Setting a selling price is tricky, but it gets worse when there’s nothing to go on. Some developments haven’t seen transactions in years; and this is especially the case with very old projects, or boutique condos (e.g., fewer than 50 units).
How would you set your selling price here!?
In these situations, it’s hard to estimate the “right” selling price for your home; and some trial and error is bound to follow. However, there are a few methods you can use to help:
How do you find price points if no one in your development is selling, or has sold for years?
- Use third-party professionals or sites
- Expand your search to a one-kilometre radius
- Look for district or town price averages
- Check for rental data, if it’s available
- If you need to find the price point fast, consider an auction