Price It for the Market You’re In

There is a window of opportunity that exists every fall in real estate, and for sellers who genuinely want to move, that window matters. We are heading into October; summer is behind us, buyers are back into their routines, and there is still meaningful activity happening across the residential real estate market. At the same time, history tells us that as we move deeper into fall and toward the winter months, the number of active buyers will generally begin to shrink. That does not mean homes stop selling, but it does mean sellers have fewer opportunities to capture the attention of buyers who are ready, willing, and able to make a move. If you have an active listing today and your seller is motivated, this is an important moment to make sure the property is positioned to sell.

Across many markets, the landscape looks different than it did during the exceptionally tight markets of recent years. Buyers have more choice in a number of segments, sales activity has moderated in some areas, and properties are often taking longer to sell. None of that means we are dealing with one universal market. Some price ranges remain competitive. Some property types are performing considerably better than others. Certain neighbourhoods and communities have relatively limited inventory, while others are giving buyers a much wider selection. The lesson is not that every seller needs to reduce their price. The lesson is that every seller needs to understand exactly which market they are competing in.

The Market Sets the Price

One of the most difficult conversations in real estate is explaining to a seller that their property may not be worth what they hoped it would be. Sellers naturally attach value to their homes based on what they paid, what they have invested in improvements, what a neighbour sold for six to twelve months ago, or what they need from the sale to make their next move. Those things are important to the seller, but none of them determine what a buyer is prepared to pay today.

Pricing is ultimately a competition for attention. A buyer looking at a home does not evaluate it in isolation. They compare it with every other property that fits their criteria. If there are five reasonable alternatives and four of them appear to offer better value, the fifth property may simply be eliminated from consideration. In a market with more choice, buyers can afford to be patient, and that makes positioning even more important.

This is where the REALTOR® earns their value. Pricing should not be based on a broad headline about what the Alberta or British Columbia market is doing. An apartment in one neighbourhood can face completely different conditions than a detached property fifteen minutes away. A particular price bracket can be experiencing strong demand while the bracket immediately above it is sitting with significantly more inventory. The work is in understanding the competition, the recent sales, the listings that have failed to sell, current inventory, days on market, and how buyers are behaving within that very specific segment.

Do Not Chase the Market Down

The danger of being overpriced is not simply that the property takes longer to sell. The bigger risk is that the market moves while the listing stands still.

A seller might decide to start high and "see what happens." After several weeks without an offer, they reduce the price. By then, new competing properties may have come onto the market, other sellers may have adjusted their prices, and the pool of buyers who were most interested when the listing was fresh may have already purchased something else. The seller is now reacting to the market instead of being positioned ahead of it.

That becomes increasingly important as we move toward winter. If a motivated seller intends to sell in 2026, there is little advantage in spending October testing a price that the market has already rejected. The better conversation is about what it will take to become one of the properties buyers choose to see now. Sometimes that means a price adjustment. Sometimes it means improving presentation, changing photography, addressing a property deficiency, offering better showing availability, or relaunching the marketing strategy. Often it is a combination of several things. But if price is the problem, marketing alone will not solve it.

Listen to What the Market Is Telling You

Once a property is listed, the market begins providing information almost immediately. Our job is to listen to it.

If a property is generating significant online traffic but very few showings, buyers may be rejecting the value proposition before they ever walk through the door. If there are plenty of showings but no offers, something is preventing buyers from making the leap from interest to action. If the consistent feedback from REALTORS® and buyers is that competing properties offer better value, that information cannot simply be dismissed because the seller disagrees with it.

The absence of activity is also feedback.

Listing agents should be bringing this information back to their sellers regularly. Review the new competition. Look at what has sold since the property was listed. Pay attention to price reductions, expired listings, terminated listings, and properties that are accumulating significant days on market. Then compare all of that information with your own listing. The goal is not to convince a seller to reduce their price. The goal is to give them enough accurate information to make an informed decision.

Different Markets Require Different Conversations

One of the clearest themes across the market right now is that there is no single market story. Conditions can change dramatically by community, price point, and property type. In parts of Alberta, some lower-density housing segments remain relatively balanced while higher-density categories are experiencing more supply. In other communities, inventory levels are much tighter. In the Central Okanagan, recent data also show meaningful differences between single-family homes, townhouses, and condominiums in terms of pricing, sales activity, inventory, and the time required to sell.

That makes broad statements like "it's a buyer's market" or "the market is still strong" far less useful to a seller than a detailed analysis of their actual competition. Your seller does not need to know what every property in the province is doing. They need to know what the ten or fifteen properties most likely to compete with theirs are doing.

That homework is our responsibility.

Before recommending a price adjustment, update the CMA. Look at what has happened since the property came to market, not simply what happened before it was listed. Identify the listings buyers are choosing instead. Explain where your seller sits within that competitive set and, most importantly, provide a recommendation rather than simply handing them the data.

Create a Reason to Act

Price is not about being the cheapest property in the neighbourhood. It is about creating enough value that a buyer feels compelled to act.

When buyers have choices, the best-positioned properties stand out. They generate showings. They create conversations. They make buyers concerned that somebody else might purchase the home before they do. That is the emotion we want to create.

A property that sits slightly above the market often creates the opposite response. Buyers assume they have time. They watch it. They wait for a reduction. In some cases, they begin to wonder what is wrong with it simply because it has been available for so long. The longer that pattern continues, the harder it can become to recreate the excitement that existed when the listing was new.

That is why now matters.

Have the Conversation Now

If you have an active listing heading into October, take another look at it with fresh eyes. Forget where it started. Forget what the seller hoped would happen. Look at what has actually happened since the listing hit the market.

Has the competition changed? Have comparable properties sold? Are buyers responding? Are showings slowing? Has the listing accumulated enough days on the market that it is becoming easier for buyers to overlook? Most importantly, does the current price still give your seller the best opportunity to accomplish their goal?

For sellers who are motivated to sell, there is still time to take advantage of the fall market. The objective is not to panic, discount a property unnecessarily, or assume that winter means nothing will sell. It is to recognize that time is a factor and use the information available today to make the smartest decision possible.

Price is not something we set once and defend indefinitely. It is a strategy that should evolve as the market gives us new information.

Do the homework. Have the conversation. Position the property where buyers will see the value.

And give your seller the best possible opportunity to get sold before winter arrives.