Market Value
How to determine what your home is worth.
Guide
Market Value
Market value is what a willing buyer will pay a willing seller today. It's driven by more than just square footage.
Introduction
Pricing correctly from day one attracts the most qualified buyers and often produces multiple offers.
Understand Market Conditions
- Buyers' Market: More listings than buyers — prices soften and negotiations favour buyers.
- Sellers' Market: More demand than supply — multiple offers, bidding wars, and firm prices.
- Balanced Market: Supply and demand roughly equal — homes sell close to list price in a reasonable time.
Major Factors
Location, size, layout, condition, upgrades, lot dimensions, and neighbourhood amenities all shape value.
Asking Price
Price too high and buyers skip your home; price too low and you leave money on the table. Strategy matters.
Comparative Market Analysis (CMA)
A CMA compares your home to recently sold, currently listed, and expired listings in your neighbourhood to establish a realistic price range.