Selling Your Home in Markham: Why Smart Pricing Matters in Today’s Market

Selling Your Home in Markham: Why Smart Pricing Matters in Today’s Market

Selling a home in Markham today isn’t as straightforward as it was during the peak years. The market has shifted. Detached homes are sitting longer, about thirty days on average, and only three out of every ten new listings are selling. The months of inventory has climbed to its highest point in the past year, and prices, while still a little higher than August 2020, continue to slide. In this kind of environment, simply putting up a “For Sale” sign and waiting won’t work. Success starts with choosing the right proactive real estate agent, and then making sure your pricing strategy is sharp.

Many homeowners believe the best strategy is to start high and gradually reduce the price until someone finally makes an offer. In reality, repeated price cuts almost always backfire. They create more competition, weaken your negotiating power, and send buyers the message that something may be wrong with the property. A smarter approach is to price it right from the beginning. Truly exceptional homes, like those backing onto ravines or renovated with high-end materials, can sometimes justify a premium. But most properties in Markham don’t fall into that category, and with so much inventory available today, buyers have the luxury of choice.

For most sellers, the better approach is to look at what has actually sold in the past few months, compare similar homes, and study which listings didn’t move. This gives a clear picture of what the market accepts and what it rejects. From there, you can decide how to play the game. Some homeowners choose to price slightly below market to spark attention and create a bidding environment. In a busier season, that can work, list 10–15% under and let competition push the price back up. Others prefer to set a number just above the market, creating a psychological anchor so buyers feel they’ve negotiated a win when they come in a little under. A third option is to place the home right below key thresholds, such as $999,000 instead of $1,020,000, to capture more buyers searching within a price band.

The point is, pricing isn’t random, it’s strategy. The wrong number can make your home practically invisible, while the right number can position it as the top choice in its category. Overpricing not only slows down your own sale, it often triggers a ripple effect in the neighborhood. When one seller lists too high, nearby homeowners may think they can do the same, and suddenly several properties are priced above what the market will bear. The result is a cluster of overpriced listings that sit unsold, which discourages buyers from even considering that street or community. In today’s market, buyers have plenty of options and no urgency; they can simply shift their attention to another neighborhood where pricing is more realistic. Instead of attracting buyers, overpricing ends up pushing them away and that’s the last thing you want in a buyer’s market.

And even when you’ve set the right price, how you handle offers matters just as much. Negotiation isn’t only about numbers; it’s about empathy. If a buyer feels dismissed or insulted, they’ll walk away no matter the deal. But if you frame your position with respect, backing it with market data, acknowledging the effort a family has put into their home, or showing flexibility on closing terms, you open the door to agreement. I’ve seen sellers who softened their stance simply because they felt understood, and buyers who paid a little more because they felt the home carried meaning.

Markham’s market today requires sellers to be realistic, thoughtful, and strategic. Homes can still sell well, but it takes more than waiting and hoping. It takes smart pricing, careful positioning, and a human touch at the negotiation table.




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