There’s no way to sugarcoat it — today’s real estate market in Niagara is competitive, and not in the way most sellers would hope. We’re in a buyer’s market. Inventory is up, and motivated buyers have choices. That’s why pricing your home too high — even a little too high — can cost you in the long run.
Here’s what sellers need to understand: Overpricing doesn’t just mean your home might sit longer. It signals to buyers (and their agents) that you may not be serious. And in a market where they already hold the upper hand, most buyers won’t waste time on listings that feel overpriced or out of step with current market value.
So, what actually happens when you overprice?
Your listing becomes stale.
The first two weeks on the market are your most critical. That’s when your home gets the most attention — from buyer alerts, searches, and showing requests. Overpricing during this window means you’re likely to miss out on serious buyers who could’ve acted quickly. Once that window closes, interest drops off sharply.You attract the wrong audience.
If your home is worth $649,000 but you list it at $749,000 “just to test the waters,” you’re advertising to a buyer group that expects more — more square footage, a newer kitchen, a bigger lot. When your home doesn’t deliver what buyers in that price range are looking for, they move on.Price reductions send a signal.
Reducing your price after weeks on the market doesn’t always work the way sellers hope. Buyers may assume something is wrong with the home or think you’re becoming desperate. That can lead to lowball offers or drawn-out negotiations. In short: the longer you’re listed, the harder it can be to recover momentum.You could walk away with less.
Ironically, overpricing often leads to a lower final sale price. Homes priced correctly from the start tend to sell faster, closer to asking and sometimes even over asking. A well-priced home can even attract multiple offers, giving you leverage in a buyer’s market — but only if buyers see it as a strong value right out of the gate.
Here’s what to do instead:
Rely on recent data, not emotion.
The market doesn’t care what your neighbour sold for last year or what you “need” to get out of your home. I know that’s tough to hear — but considering today’s actual comparables, trends, and buyer behaviours will put you in the best position.Listen to agent feedback.
If your home has showings but no offers, or visits but no second looks, it’s likely a pricing or presentation issue. In this market, we can’t afford to ignore those signs.Price to entice, not to test.
A strategic price doesn’t mean underselling — it means getting in front of the right buyers with the right expectations. That’s how you create urgency, not hesitation.
Bottom line: Smart pricing isn’t about leaving money on the table — it’s about securing the best offer in the current market. And in a buyer’s market, the best offer isn’t always the first one... unless you position your home properly from day one.