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Originally Posted by raveneye
We put it on the market for about $10K above what my equation said, and about $10K below what the agents said they would want to list it at.
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That may be mathematically appropriate, but it seems to me not the best sales move.
If houses have sold for highly variable prices, then one of two things is going on: there's either a large seasonal variation (college town, for instance), or there's lots of inventory on the market and sale price is set mainly by the level of aggressiveness with which individual buyers bargain.
If it's seasonality, and you don't have to sell immediately, price it high and wait for house-sale season to come around. If you don't have time for that, then the season should dictate where in that $20K gap to put your asking price. If it's a matter of inventory glut, go with the realtor's suggestion, and work down.