How much is my property worth? This is a common question REALTORS® hear every day and it's not always an easy answer. A better question to ask is "How do REALTORS determine the price of a property?" The most common way our REALTORS® determine the price of a Toronto Condo is by completing a Comparable Market Analysis, or CMA for short. Our REALTORS® look at all the comparable properties that sold in the past 180 days to get an idea of what homes are going for in your area. We then take into consideration certain features that your property may have that others may not, or vice versa. For example, if your condo unit is on a higher floor, has top of the line features, or a killer view!
Of course, it's not always that simple. Choosing the right price can be a delicate situation. Price your condo too high and your property could be sitting on the market for a long time and you may end up getting a lot less than what it's worth. Price your condo too low and you may not get what your property is worth, or cause a bidding war frenzy.
A good Realtor will help you list your property at just the right asking price that will obtain the highest price possible in today's Toronto market.Free Home Evaluation