A practical way to think about where homes are being positioned.
When I look at pricing today, I want to know where active homes are being set, not just where one sale landed. In Petersburg, VA, the typical list price was $259,450 last month, and that gives me a useful ceiling for current positioning.
The typical list price was $259,450 last month. That sits above the typical sold price, which tells me sellers are still leaving some room for negotiation in Petersburg, VA.
I would use that spread to think carefully about offer structure and pricing discipline. Buyers should not assume every home will come down sharply, and sellers should understand that starting too far above the recent close can make a property feel out of step quickly.
Compare list price to the recent close before you react. Keep your attention on homes that match the price band that is already moving. And if you are selling, make sure your list price can survive the first round of buyer comparisons.
