Pricing your home

Seven steps to pricing with confidence

Do this after prep is underway and before photography — price and presentation go together.

1. 1

   Build the comp set from sold MLS data

   Before list price decision

   Your agent pulls recent solds in your neighbourhood pocket — same property type, similar bed and bath count, and comparable size. Sign in on our site to view sold prices, sale dates, and days on market together. Weight sales from the last three to six months; in shifting markets, the last 90 days matter most.

   Ignore what your neighbour listed at — list price is hope. Sold price is fact. Off-market sales and old sales from memory do not belong in a CMA.

   • Same pocket — not just the same city name; block and school catchment matter
   • Same property type — detached, townhouse, and condo are different markets
   • Note list-to-sold ratio on each comp — above ask, at ask, or below after price cuts
   • Use our home evaluation as a conversation starter — your agent refines with a full CMA
2. 2

   Map active competition

   Same research session

   Solds tell you where the market closed. Actives tell you what you compete against today. If five similar homes sit unsold above recent solds, listing higher without a clear advantage invites the same fate.

   Tour competition in person or virtually with your agent. Note condition, upgrades, and how long each has sat. Stale actives often signal price resistance in that bracket.

   • Count similar actives at your target price — high supply weakens pricing power
   • Compare your prep and condition honestly to the best competing listing
   • Seasonality — spring volume differs from quiet December weeks in the GTA
   • New listings can appear the week you launch — pricing is not set in isolation forever
3. 3

   Adjust for your home's differences

   With your agent

   No comp is identical. Adjust for renovations, lot size, parking, basement finish, roof and HVAC age, and location factors like backing onto a ravine versus a busy road. Your agent documents adjustments so the recommended range is defensible to you and to buyers' agents.

   Be honest about weaknesses — buyers will find them at showing and inspection. Pricing should reflect reality, not the best-case version of your home.

   • Updated kitchen and baths — premium over original condition comps
   • Smaller lot or no garage — discount versus larger comp on the same street
   • Condo — fee level, reserve fund health, and floor or view premium or discount
   • Deferred maintenance you chose not to fix — price or prep, not neither
4. 4

   Choose a pricing strategy

   Before MLS entry

   Strategy is not just a number — it is how you want the first two weeks to play out. In balanced markets, pricing at recent sold adjusted value attracts steady showings. In hot pockets, pricing slightly below recent solds can drive multiple offers and sell above ask. Premium pricing with patience only works when the home is uniquely superior or the market is rising fast.

   Discuss holdback room — if you expect multiple offers, your agent may recommend a list price that leaves room for bidding. That is pocket-specific, not universal.

   • At market — aligned with adjusted comps; steady showings expected
   • Below recent solds — urgency and multiple-offer strategy in competitive pockets
   • Premium — rare unique features; accept longer days on market as trade-off
   • Price band — some agents list a range; confirm exact MLS list price before launch
5. 5

   Calculate net proceeds before you commit

   Before signing list price

   List price is not what you keep. Subtract mortgage payout, commission per your listing agreement, legal fees, and any closing adjustments. A higher list price that sits 60 days may net less than a correct price that sells in two weeks — carrying costs and double moves add up.

   Your agent should provide a rough net sheet at one or two price points so you plan your next purchase realistically.

   • Mortgage discharge and any prepayment penalty from your lender
   • Commission — typically paid from proceeds at closing per listing agreement
   • Legal fees for the sale — typically $1,000–$2,000+
   • Repairs or credits negotiated after inspection reduce net
6. 6

   Launch, monitor feedback, and days on market

   First 14 days

   The first two weeks generate the most agent and buyer attention on a new listing. Track showing volume and written feedback — not just compliments. Patterns like 'loved it but small' or 'price felt high' tell you whether the issue is price, condition, or competition.

   Days on market (DOM) is visible to buyers and agents. A home that sits while neighbours sell signals overpricing or a problem — even if the problem is only perception.

   • Strong launch — photos live, showings easy, sign up, agent network notified
   • Review feedback with your agent weekly — first Friday and second Friday matter
   • Compare your DOM to recent solds in the pocket — if you exceed their DOM, discuss adjustment
   • Do not change price in the first 48 hours unless data clearly supports it — panic cuts hurt
7. 7

   Adjust price with a plan — not hope

   Week 3+ if needed

   If showings are low, feedback cites price, or DOM exceeds similar solds, a price adjustment is marketing — not failure. Your agent recommends a new price tied to fresh solds and remaining competition. A meaningful cut beats death by a thousand small reductions.

   Relisting or refresh strategies vary — discuss with your agent before you take the listing off MLS. PropTx rules and buyer psychology matter.

   • Agree a plan B at listing — 'If X showings in two weeks, we adjust by Y'
   • One strategic cut often beats several tiny reductions buyers ignore
   • Improve condition or staging before second price cut if feedback mentions condition
   • Sold data refreshes — new comps may support holding; new comps may force action