How to price a geo-domain

[trent_stark]

Hello everyone,
I have a question. How do you price geo-domain. It's a domain of a city (no occupation like newyorklawyers.com, just the name of a city) and from my research it seems to be a affluent city. It's a .com and the exact match of the name. I tried to register the names of the surrounding towns but they've all been taken, even though they are minor towns with 200 people or less.

I was told to sell such a domain for the median house price x3 and any domainer or real estate company or city commerce center would be glad to buy it but i don't want to over price it, it seems like a lot of money. Are there any other suggestions on how much i should sell it for?

 

[cdnbigd]

Wow. Maybe it's just me knowing the median house price where I live is around $500,000 but that seems like a ton of cash to ask for if it's a pure geo which is not a large popular city. If this person told you to multiple by 3, crikey, that would be $1.5 million!

To give you an example, Vancouver (neighboring city to mine) has a median house price of $700K. Multiple that by 3 and it's over $2 million. Vancouver.com sold for $120K.

Yours is a "pure" geo? Just (city).com? What's the population?