diff --git a/sphinx_autobuild/__main__.py b/sphinx_autobuild/__main__.py
index 236912d..2a37a03 100644
--- a/sphinx_autobuild/__main__.py
+++ b/sphinx_autobuild/__main__.py
@@ -83,7 +83,7 @@ def main(argv=()):
 
     if not args.no_initial_build:
         show_message("Starting initial build")
-        builder(rebuild=False)
+        builder(changed_paths=())
 
     if args.open_browser:
         open_browser(url_host, args.delay)
diff --git a/sphinx_autobuild/build.py b/sphinx_autobuild/build.py
index 2fa81d6..9579148 100644
--- a/sphinx_autobuild/build.py
+++ b/sphinx_autobuild/build.py
@@ -2,8 +2,11 @@
 
 from __future__ import annotations
 
+import contextlib
 import subprocess
 import sys
+from collections.abc import Sequence
+from pathlib import Path
 
 import sphinx
 
@@ -16,10 +19,20 @@ def __init__(self, sphinx_args, *, url_host, pre_build_commands):
         self.pre_build_commands = pre_build_commands
         self.uri = f"http://{url_host}"
 
-    def __call__(self, *, rebuild: bool = True):
+    def __call__(self, *, changed_paths: Sequence[Path]):
         """Generate the documentation using ``sphinx``."""
-        if rebuild:
-            show_message("Detected change. Rebuilding...")
+        if changed_paths:
+            cwd = Path.cwd()
+            rel_paths = []
+            for changed_path in changed_paths[:5]:
+                if not changed_path.exists():
+                    continue
+                with contextlib.suppress(ValueError):
+                    changed_path = changed_path.relative_to(cwd)
+                rel_paths.append(changed_path.as_posix())
+            if rel_paths:
+                show_message(f"Detected changes ({', '.join(rel_paths)})")
+            show_message("Rebuilding...")
 
         try:
             for command in self.pre_build_commands:
diff --git a/sphinx_autobuild/server.py b/sphinx_autobuild/server.py
index 0f2f0ea..c32b3f2 100644
--- a/sphinx_autobuild/server.py
+++ b/sphinx_autobuild/server.py
@@ -11,7 +11,7 @@
 
 if TYPE_CHECKING:
     import os
-    from collections.abc import Callable
+    from collections.abc import Callable, Sequence
 
     from starlette.types import Receive, Scope, Send
 
@@ -23,7 +23,7 @@ def __init__(
         self,
         paths: list[os.PathLike[str]],
         ignore_filter: IgnoreFilter,
-        change_callback: Callable[[], None],
+        change_callback: Callable[[Sequence[Path]], None],
     ) -> None:
         self.paths = [Path(path).resolve(strict=True) for path in paths]
         self.ignore = ignore_filter
@@ -49,12 +49,13 @@ async def main(self) -> None:
         [task.result() for task in done]
 
     async def watch(self) -> None:
-        async for _changes in watchfiles.awatch(
+        async for changes in watchfiles.awatch(
             *self.paths,
             watch_filter=lambda _, path: not self.ignore(path),
         ):
+            changed_paths = [Path(path).resolve() for (_, path) in changes]
             with ProcessPoolExecutor() as pool:
-                fut = pool.submit(self.change_callback)
+                fut = pool.submit(self.change_callback, changed_paths=changed_paths)
                 await asyncio.wrap_future(fut)
             self.flag.set()
 
diff --git a/tests/test_application.py b/tests/test_application.py
index 6a74f1f..b937c13 100644
--- a/tests/test_application.py
+++ b/tests/test_application.py
@@ -26,7 +26,7 @@ def test_application(tmp_path):
     app = _create_app([src_dir], ignore_handler, builder, out_dir, url_host)
     client = TestClient(app)
 
-    builder(rebuild=False)
+    builder(changed_paths=())
 
     response = client.get("/")
     assert response.status_code == 200