Every day, on the Sudbury MLS system, we see overpriced listings. The cause could be one of many reasons, so over the years I’ve kept track of a few… So here we go!
Often the seller has high expectations, and it’s usually tied to a property they saw listed for sale and they felt their property was similar. They think “so this must be the price”. However, listings are not what we use for appraisals; its sales. What did someone pay - now it's a comparable!