The Importance of Pricing Your Home Correctly
While summer doesn’t officially wrap up until September 21, the Labour Day weekend always feels like the real turning point. Once it passes, the pace of life shifts – kids are back in school, traffic thickens (sigh), and everything suddenly feels a little more serious again. It’s also an energizing time, especially for homeowners who’ve been considering a move. Many choose this season to put their selling plans into action. Whether your home is already “camera ready” or you’re just beginning the prep process, one thing is certain: pricing is more than just picking a number – it’s a strategy that determines how quickly your home sells and at what value. And in today’s market, it’s especially important to get it right.
First impressions drive results
The first two weeks on the market are when your property receives the most attention. Buyers and their agents are watching closely, and if the price is off, they’ll move on. Even with a later price reduction, the listing may be viewed as “stale,” and buyers may assume there’s a problem. We often will “re-list” the property at a new price, but the history of the old listing remains.
Why “testing the market” backfires
Some sellers believe starting high gives them negotiating room. This is a myth. The reality is that this so-called strategy works against you. Data consistently shows that the longer your listing sits on the market, the lower your eventual sale price.
The 2021 effect is behind us
The COVID-era price surges were fueled by unsustainably low interest rates and unusually tight supply. Those conditions no longer exist. Today’s buyers are very well informed, highly selective, and less willing to overpay. Understanding this shift is key to setting realistic expectations.
Strategic pricing attracts competition even in this market
Pricing in line with market value doesn’t mean underselling – it means creating interest and urgency. The right price positions your home as a strong option, allowing you to have a much stronger negotiating position.
Bottom line: Pricing is not guesswork – it’s a data-driven strategy. By analyzing recent sales, micro and macro trends, and the current mindset of buyers, we can position your home for success in today’s market.
