Perfect for first-time buyers in Vancouver & Metro Vancouver. One of the biggest worries for homebuyers—especially in a competitive market like Vancouver—is paying more than a property is truly worth. So how do you know if a listing is priced correctly?
Here are 5 key signs to help you evaluate any home with confidence.

1. Compare Active vs. Sold Listings — Sold Data Always Tells the Truth

Active listings only show what sellers hope to get.
Sold listings show what buyers are actually willing to pay.

A properly priced home should:

• Fall within the same price range as similar sold properties

• Match the size, condition, age, and location of recent sales

• Not be higher than sold comps without a strong reason

If the listing is 5–10% above recent sold prices with no clear justification → likely overpriced.

2. DOM (Days on Market) — A Quick Indicator of Pricing Health

DOM reveals how long a home has been listed.

Signs of accurate pricing:

• New listings (within the first 5–14 days) are usually priced close to market value

• Homes sitting on the market for 30–60+ days often indicate overpricing

Multiple price reductions?
→ The seller is adjusting down toward the true market value.

3. Is the Home in a "Hot" Area? Location Matters

Hot neighborhoods typically include areas with:

• SkyTrain or strong transit access

• Good schools

• Shopping centers and amenities

• High rental demand

• Newer infrastructure

If a listing in a desirable area is aligned with recent sold prices, it’s likely priced correctly.
If a listing in a mediocre area is priced like a hot neighborhood → proceed with caution.

4. Seller Motivation — How Eager Are They to Sell?

Seller motivation plays a big role in pricing strategy.

Signs a seller is pricing realistically:

• The home is vacant

• The seller already purchased another property

• Price reductions appear early

• Phrases like “motivated seller,” “quick possession,” “priced to sell”

Signs of overpricing:

• Seller refuses to negotiate

• High DOM with no price changes

• Pricing based on emotion or expectation, not market data

5. Condition of the Home vs. the Price — Does It Match?

A properly priced home reflects its actual condition, including:

• Age and quality of construction

• Condition of interior finishes

• Updated kitchen and bathrooms

• Roof, windows, plumbing, electrical

• Quality of renovations

A fairly priced home should:

• Be slightly higher if renovated and move-in ready

• Be lower if it needs repairs or upgrades

If an older, outdated home is priced the same as fully renovated ones → risk of overpaying.

Conclusion: How to Avoid Overpaying

A well-priced listing will show alignment between:

• Sold comps

• DOM

• Location

• Seller motivation

• Property condition

Tips for first-time buyers:

• Always review sold data—not just active listings

• Ask your Realtor for a comparative market analysis (CMA)

• Don’t be influenced only by staging or beautiful photos

• Focus on long-term value, not emotional reactions

If you’d like help evaluating whether a listing is fairly priced, Emily Vu can provide a detailed analysis and negotiation strategy to ensure you never overpay.

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