Hillcrest Village, Pleasant View, Don Valley Village, and Bayview Woods–Steeles Tens of Thousands
The most common mistake I see when selling a freehold home is starting too high.
Many homeowners choose a price based on:
- What a neighbor sold for
- What the house might be worth in a strong market
- Online home value estimates
The intention is understandable. No one wants to leave money on the table.
But here’s what often happens.
A home is listed slightly above market value.
At first, there are very few showings. Buyers see the price and move on to other homes they feel are better value.
After a few weeks, the price is reduced.
By that time, the most active buyers have already seen the listing and passed on it. New buyers begin to wonder why the home hasn’t sold.
Another price reduction follows.
Now the home appears “stale,” even if it is well cared for. Buyers feel they have leverage and start making lower offers.
Here is a simple example I see often in Hillcrest Village, Pleasant View, Don Valley Village, and Bayview Woods–Steeles:
A freehold home that should sell around $1.45 million is listed at $1.55 million.
After three weeks with little interest, the price is reduced to $1.49 million.
Later, it sells for $1.43 million after negotiations.
The original goal was to aim high.
The result was selling below where it could have sold with a strong start.
Pricing is not about guessing or testing the market.
It’s about understanding how buyers react in the first few weeks, when interest is highest.
Once that window is missed, the seller’s position becomes weaker — even in good neighborhoods.
This is one of the quiet ways homeowners lose value without realizing it.
Richard Wang 