Are You Pricing Your Home at Fair Market Value?
Accurately pricing your home is essential for attracting the appropriate buyers and accomplishing a successful sale. If you set the price too high, buyers may skip over your home; if you price it too low, you could leave money on the table.
How do you know if you’re pricing your home reasonably?
New River Valley Real Estate Market Watch
In March 2025, the average time to sell a home in the New River Valley was 290 days. However, local real estate trends are always changing. Contact The Louise Baker Team for help buying and selling homes in Virginia’s New River Valley.
How to Ensure You’re Pricing Your Home at Fair Market Value
What Does “Fair Market Value” Mean? Fair market value refers to the amount your house would sell for in today’s market. This price depends on things like:
- What other homes nearby have sold for
- How does your home look, and what condition it’s in
- Your home’s location
- How many people are looking to buy homes right now
Why Is This So Important?
Buyers do their homework. They look online, check prices, and ask their real estate agent for advice. They may not consider buying your home if your price is too high.
If it stays on the market for too long, people might think something is wrong with it. Staying too long on the market may also pressure you to lower your price. That’s why pricing your home correctly from the beginning is key.
Mistakes to Avoid
Some people price their home based on how much they want to make or how much they paid for it. Others think their home is worth more because of the memories they made there or the work they put into it. But buyers don’t know your story—they only see the house.
How to Pick the Right Price
The best way to find a fair price is to work with a real estate agent. They can show you what similar homes in your area sold for through comparative market analysis (CMA).
It helps you see what buyers are paying. You can also check home prices online, but those numbers aren’t always correct. A real estate agent will give you the most accurate info.
Final Thoughts
Pricing your home at fair market value helps your home sell faster—and for a better price. You’ll get more people interested and maybe even more than one offer! If you’re unsure what your home is worth, talk to a local real estate expert. They can help you figure it out and ensure you’re on the right track from day one.
New River Valley Real Estate Expert
We understand the New River Valley real estate market and can help you find the right home. Browse our listings to see what’s available.
For the latest market trends and expert advice, visit our blog and stay informed.
