I say this mostly in jest...

But sometimes the more you love your current home, the harder it can be to get excited about the next one.

Of course, loving your home is exactly what I am hoping you do once you buy it.  Make it your own.  Make some improvements.  Enjoy it every minute of it. Make it a place that works really well for you and your family.

But sometimes really loving your current home makes it slightly harder to get excited about the next home.  :–)

For example...

Maybe your family has grown and you really need more space. Another bedroom or a larger kitchen would definitely improve the daily routines in your home. But your current home has a pretty amazing primary bedroom and bathroom suite. It is spacious, feels luxurious and you would definitely miss it if you didn't have it.  And now, every home we go to see has a primary suite that feels quite a bit less exciting.  

Or perhaps you have spent the past 10 years building an amazing outdoor space. The lawn is established, the landscaping looks great, the flower beds are blooming on schedule, and the raised vegetable beds produce a bountiful vegetables.  When we visit a possible next home with a great layout and location, you find it hard to imagine starting over with the outdoor work.

Sometimes it is even simpler than that.  You have spent years getting to a perfect arrangement for your furniture.  The sofa fits perfectly on that wall. The dining table sits comfortably in the space. Everything works.  Now when we walk into another home, you immediately start wondering if anything will fit quite as well.

Listen... I want you to love your home!  Do everything you can to fall in love with it.  Make it your own and enjoy every aspect of it.

Just remember, that if the time comes when you need to move because of space, location, or budget… the more you love your current home, the harder it might be to get excited about the next one.  :–)

   

Happy Friday, Friends!

What a wild week of weather this has been... yesterday (Thursday) the temperature started at 70 degrees at 1AM and fell to 30 degrees by late morning and snowflakes were flying.  Today, we'll be bouncing back up to 60 degrees.  I hope you have been able to keep up with the changing temperatures and stay relatively healthy!

A few weeks ago, Luke and I traveled to Florida for a few days (leaving in the evening, enjoying a beautiful sunset at take off) for the International Builder Show.

Along with helping people like you sell homes and buy homes in Harrisonburg and Rockingham County... I also help market and sell new construction homes.  Luke and I enjoyed learning about a lot of new products, techniques and trends in the new home building world.  It was a fun and very informative trip!  Let me know if you have any questions on new homes in our market!

Before we get to the latest trends in our local housing market...

Each month I have a giveaway for readers of my market report.  This month, enter for a chance to win a $50 gift card to Mr. J's Bagels & Deli – a great choice for breakfast or lunch.  My go–to bagel order is an egg bagel, toasted, with veggie cream cheese.  What about you?  Enter here for a chance to win the gift card to Mr. J's.

Next up... my monthly invitation to sign up for my daily email newsletter that I send out each weekday with a quick note related to our local market, the buying and selling process, and more.  Recent stories have included...

Stay informed and learn more about our local real estate market and the buying and selling process by subscribing to my daily email newsletter in addition to receiving my monthly market update.  

Finally, before we get to the most recent market data, if you're thinking you might buy a home or sell your home this Spring... I'd be delighted to help you with the process.  Reach out anytime by phone/text at 540–578–0102 or by email.  

Now, then, on to the latest data and trends for the Harrisonburg and Rockingham County real estate market...

A few things to note here...

[1]  We saw quite the uptick in home sale this February... with a 32% increase over last February... and when looking at the past six months, we've seen a 7% increase in home sales.  So... more buyers are buying homes in recent months.

[2]  Over the past six months, the median sales price has been 2% lower than the same time a year prior... and over the past 12 months, the median sales price has been 1% lower than the prior year.  Does this mean prices are declining?  Maybe, but maybe not.  Read on for several other data points that indicate prices might not actually be declining.

[3]  It is certainly taking longer to sell a home (get it under contract) these days as the median "days on market" has risen from six days to 12 days over the past year.  You'll see this in a visual form later in this report.

Here's a look at the surprisingly active month of February home sales...

February 2026 was about as busy (or busier) than a normal month of March!  Perhaps it was because of a slightly slower than normal January (the weather wasn't so great) but whatever the reason... there were quite a few more home sales this February than any recent February.  Stay tuned for contract numbers that will give us a preview of what to expect in March.

OK, here's where we get to whether sales prices are actually falling.  The data table presented earlier showed a 2% decline in the median sales price over the past year, but the next two graphs show the same data, broken down between detached homes and attached homes.

First... take note of the rising median sales price of detached homes...

And now, take note of the rising median sales price of attached homes...

So...

All Home (detached + attached) = falling median sales price

Detached Homes = rising median sales price

Attached Homes = rising median sales price

How can it be?!?

Basically, I believe it's a change in the mix of detached vs. attached homes that are selling.  Last year, 62% of home sales were detached homes.  This year, only 50% of home sales are detached homes.

Thus, with more attached homes selling this year (compared to detached homes) the overall (detached + attached) median sales price is declining slightly while the median sales price of detached homes is rising and attached homes is rising.

OK, that was a lot.  I might try to illustrate that a bit more clearly in a future daily newsletter.  

Suffice it to say, even though the market wide median sales price is declining slightly, I don't know that home prices are actually declining.

Do you agree?  Do you disagree?  Are you confused?  Drop me a line to let me know of your thoughts or questions.

Back to more graphs...

Home sales jumped up in February... and... contracts did as well.  Last February only 76 contracts were signed, while 94 were signed this February.  That put this February more on par with the average (97) over the past four years.  Thus, it seems likely that we'll see a strong month of closed sales in March.

What about inventory levels... they've been elevated for a while...

As shown in the yellow band above, inventory levels were higher last year (blue line) than typical over the past four years (grey line) but that might be shifting.  Current inventory levels (157 homes for sale) is pretty close to where we were a year ago and the average of the past four years.  It will be interesting to see if inventory levels rise further as we move into the thick of the Spring market.

As mentioned earlier, it is taking longer for homes to sell these days...

The change might not seem dramatic (median of 6 to median of 12) but it does indicate that it is taking longer for homes to sell now than it was a year ago.  It doesn't seem like that this trend will reverse itself anytime soon, though perhaps it will start to level out at some point.

The good news for buyers... lower mortgage interest rates...

A year ago, you'd be buying with a 6.76% mortgage interest rate... today... around 5.98%.  I'm optimistic (or hopeful) that rates will stay below 6% for most of the rest of 2026, though I don't know that we'll see them drop as far as... say... 5.5%.

Interested in even more market data to pore over?  You'll find plenty of additional charts and graphs over here if you want to read further.

Until next month...

1.  More options are emerging.  Inventory is similar to last year and may grow as the spring market unfolds.

2.  Homes are still selling quickly.  Median days on market doubled from 6 to 12 days, but well–priced homes still move fast.

3.  Mortgage rates are slightly better.  Rates around 6 percent are lower than a year ago, helping affordability.

1.  Buyers are active.  February home sales jumped 32 percent compared to last year.

2.  Prices appear stable overall.  Detached and attached home prices are still trending upward.

3.  Patience may be required.  Homes are taking a bit longer to go under contract than they did a year ago.

Have a wonderful weekend, and Happy (almost) Saint Patrick's Day!

  

In a recent conversation with someone considering a move to the Harrisonburg and Rockingham County area, they mentioned something I don't think about too often because it is the reality I live in every day...

Home prices have risen quite a bit over the past five years.

They are absolutely right.  The median sales price in our local housing market has increased significantly since 2020. 

So why has this happened?

One of the biggest reasons is actually relatively simple...

Harrisonburg and Rockingham County are popular places to live.

People who already live here often want to stay here. Many homeowners who might have moved in other markets are choosing to remain in our area because they enjoy what life is like living in Harrisonburg or in an immediately surrounding area.

And, at the same time, plenty of people want to move here.

Some are relocating for jobs at JMU, Sentara RMH, Merck, etc. Others are moving here because of the quality of life in the Shenandoah Valley, outdoor recreation options, the strong sense of community, and a cost of living that is still relatively reasonable compared to many other larger metro areas.

When you combine people staying with new people arriving, it leads to a steady or increasing demand for housing.

And when demand grows faster than supply, home prices will often rise.

So while those rising home prices can feel discouraging if you are just beginning to consider a move to this area, they also are an indication that Harrisonburg and Rockingham County are places where people want to live.

In other words, rising home prices are partly a reflection of this being a great place to live.
  

Please Note: My advice on this topic will vary based on how demand compares to supply in your market segment – and based on the age of your home.  But regardless, let's look at some reasons why you might decide to have a home inspection completed on your home before listing it for sale...

The market is still quite active in most price ranges, but more buyers are feeling a willingness to include a home inspection contingency, so it is relatively likely that the buyer of your home will conduct a home inspection once they are under contract to purchase your home.

That home inspection is a normal part of the process, and sometimes it leads to repair requests from the buyer.

As such, some sellers consider completing a home inspection before listing their home for sale. A home inspection before you list your home is not the right move for everyone, but if you have both the time and the money, it can be quite helpful.

Time...

If you complete a home inspection before listing your home, there is a good chance the inspector will identify a handful of issues. Most homes –– even very well maintained ones –– have at least a few items that show up on an inspection report.

If we are planning to list your home next week, you probably will not have time to address those issues before your home goes on the market. But if we are planning to put your home in the market in a month or two, an inspection before you list your home gives you time to make repairs on your own schedule instead of scrambling after a buyer requests repairs when your house is under contract.

Money...

The inspection itself will have a cost (perhaps $400 to $550), but the larger potential financial commitment will be addressing any deficiencies found during the inspection.That inspection could uncover items that you decide to repair before listing your home –– perhaps a roof repair, electrical updates, plumbing fixes, or addressing deferred maintenance items –– and there will be a cost to those repairs.

Or, No Inspection...

Of course, the alternative to doing that inspection before you list your home is waiting to see what turns up in a buyer's inspection.  If significant issues are found via the inspection, buyers will sometimes request repairs or ask for a credit, sometimes depending on the price they are paying for the house.

Discovering any issues ahead of time, allows you as a seller to handle repairs proactively and present the home to buyers with fewer potential concerns.

A pre–listing inspection certainly is not the right move for every seller, and most homes go on the market without one.  But if you have the time and the money (as outlined above), it can be a helpful way to reduce surprises later in the process and potentially create a smoother transaction from listing your home to heading to closing.
  

If you own real estate in Rockingham County, you likely received an notice of the updated real estate tax assessment for your property sometime in the past week... or it will hit your mailbox soon.

Plenty of property owners have been shocked to see their 2026 reassessment notice and note that the assessment of their property has increased by 20% or more.

How could it be!?  Home values certainly did not increase by 20% between 2025 and 2026!?!  Right??

Right!

Here's what you might have forgotten... which would be understandable, as you would probably only think about it once every four years...

Rockingham County reassesses real estate every four years... not every year.

So, the last time Rockingham County adjusted the assessed value of your home was back in 2022... which was likely loosely based on 2021 sales data.

This time, the 2026 reassessment would be loosely based on 2025 sales data.

Which... brings me to the graph above.

In 2021 (the main source data for 2022 reassessments) the median sales price in Rockingham County was $281,250.

In 2025 (the main source data for 2025 reassessments) the median sales price in Rockingham County was $355,000.

As such, since sales prices of homes in Rockingham County increased by 26% over that four year period, you probably shouldn't be too surprised if your real estate tax assessment increased by 15%, 20%, 25% or possibly even 30%.

  

And now... we'll all promptly forget about the every–four–year aspect of the Rockingham County real estate assessments... until the next time our real estate assessment changes... in 2030.  See you then!

  

Back in July 2025 the Harrisonburg Planning Commission reviewed a rezoning request for The Link, but the proposal must go through the process again due to an error in advertising the public hearing.

So... the Public Hearing is this Wednesday, March 11, 2026 at 6:00 PM.

Back to the rezoning request... the developer has modified the proposal a bit and it is now proposed to include:

Amongst the 250 apartments, the applicant will include a minimum of 110 studio or one bedroom apartments and a maximum of 85 four–bedroom apartments.

Here's another rendering of the proposed development...

During the first public hearing it became evident that community members have a variety of perspectives on this proposed development.

Some people support The Link because they want more people to be living downtown, which will help downtown businesses, restaurants and events.

Some people oppose The Link because of concerns about the size and scale of the development, including the proposed six–story building at one of the entrances to downtown Harrisonburg, concerns that it could become primarily college student housing, and concerns about insufficient parking and increased traffic in the immediate area and surrounding neighborhoods.

Please Note: I am over simplifying the reasons why some people support the proposal and others oppose it.  I attended the first public hearing, and if you are interested in this rezoning request and its outcome, I encourage you to attend the new public hearing.  Listen to what our fellow community members are sharing about why they support or oppose this proposed development – and consider voicing your opinion!

Here's the proposed site plan...

To put the size of the proposed development in context...

The Planning Commission will review the proposal and hear public comments before making a recommendation to City Council, which will ultimately decide whether the rezoning is approved or denied.

Read more about the proposed rezoning via...

Again... Wednesday, March 11 at 6:00 PM if you'd like to attend the Planning Commission public hearing on The Link.

  

Well darn.

The house is beautiful. Great layout, perfect location, updated kitchen, lovely yard.

But it smells. Like smoke. Or pets. Or both.

Now what?

I'm happy to help you brainstorm some potential solutions.

You can remove the carpet.
You can paint the subfloors.
You can prime and repaint the walls and ceilings.
You can clean the ductwork.
You can replace blinds.
You can run an ozone machine.

All of that might work... but it might not.

Sometimes odors come out fairly easily. Other times they linger.

Maybe the smell is mild. Maybe you do not really mind it.  But if you do mind it, here is the real question...

How willing are you to gamble that you will be able to eliminate it?  Because once you buy the house, the smell is yours too.

For some buyers, the price is low enough to justify the risk. For others, even a great house is not worth the uncertainty.

There is not one right answer, we'll just want to make sure we have talked about how sensitive you are to the smell and how much risk you are comfortable taking.

A beautiful home that still smells like smoke six months later will not feel quite so beautiful.
    

If you're like most buyers, you probably have an ideal timeline in mind.  Maybe you are planning to move to the area in six months. Maybe you want to wait until you are closer to the end of your lease.
Maybe you were thinking next spring would be the right time.

But... oops... 

Then *that* house came on the market.

It has the right layout, location, the price is reasonable, and it has everything you want in a new home.

Suddenly, you start to wonder if you should be willing to adjust your carefully planned timeline. 

This happens more often than you might expect.

It makes sense to figure out what your ideal timing would be... but it is also helpful to recognize that the market (when any particular seller is ready to sell) does not always align perfectly with your plans.

In a smaller market like Harrisonburg and Rockingham County, inventory (particularly in any given price range or location) can be limited and you might not see any options for long stretches of time.

Being willing to be flexible on timing does not mean you should rush into something unprepared... but we should be monitoring the market, have your financing lined up, understand your budget, and be willing to at least think about moving (buying) sooner if the right opportunity appears.

Have a plan.  Be willing to be flexible.
  

We can easily look up when a house was built... but that only tells us the actual age.

What about the effective age?

By that, I mean... the how old it feels based on its condition, updates (or not), and the status of the major systems.

For example...

A 29 year old house with an original roof, original HVAC system, and all original flooring and fixtures is very different from...

A 29 year old house with a two year old roof, two year old HVAC system, updated bathrooms, refreshed kitchen, new flooring, and fresh paint.

These two homes have the same actual age, but very different effective ages.

Here are a few more examples:

A 15 year old home with worn carpet and deferred maintenance can feel older than it is.

A 40 year old home with new windows, updated systems, and a renovated kitchen can feel much newer than many 20 year old homes.

So, if you are buying a home... when deciding what to offer, let's think beyond the year the house was built... and also consider the age of the roof and HVAC system and any major updates that have been completed or will be needed soon.

And, if you are getting ready to sell your home... we should consider the effective age of your home.  If you have replaced major systems and updated the interior, your home may compete better than we might otherwise expect with newer properties. If many elements of your home are original, the pricing should reflect that reality.

Two homes can be the same age on paper but feel very different in person.
    

Last fall brought a significant economic development announcement for our region that will impact our economy and housing market for years to come.

In October 2025, the Commonwealth announced that Merck will invest $3 billion to build a new 400,000–square–foot pharmaceutical manufacturing facility for the Merck Center of Excellence for Pharmaceutical Ingredients and Small Molecule Manufacturing in Elkton, creating 500 new jobs in Rockingham County. That is a significant increase in Merck's local employment and represents a major long term commitment to the Shenandoah Valley.

For our local economy, this is excellent news.

For our housing market, it is also meaningful.

Five hundred new jobs will not appear all at once, but over time this level of expansion will bring new employees to the area. Some will already live here. Many will relocate. And when people relocate, they need places to live.

That will potentially translate into additional demand for:

• Rental housing
• Entry level homes
• Move up single family homes
• Higher end properties for specialized and management roles

Even if only a portion of those 500 employees move here from outside the area, that could mean hundreds of additional households over the next several years.

We already have a somewhat tight housing market in many price ranges. As Merck hires for these new positions over the coming years, we will likely see continued pressure on inventory and potential pricing depending on how well new construction keeps pace.

This is big news for Rockingham County and the Valley. The key question now is how our housing supply will grow alongside our employment base.

If you would like to read more details about the announcement, check it out here at the Shenandoah Valley Partnership, the regional economic development and marketing organization for the Shenandoah Valley.

   

The median sales price in Harrisonburg and Rockingham County has risen to $345,000... but plenty of buyers are still buying homes for less than $300K.

Here's a breakdown of the 422 home sales under $300K in Harrisonburg and Rockingham County over the past year...

Will you buy a home for less than $300K?  Where will you buy?  What type of home will you buy –– detached or attached, old or new, with or without a garage, with how many bedrooms?

  

How much are most buyers paying for homes in Harrisonburg and Rockingham County?

The most active price segment of home buyers is $300K to $400K followed by the $200K to $300K price range.

Within those two price ranges ($200K – $400K) there were 893 home sales over the past 12 months... which is 65% of all homes that were sold.

If we add in the next price range up ($400K – $500K) we find that there were 1,076 home sales... or 79% of all home sales.

Looking at the extremes...

If you're hoping to buy for less than $200K there aren't that many (3%) homes that are likely going to be available to purchase.

If you're hoping to sell for more than $800K there aren't that many (3%) buyers who are paying those prices.

Where will your next home purchase or home sale fall within these price ranges?

  

Most buyers have a clear maximum purchase price... let's say it's $450K.

But... even if our goal is to find a house for you to buy where you'll pay less than $450K... I'll still recommend that you consider looking at homes priced up to $475K.

Here's why...

1. Some $475K Homes Will Sell for $450K

If a home has been on the market for 30, or 60, or 90 days, the seller may eventually be more flexible than they were when they first listed their home for sale. A $475K list price does not automatically mean a $475K sale price.  If we're not looking at homes a bit above your target maximum, we might miss one that would ultimately sell in your target range.

2. Price Reductions Might Make Things More Feasible

A home that starts at $475K might drop to $460K after a few weeks.  Then, all of a sudden, a $450K sales price seems must more likely.  If we have already seen the home, you'll be ready to act more quickly than if we had ignored it when it was priced at $475K.

3. It Might Clarify Your Target Price Range

Seeing what an extra $20K to $25K gets you in the current market can be very helpful.  You might decide stretching your budget a bit is worth it –– or you might reaffirm the upper limit of your planned budget.  Either way, you're making decisions with more and better information.

So, if your top purchase price will be $450K, let's consider rounding up our search criteria to $475K.

That won't be a decision to spend $475K, but it will help you make better decisions.
  

It's true –– most sellers hope to sell for their list price, or pretty close to it.

When a home is listed for $500,000, the seller is clearly aiming for $500K.

But that doesn't necessarily mean you should decide not to make an offer if the most you can pay, or want to pay, is $450K or $475K.

Bottom line... let the seller respond to an actual offer, rather than assuming what their response will be.

If a home is listed for $500K and you are only able to or comfortable with paying $450K, make the offer.

• The seller might say no.
• The seller might counter at $490,000.
• The seller might counter at $470,000.
• The seller might surprise you (and me) and accept.

But you don't really know how the seller will respond –– and often, the seller does not know either –– until we have sent your offer over to them.

We regularly see homes sell for full price, some above list price, and plenty below list price. How the sales price of a home compares to its list price typically depends on its condition, location, competition, and the seller's motivation. A home that has just hit the market with multiple showings scheduled is very different from a home that has been on the market for 45 days.

But here is the key thing to remember –– you cannot negotiate on a home if you've never made an offer.

If you love the house, and the price is close enough (whatever close enough might mean), it is usually worth having the conversation via an offer. 

The worst the seller can do is say no.

And oftentimes, they'll say no, but...

   

The snow has (finally) melted. The days are getting a bit warmer. If you're planning to sell your home this spring, you might be wondering...

Should I hurry up and get the house on the market?  Or should we take a little time to make a few improvements first?

Given that we are still in late February, it is often perfectly fine to take a few extra weeks to prepare.

Buyer activity typically starts to pick up in March and builds even more in April and May. Yes, serious buyers are already watching the market –– but the strongest months of contract activity are still ahead of us.

So if you need a few weeks for...

• Fresh paint in a few rooms
• A few updated light fixtures
• Some landscaping and fresh mulch
• Decluttering or deep cleaning

...it probably makes sense to take the time to make those improvements.

Rushing to get your house on the market before you are ready won't necessarily serve you well.  A fully prepared home will often lead to more buyer interest and stronger offers.

Even if your timeline is not completely finalized, we can still get started.

Let's walk through your home together and talk about what is worth improving –– and what is not. Then we can set a tentative target for photos and a date for your home to hit the market.

If we need to adjust the timeline, no problem. But having a general plan can keep you on track with moving forward.

  

Looking to buy a home in Dayton, VA?  You are less likely to find one for sale there as compared to in Bridgewater, Broadway or Elkton.

Rockingham County has seven towns and above you'll see how many homes sold in each town over the past 12 month.  Elkton tops the list with 115 home sales and Mount Crawford had the fewest (13) home sales.

And which towns had the highest median sales prices?

The Rockingham County town with the highest median sales price was Dayton, VA with a price of $372,500... followed closely by Bridgewater with a price of $368,000.  The lowest median sales price was found in Timberville with a price of $271,000.

Where will you buy your next home?  In the City of Harrisonburg?  In the vast expanses of Rockingham County?  Or in one of the seven towns in Rockingham County?

  

You have probably experienced this... you are scroll through the photos of a new listing. The kitchen looks great. The living room is bright. The bedrooms seem spacious.  

But... you still can't figure out how quite a few of the photos (and rooms) fit together.

Sometimes the confusion is just because it's difficult to piece photos together into a floor plan in your head.

Sometimes the confusion is because the house has a confusing layout.  :–)

If you buy a home that needs painting, or needs new flooring, or needs a renovated kitchen –– no problem –– those can be addressed.  But it's much harder to make a confusing (or awkward, or difficult to use) layout work better for you.

If the bedrooms are oddly sized or placed, if you have to walk through one room to reach another, or if the main living areas feel disconnected, that can quickly cause us to conclude it is not the right house for you.

A floor plan (amidst the listing photos) can make all of this clearer, but if we don't have one available, we'll have to go take a look to figure out the mystery of how the photos (and rooms) all fit together... and figure out if that fits you.

  

Preparing a market analysis of your home is the most straightforward when there are very similar homes in your neighborhood that have sold in the past year.

If you have a 1500 SF home with no basement, and three nearly identical homes nearby have sold recently, that makes the market analysis more straightforward as those sales provide clear guidance toward your home’s market value.

But sometimes (perhaps often) it is not that simple.

We might look at recent sales in your neighborhood and find that most of the other homes in your neighborhood (that are sold lately) are 2500+ SF with a basement.

So what do we do?  We generally have two options, and we often pursue them both...

1.  Adjust Neighborhood Sales

We can start with recent sales in your neighborhood and make adjustments for the differences.  If most nearby homes are 1,000 square feet larger, we'll adjust their sales prices downward. If they have finished basements and yours does not, we adjust again.  The challenge with this option is that when the differences between your home and the recent sales are significant, the adjustments become larger, and the analysis might becomes less precise.

2.  Look Outside The Neighborhood

The other approach is to find homes that are more similar to yours –– even if they are in a different neighborhood.  Maybe there is another part of Harrisonburg or Rockingham County with homes more similar to your home related to size, layout, and condition. Those sales might provide a better indication of the value of your home, even if the location is slightly different.  Of course, the location and neighborhood matter –– so we might have to make value adjustments based on the location of the other homes.

Both Is Best

In most cases, I will prepare a market analysis using both strategies above... using not–as–similar–as–we–would–prefer homes in your neighborhood, combined with more–similar homes in other neighborhoods.
    

As a counterpoint to yesterday's article about what to do if the market indicates your home is worth MORE than you thought... let's give some thought to how to proceed if the market indicates that your home is worth LESS than you thought!

Let's say you are preparing to sell your home and you are confident that your home is worth $550,000.

But... when we review the comparable sales (similar homes, similar size, similar condition), we see sales prices closer to $500,000.

If you believe your home is worth $550,000 but the data supports $500,000, here are three strategies we might discuss...

1. Price at $550,000.  You can absolutely still test the market at your preferred list price, though it might result in fewer showings, longer time on the market and future price reductions.

2. Price at $500,000.  This follows the lead of recent comparable sales and gives you the strongest chance of quickly securing a buyer for your home.

3. Choose something in between.  We could list your home at $525,000 –– or lean toward your number at $535,000 or $540,000 –– or lean toward the data at $510,000 or $515,000.

I always encourage starting with the data. Recent sales. Current competition. Buyer activity.

But we will also want to talk about your overall financial goals and your timeline before we make a final pricing decision.

    

OK, now to what I'm actually writing about today...

What if your home is worth more than you expected?

Perhaps you recently started thinking about selling your home and you were assuming your home is probably worth around $450,000.

Then when we are reviewing my market analysis of your home, we conclude that the market is pointing to a value of $525,000!?!

The numbers make sense, but it still feels too high to you.

If you have owned your home for 10 or 15 years, and if you haven't been thinking specifically about your home's value, you might be surprised by what the market tells you about your home's value.

So, how do we price your home?

If (as in my example above) the data supports $525K but you were expecting $450K, we might talk about these options...

1. List at $450,000 – This will likely generate strong interest, but you might be leaving money on the table.

2. List at $525,000 – If the comparable sales clearly support it, this is often the most logical starting point.

3. List somewhere in between – such as around $495K to balance the data with your comfort level.

I will always encourage you to start with the numbers and to focus on recent sales, but we will want to list your home at a price that makes sense to you.