Here is a view of how much the final sales price is over/under list by number of Days on Market for each of the cities I cover in Silicon Valley.
The scatter charts show a dot for each closed sale by percent the final sales price was over/under the then current list price and by the number of days on market. Note homes selling within the first 10 days on market are selling for well above the overall average.
The charts also show the significant shift in the market that started in July. The blue dots are sales during the first half of the year, which are typical of what they looked like prior to 2022. The red dots show the sales during the second half of the year. Note that the percent over list during the first 10 days shifted down and the number of sales below list increased significantly for homes on market over 10 days.
Here are two charts showing this for Condos and Townhomes.