23%
of resale listings under $1.35M are under contract
22 pending, 73 active
13%
of resale listings over $1.35M are under contract
2 pending, 15 active
91 days
median time to an accepted offer, Over $1.35M homes that did sell
14 closed sales, last 12 months
Felida is one place with two housing markets, and the line between them is $1.35 million. Below it, 23% of the resale homes on the market already have an accepted offer. Above it, 2 of 17 do.
That isn’t a weak market. It’s a market where the price has to be right the first time, and where the cost of being a little high is measured in months instead of days. This study walks through what the last twelve months of MLS data say about that line, and what it takes to be on the right side of it.
Detached resale homes in 98685, active or pending as of 2026-09-14. Builder inventory excluded. Top bins combined.
Below the line, the market works
The easy explanation for the homes over $1.35M is that nobody is buying at that price. The fuller answer is that the same buyers are active, and the number above the line has drifted away from them.
- Under $1.35M, Felida moves. 23% of resale listings have an accepted offer, and the homes that priced right went under contract in a median of 10 days at full asking price.
- Over $1.35M, homes sell, but only after finding the number. 14 resale homes closed there in the last year, at a median of 91 days and 93% of their original ask, and at a median $302 a foot. The 15 still waiting are asking $420.
- The queue above the line keeps growing. In the six weeks ending 2026-09-11, 5 resale homes came on the market over $1.35M; 0 went pending and 1 came off unsold. Below $1.35M: 39 arrived, 34 pended, 10 left unsold.
Demand exists in Felida. Above $1.35 million, what’s missing is agreement on the price, and the closed sales say where that agreement is.
It comes down to one number
Compare what resale homes in each band are asking per square foot today with what the same band actually closed at over the past year. In the Under $585K and $585K–$799K bands, today's sellers are asking less than recent closings. Over $1.35M, they are asking +39% more: $420 a foot against $302 closed.
Median price per finished square foot. Closed: detached resale sales in 98685, 2025-09-14 to 2026-09-14. Asking: resale listings active on 2026-09-14. Bands are the Altos quartile cuts for the same week.
On a typical 4,600-square-foot Felida home in that band, that gap is about $544,000. It is large relative to what buyers at this level are willing to absorb, because they are comparing against new construction on one side and a bench of closed comps on the other. A home priced at the closed number has sold all year. A home priced at the asking number is competing with 14 others that made the same choice.
The first price is the price
Across every resale sale in 98607 over the last twelve months, homes that never reduced their price closed at 100% of the original ask in a median of 9 days. Homes that cut at least once closed at 93.5% after 72 days. About 43% of sellers ended up in the second group.
100%
of original ask, 9 days
166 sales priced right the first time
93.5%
of original ask, 72 days
123 sales that reduced at least once
The penalty grows with price. Between Over $1.35M, sellers who priced right closed at 96% of ask in 28 days; sellers who cut closed at 76.3% after 108 days, with a median reduction of 18.9% along the way. The market did not punish those homes. It simply waited for the number it had already told them.
Relisting doesn’t reset the clock either. The 15 homes that sold this year after a previous listing expired or was cancelled showed a median 20 days on the MLS, but had really been for sale for 243 days. They closed at 98.7% of their original ask.
What this means if you’re selling above $1.35M
- 1
Start from the closed number, not the asking number.
The comps that matter are the 14 homes in your band that actually closed, not the 15 that are waiting. We price from the first set and show you exactly where your home lands on it.
- 2
Treat the first two weeks as the whole game.
Homes in this band that sell at the right number do so in about 10 days. If the offers aren’t there by day fourteen, the market has answered, and something about the listing needs to change. Sometimes that’s presentation. More often, in this band, it’s the number.
- 3
If you’re already on the market, one adjustment beats three.
The data on price cuts is clear: sellers who moved once, early, to the closed number kept more of their price than sellers who stepped down. A relist doesn’t hide the history from buyers’ agents, so the plan has to work on the merits.
How this was built
Source: RMLS listing data for zip code 98607, detached single-family homes only, pulled 2026-09-14. Closed and off-market sets cover 2025-09-14 through 2026-09-14. “Resale” excludes listings flagged new, under construction, or proposed. “Under contract” is pending listings divided by active plus pending listings on the pull date. Price bands are the Altos Research quartile cuts for the same week, so they match the segment table on the Vancouver market page.
Days to an accepted offer use cumulative days on market where the MLS records it, so a relisted home carries its full history. Off-market means expired, cancelled, or withdrawn. We do not publish a “sold per listed” ratio, because listing-service absorption counts mix sales with withdrawals; the split above is resolved from status, not inferred.
The $1.35M pending gap is a current-conditions reading. Over the full twelve months, resale homes over $1.35M sold 58% of the time; the gap opened over the summer of 2026. No addresses, agents, or brokerages are identified anywhere in this study.