Yes—you can list your home above the last comparable sale. A nearby sale is a reference point, not an automatic ceiling on your asking price.
The more useful question is: What would make a buyer choose your home at the higher price?
If you’re selling in Lake Stevens or elsewhere in Snohomish County, that’s the conversation I’d want to have before choosing a number.
The Last Home That Sold May Not Be Your Best Comparable
It’s easy to focus on the house down the street. It sold recently, you know the neighborhood, and the number feels relevant.
But proximity and timing don’t tell the whole story.
A useful comparison considers location, size, layout, condition, lot characteristics, and features that matter to buyers. Fannie Mae’s appraisal guidance specifically recognizes that the most appropriate comparable sale may be older than the most recent one.
A similar home that sold several months ago may tell us more than a recent sale with a very different layout or setting.
When a Higher Asking Price May Make Sense
A higher price needs support. That might include:
● A more desirable location or quieter setting.
● Better condition or updates buyers value.
● More usable living space or a more functional layout.
● A lot with features that comparable buyers will pay for.
● Market changes supported by recent activity.
For a Lake Stevens waterfront home, I’d also want to compare the waterfront itself. Beach access, shoreline, views, and the usability of the property deserve a closer look than simply labeling two homes “waterfront.”
These are things to investigate. They don’t each come with a fixed dollar premium.
Spending More on Your Home Doesn’t Automatically Make It Worth More
A seller might say, “The neighbor sold for $750,000, but I put $80,000 into mine.”
That gives us something to evaluate. It doesn’t automatically establish an $830,000 value.
The type of work matters. So does the condition of the comparable home and what buyers in that price range expect. An improvement’s cost and its contribution to market value can be different.
The question is whether the available sales evidence supports buyers paying more for those differences.
Look at What Buyers Can Purchase Today
Closed sales show completed transactions. Active listings show the alternatives buyers are considering right now.
Imagine a nearby home sold for $750,000 and you want to list at $795,000. These are hypothetical numbers.
If competing homes around $795,000 offer more space, better condition, or a stronger location, your price may be difficult to defend. If your home offers meaningful advantages and the broader sales evidence supports them, the higher price may deserve consideration.
A competing seller’s asking price still isn’t proof of value. I’d look at closed sales, pending activity where reliable information is available, and current competition together.
What If a Buyer Agrees to Pay More Than the Comps?
An accepted offer and an appraisal answer different questions.
A buyer may agree to your price, but a financed purchase can still run into trouble if the lender’s appraisal comes in lower. Depending on the financing and contract, the parties may need to discuss a price change, additional buyer funds, or another solution.
An appraiser can account for supported property differences and market changes. A sale above a previous comparable is possible, but an accepted price doesn’t guarantee the appraisal will support it.
Should We Start High and Lower It Later?
My concern with that approach is how buyers will compare the home when it first appears.
If the price asks buyers to overlook stronger alternatives, we may be relying on someone choosing the home despite its position in the market. Reducing later is an option, but I’d rather begin with a clear explanation for the asking price.
Before launching, I’d want us to agree on the evidence supporting the price, the competition we’re watching, and how we’ll respond to showing activity and feedback.
How I’d Approach Pricing Your Home
I wouldn’t automatically cap your home at the neighbor’s sale price. I also wouldn’t recommend going higher simply because you want more room to negotiate.
I’d compare the relevant sales, identify the differences buyers are likely to value, and look at the alternatives available today.
If we’re asking more, we should be able to explain why.
Thinking about selling in Lake Stevens, Snohomish, Everett, or the surrounding area? Contact Taylor Stefani with John L. Scott at TaylorStefani.com for a pricing conversation based on your home and its competition.
