Understanding sold prices

Seven steps to using sold data like a pro

You do not need to be an appraiser. You need a repeatable process — and an agent who interprets the nuance with you.

1. 1

   Sign in and open sold search

   Before serious showings

   Create a free account, verify your email, and accept our terms of use. Sold listings live on the same search page as active listings — switch to sold mode to see what closed in your target areas.

   Without sign-in, sold cards show limited teaser information only: no sold price, no sold photos, no full VOW fields. That protects MLS data and matches PropTx rules. Once you are registered, you get sold prices, sale dates, days on market, and sold property details.

   • Sold data is for personal, non-commercial use with a bona fide interest in real estate
   • Do not scrape, redistribute, or use sold MLS data for business purposes
   • Session may time out after inactivity — sign back in when you resume research
   • Bookmark or save searches so you and your agent revisit the same comp set
2. 2

   Draw a tight comp zone — not the whole city

   15–30 minutes per target area

   A comparable sale is not just the same city name. In the GTA, value shifts block by block — school catchment, train noise, backing onto a ravine, or a busy arterial can move price more than an extra bedroom.

   Start with the subject property's neighbourhood pocket: same subdivision, same side of the major road, or the same condo building for high-rise units. Expand outward only when you run out of recent sales.

   • Same property type — compare detached to detached, condo to condo, not cross-type
   • Similar bed and bath count — a three-bed competes with three-beds, not five
   • Similar square footage band — within roughly 15%–20% for houses when data is available
   • Same tenure — freehold vs condo; fee structure matters
3. 3

   Filter and shortlist true comparables

   30–60 minutes

   On our listings page, filter sold listings by city, property type, bedrooms, and features that matter to you. Prioritize sales from the last three to six months in a balanced market; in fast-moving periods, weight the last 90 days more heavily.

   Open each sold detail page and note list price versus sold price, days on market, and sale date. A home that sold in five days with multiple offers tells a different story than one that sat 90 days and sold below ask.

   • PropertySubType matters — a townhouse and a detached home are not interchangeable comps
   • Lot size, frontage, and parking (garage vs lane) affect value on freehold homes
   • For condos: same building first, then nearby buildings with similar age and fee levels
   • Ignore non-MLS sales, old listings from memory, and asking prices on active homes as 'comps'
4. 4

   Adjust for differences you can see

   With your agent

   No two homes are identical. After you shortlist comps, adjust mentally (or with your agent's CMA) for renovations, kitchen and bath updates, basement finish, HVAC age, and obvious condition issues.

   Location adjustments are often the largest: backing onto greenspace versus a parking lot, corner lot versus interior, or a finished basement walkout versus unfinished storage.

   • Renovated kitchen/baths usually command a premium — original 1990s finishes sell for less
   • Legal basement apartments and second suites can add value where permitted — verify with your agent
   • Environmental factors: flood plain, busy road, or commercial adjacency — compare like to like
   • Newer roof, windows, or furnace reduce near-term buyer risk — worth a small premium
5. 5

   Pair sold history with active competition

   Same research session

   Sold data tells you where the market closed. Active listings tell you what you are competing against today. If three similar homes are listed below recent solds and not selling, the market may be softening. If everything sells in a week above ask, expect heat.

   Your agent should map both: recent solds set the anchor; active inventory shows supply and seller expectations right now.

   • Count similar actives at your price point — high supply gives you leverage
   • Note how long actives have sat — stale listings may accept sharper offers
   • Watch list-to-sold ratios on recent closings in the pocket — above ask is common in GTA bidding wars
   • Seasonality matters — spring volume differs from quiet December weeks
6. 6

   Build an offer range — not a single number

   Before the offer night

   From comps and active competition, your agent proposes a range: a target price, a stretch for multiple offers, and a walk-away ceiling. That range should align with your pre-approval — sold research is useless if the number exceeds what you can close.

   In multiple-offer situations, sold data still matters — it tells you whether the winning bid is rational or emotional. Some buyers overpay; sold comps help you decide when to walk.

   • Target — where comps suggest a fair deal in a balanced scenario
   • Stretch — your maximum if one other strong offer is likely
   • Walk-away — the price where you let it go without regret
   • Deposit size, closing date, and conditions still affect acceptance — price is not the only lever
7. 7

   Re-check comps the day you write

   Offer day

   Markets move. A new sold on the same street yesterday changes the conversation. Before your agent drafts the Agreement of Purchase and Sale, refresh sold search — especially if your last comp review was more than two weeks ago.

   Bring your shortlist to the offer table. If the seller counters, comps justify your position — or tell you to meet the market.

   • New competing active listed this week — factor it in
   • Rate changes and season shifts can move buyer pool size
   • Share your comp notes with your lawyer if unusual clauses appear
   • After acceptance, sold research is done — shift to conditions and closing