last 60 days- August/September 2015 I closed 14 escrows for my sellers. A busy Summer!