Published October 27, 2026 in Market Update

Priced Under $500,000 in Goochland? You Had the Edge.

By Mike Boone

Real estate, Goochland

People talk about Goochland like it is one market. It is not. I counted 325 homes that sold and cut them four ways by price. What came back was a clear split. The lower the price, the more sellers walked away with every dollar they asked. The higher the price, the more they gave up. That gap is bigger than most sellers expect.

Under $500,000, nearly two out of three sellers got their full price or better.

64.3% of sellers priced under $500,000 sold at or above what they asked. The typical home in that range found a buyer in 13 days and closed at exactly 100% of what the seller first asked. That means the typical seller under $500,000 did not give up a single dollar. That is not the result in every price range.

Above $700,000, fewer than 4 in 10 sellers got their full price.

In the $700,000 to $1,000,000 range, only 39.8% of sellers got their full asking price or more. That is the lowest of any range. The $1,000,000 and up group came in just above it at 40.5%. Both sit more than 20 points below the under $500,000 group.

The time-on-market numbers make the same point. Homes priced under $500,000 sold in a typical 13 days. Homes priced from $700,000 to $850,000 took 27 days. Homes priced from $1,050,000 and up took 25 days. More days on the market usually means more pressure to negotiate. A seller who prices above $700,000 and expects a full-price offer is working against what this market has actually done.

Wait past the first month to sell and the gap grows wider.

Of the 325 homes that sold, 203 found a buyer inside the first month. That group closed at 100% of what the seller first asked. The 69 homes that took a second month closed at 96.4% of their first asking price. The 24 homes that took a third month closed at 94%. The 13 homes that sat five to six months before selling closed at 89.2% of what they first asked.

That last group waited 140 days on average. At a typical Goochland sold price, the difference between 100% and 89.2% is not a rounding error. It is real money left behind. The homes that sold in month one got the most. Every month after that, sellers gave a little more away. Pricing right from the start is what keeps a home in that first-month group.

What this means if you are selling or buying in Goochland right now

If you are selling, the price you start at is the single biggest factor in what you walk away with. Homes under $500,000 closed at 100% of what the seller first asked. Homes above $1,050,000 closed at 97.5%. That 2.5-point gap sounds small until you do the math on a $1,350,000 home. Right now, 105 homes are for sale in Goochland and 40% of them have already dropped their price, with a typical cut of $40,025. Those are sellers who started too high. Starting at the right number is cheaper than correcting it later.

If you are buying, the market sits at 3.8 months of supply, which still favors sellers. But above $700,000, fewer than 4 in 10 sellers got their full price. That tells you there is more room to negotiate in the upper ranges than buyers sometimes assume. The 30-year fixed rate averaged 7.32% as of October 22, 2026, down from 7.40% the week before, according to Freddie Mac's weekly rate survey. Rates are moving, and so is this market. Homes that are priced right are still going fast: the typical sale in Goochland closed in 18 days.