By Mohsin Lakhani · Benson Crew Real Estate, REAL Broker Ontario Ltd., Brokerage
Overpricing in the current market doesn't just slow things down — it can cost you the sale entirely, since buyers now have the time, choice, and negotiating leverage to simply wait out an overpriced listing rather than compete for it. Pricing accurately from day one matters more now than it has in years.
Days on market are up across much of the GTA, inventory has increased, and conditional offers — financing and inspection conditions — are back on the table after largely disappearing during the tighter markets of recent years. Buyers are negotiating harder and taking their time, which means a listing that sits too long doesn't just wait quietly — it starts signaling desperation.
If your pricing reference point is what a similar unit sold for a year or two ago, you're likely starting too high. Comparables need to reflect what's actually happened in your specific building or neighbourhood in recent months, not what the market looked like at its peak.
A listing that lingers tends to attract lower offers over time, not higher ones — buyers watching days-on-market climb assume there's a reason nobody's bought it yet, whether or not that assumption is fair. A price reduction after weeks on market often nets less than pricing accurately from the start would have. See also: the real cost of overpricing your condo →
Decluttering and depersonalizing costs nothing and remains one of the highest-impact things a seller can do. Clean, well-lit photos consistently outperform expensive staging furniture — a few well-placed pieces go further than a full professional stage, especially for a starter condo.
A current comparative market analysis, based on recent sold prices in your specific building or immediate area, is the most reliable starting point — not general neighbourhood averages.
In the current market, this often backfires — buyers are more likely to skip an overpriced listing entirely than to make a lowball offer and negotiate up.
Conditional offers are normal again in this market, not a red flag. Financing and inspection conditions protect the buyer without necessarily indicating a weak offer.
This varies significantly by building, price point, and condition — a current market evaluation for your specific property gives a far more accurate estimate than a general market statistic.
This post is provided for general informational purposes only. Market conditions shift — get a current, property-specific pricing evaluation before listing.