Not sure where to start with pricing your Georgetown home? You are not alone. Between shifting neighborhood trends, nearby new construction, and what buyers see online, choosing the right number can feel high stakes. In this guide, you will learn how to select strong comparables, account for upgrades, read key market metrics, and position against builders so you can price with confidence. Let’s dive in.
Ground yourself in Georgetown’s market
Georgetown sits within the Lexington metro, and local demand is shaped by major employers like Toyota Motor Manufacturing Kentucky. That steady job base supports ongoing buyer interest, yet pricing still varies street by street. Micro‑neighborhoods can move at different speeds, so averages for Scott County may not tell your home’s full story.
Use current, local data to guide you. Your most reliable sources are recent MLS reports for days on market and list‑to‑sale ratios, Scott County PVA records for parcel details, and city or county permits for new construction activity. Keep your focus on the most recent 90 days of closed sales in your immediate area.
Choose the right comps first
Start close to home
Begin with the same subdivision or immediate streets. If you cannot find enough sales, expand step by step: same street, same subdivision, then within a half mile, and then out to one or two miles. Pay attention to boundaries like major roads or different attendance zones, because even short distances can shift buyer expectations and prices.
Use recent sales and real competition
Prioritize closed sales from the past 90 days when possible. If inventory is thin, you can look 3 to 6 months back, and up to 12 months only for unique homes. Review active and pending listings too. They are not final value evidence, but they show where today’s buyers are making choices.
Match the property details
Aim for comps that share the same property type. Keep bedrooms and bathrooms within plus or minus one, and square footage within 10 to 20 percent. Consider lot size and setting, especially where larger lots carry a premium. Try to keep age and construction quality within 10 to 20 years, unless renovations clearly bridge the gap.
Build a tight comp set
- Gather 3 to 6 closed sales that fit your filters.
- Add 1 to 3 pending or active listings for context.
- Note concessions, credits, or rate buydowns noted in MLS remarks, since these affect the net picture.
Adjust for upgrades and condition
Know what to adjust
Buyers react to condition first. Kitchens and baths, flooring, roof, HVAC, windows, and overall finishes all influence price. Finished basements, bedroom and bath counts, garage type, porches, decks, and outdoor living areas matter too. Lot size, privacy, and landscaping can tip the scale in suburban and rural edges of Scott County.
Use a simple workflow
- Calculate price per square foot for each comp. Compare that to your home’s size and finish level.
- Make modest adjustments for non‑size differences like bedroom and bath counts, condition, and lot attributes. Keep a written rationale tied to local evidence.
- Recalculate adjusted comp prices and note a low, median, and high range.
- Look at today’s active and pending listings to fine‑tune your top end.
Weight systems over cosmetics
Cosmetic refreshes help with showings, but buyers place real value on big‑ticket items that reduce near‑term costs. A newer roof, HVAC, or windows often warrants stronger adjustments than paint and fixtures. Use recent local sales with similar upgrades as your best guide.
When to bring in an appraiser
If your property is unique, recently renovated, or part of a complex situation, a pre‑listing appraisal can provide a formal opinion of value and help defend a strategic price.
Compete smartly with new construction
What buyers compare
New builds often offer modern layouts, energy‑efficient systems, and builder warranties. Existing homes can counter with mature landscaping, established streets, larger lots, and quicker closings. Buyers will weigh these trade‑offs, so highlight what your home delivers that a base new‑build may not.
Watch incentives and supply
Builders may advertise closing cost help, rate buydowns, or design upgrades that reduce the buyer’s effective price. Permit data and visible construction activity signal how much new supply is entering your micro‑market. A wave of new homes nearby can shift price ceilings.
Price relative to the real turnkey cost
Compare your home to the completed cost of a similarly finished new build, not just the base price. If incentives bring that effective new‑home number down, you may need to position slightly below it or exceed it only when your home’s advantages are clear and compelling.
Show your value clearly
Document recent upgrades with receipts and warranties. Stage rooms to emphasize layout and light. Call out outdoor assets, from decks to tree lines, that deliver lifestyle value on day one.
Set a pricing strategy that fits
Track the metrics that matter
- Days on market: Tells you how quickly homes in your area go under contract. Shorter is stronger.
- List‑to‑sale ratio: If most homes sell near or above list, pricing near market can spark strong demand. If ratios dip below 95 percent, buyers expect negotiation.
- Absorption rate: Months of inventory helps you decide whether to price for competition or for negotiation room.
- Price per square foot: Use it as a guide within your micro‑neighborhood, but always adjust for finish and lot.
Choose your approach
- Price at market: List near the median of your adjusted comps. You aim for solid traffic and timely offers.
- Price slightly below market: Works best when inventory is tight and your home shows beautifully. This can create multiple offers.
- Price above market: Reasonable only if your home is truly unique or highly upgraded. Expect longer market time.
Reduce with purpose
Give buyers 2 to 4 weeks to respond. If showings lag or feedback focuses on price, plan one meaningful reduction rather than several small cuts. Update photos or remarks if you have improved the home.
Boost value without overspending
A pre‑list inspection can reduce surprise repairs later. Focus on high‑impact touchups like paint, flooring refresh, and curb appeal. Stage to highlight space and flow. These steps improve perceived value and help your list price feel justified.
A simple Georgetown pricing plan
- Pull the last 90 days of closed sales in your subdivision or immediate streets. Add active and pending listings to see the competition.
- Filter to the closest matches on type, size, beds, baths, age, and lot. Build a set of 3 to 6 closed comps.
- Adjust for condition, key upgrades, and lot attributes. Create low, median, and high price indicators.
- Compare against nearby new construction, including incentives and likely upgrade costs. Decide where your home stands on a turnkey basis.
- Pick a strategy: at market, slightly below, or above. Align it with DOM, list‑to‑sale ratios, and inventory.
- Launch with strong photos, staging, and clear upgrade documentation. Monitor weekly and be ready to adjust within 2 to 4 weeks if needed.
Ready to price your Georgetown home with confidence? Reach out for tailored guidance and current local data. Connect with Janna Smith for a thoughtful pricing plan and a smooth sale.
FAQs
How many comps should I use to price a Georgetown home?
- Aim for 3 to 6 closed sales plus 1 to 3 active or pending listings for context.
How recent should comps be in Scott County?
- Use sales from the last 90 days when possible, extending to 3 to 6 months only if inventory is low.
How do I account for a kitchen remodel when pricing?
- Compare to nearby sales with similar kitchen quality and adjust modestly based on local evidence rather than project cost.
Should I match nearby new‑build prices when I list?
- Compare against the effective turnkey cost of a new build after incentives and upgrades, then price where your home’s strengths win.
What are the signs my list price is too high in Georgetown?
- Few showings, repeated feedback about price, and a growing gap between your list price and recent closed sales.
When is a pre‑listing appraisal useful in Scott County?
- It helps for unique properties, major renovations, or situations where a defensible value is important before going to market.
