I would use the market's strength, but I would not test buyers for no reason.
A seller's market can tempt owners to push too far. I see it happen all the time. The smarter question is not how high you can list. It is how far you can push before buyers stop responding. In North Chesterfield, VA, the answer is in the spread between asking and closing.
Last month, active homes carried a typical asking price of $389,950, while the typical closed price was $365,000. Pending homes at month end were around $369,450. For me, that says sellers in North Chesterfield, VA should respect the band where real buyer decisions are already happening, even though the broader market still favors sellers. The support is still there. Supply stood at 1.1 months, buyers paid about 99.5% of asking, and a typical sale took 20 days. But I would not use tight supply as an excuse to overplay your hand. Strong markets reward homes that feel compelling and fair. They can still punish homes that show up priced above the range buyers are prepared to accept. Price with intent, not ego. Give buyers a clean, well-prepared product to evaluate. Watch the first round of showings closely and be ready to adjust if the traffic or feedback is thin. I would rather create competition than wait for validation that never comes.
About Scott Fogleman
Scott Fogleman is a licensed Real Estate Professional affiliated with New Home Team, specializing in the North Chesterfield market. With a focus on strategic marketing and deep local knowledge, Scott Fogleman provides clients with expert guidance in navigating complex real estate transactions. View full profile →
