A strong market still rewards the seller who enters with a believable number.
If you are asking how high you can list in Richmond, VA without losing momentum, I would answer it this way high enough to reflect value, not high enough to test buyer patience. Last month, recent offers landed about 99.7% of asking, and the market carried 1.67 months of supply.
A typical asking price for active homes was $365,000 over the previous 30 days. Homes moving into pending status showed a typical asking price of $385,000, and newly pending homes sat at $405,000. I read that mix as proof that buyers are active, but not careless. Sellers in Richmond, VA should take confidence from low supply, not permission to improvise. The opening price is part of the marketing, not a placeholder. When a home enters too high, it asks buyers to solve your optimism for you. Decide what price your condition actually supports. Present the home so the number feels justified on first impression. Be ready to adjust if the response is weaker than expected. I would rather make one smart decision up front than spend weeks repairing a bad first read.
About Scott Fogleman
Scott Fogleman is a licensed Real Estate Professional affiliated with New Home Team, specializing in the Richmond 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 →
