Set a number that buyers will validate with recent closings
If you are preparing to sell, the decision is whether your price is built to attract offers or just online views. My answer for Richmond, VA start where buyers proved they will close, then earn a premium with condition and terms, not wishful pricing.
Looking at the latest numbers, the clearest signal was pricing discipline a typical median closed price was $350,250 last month, while the typical asking price among active homes was $369,500 last month. This changes your plan because buyers are comparing your list price to what actually closed, not just to other list prices. Some metrics were not reported for this period. Even with that limitation, the gap between a typical list and a typical close is a reminder that list price is a strategy, not a verdict. Build your pricing range off closed sales first, then use active competition to set your ceiling. If you need speed, price closer to the recent closing reality and let demand do the work. If you want to test the top of the range, pair it with strong terms and presentation so you are not relying on a future reduction to create urgency.
