Last updated: September 15, 2026.

There are many factors to consider when selling a home, from marketing to offer negotiations, but the most important of all is, without a doubt, the price. The price is the first impression buyers get of a home, before they even look at the photos or the listing details, because it is the limitations of their budget that narrows their search. That's why ensuring your home is priced accurately and fairly from the start is key to a smooth, timely sale. So, in order to do so, you'll want to avoid these common home pricing mistakes.

Where the Saskatoon Market Actually Is Right Now

Before you price your home, anchor to the current market, not what the market looked like a year ago. As of the August 2026 SRA release, Saskatoon's total residential benchmark price was $444,700, average days on market sat at 28 days (vs a 10-year August average of 42), and months of supply was just 2.16. See the full August 2026 Saskatoon market update for the property-type breakdown and year-over-year change.

Property-type benchmarks vary widely. For August 2026, Saskatoon detached benchmark sat at around $515,300, semi-detached at $367,200, row/townhouse at $264,400, and apartment condo at $65,900. That is a real spread, and it tells you the same phrase, "the Saskatoon benchmark", means five different numbers depending on your property type. Use the number that matches your home, not the composite.

Not sure where your home sits against these anchors? Request a free home evaluation and I'll pull the actual comparable sales for your street and property type.

Pricing With No Research

If selling a house were as simple as pricing from the heart, the world of real estate would be a much simpler place. It is not. When it comes to pricing a home for sale, it is crucial to take cold, hard facts from the local market statistics and actual sales to make a data-driven decision that reflects what buyers are willing to pay today.

Data you'll want to research before pricing your home to sell should include actual sales data from comparable homes in your area, as well as average list-to-sale price ratios. These give you a realistic idea of what actual sales in your neighbourhood have been, and an understanding of what buyers are looking for in terms of prices for homes similar to yours. Just as important, you'll want to look at unsold homes in the area, too. This can be useful in determining certain pricing trends to avoid that may have prevented buyer interest, like overpricing.

Pricing Based on a Neighbour's or Friend's Listing Price

Many sellers fall into the common misconception that their home will sell for the same as their neighbour's or a friend's similar home. In reality, every house is as different and unique as the families who live in it. While your neighbour's home might be just next door, it could be a completely different build than yours, with more attractive upgrades or additions than your own, or vice versa. The same goes for a friend or family member's home. It may have the exact same number of bedrooms and bathrooms, but the neighbourhood you live in may be more or less desirable than theirs.

It's important to remember that your home, while it may look similar at face value, likely will not perfectly match up with others on the market. Pricing should be customized specifically for your property each time you sell, based on multiple comparisons, not just one or two.

Hiring the REALTOR® Who Offers the Highest Listing Price

When choosing the right REALTOR® for you, one of the most important things as a seller is to ask for a custom home valuation to see what that agent thinks your home should be listed at. And if you are interviewing multiple agents, you may notice that their idea of pricing is slightly different, sometimes even vastly different, which should raise a red flag.

While it may sound nice to list $20,000 to $30,000 more than the other REALTORS® recommended, be wary of agents who try to poach the listing by offering the most attractive sale price. Overpricing can be devastating to a listing, leading to more days on market, more time and money spent for you, and constant price reductions that could signal trouble to a buyer.

Always ask every real estate agent about the comparable sales data they used to reach that price, and don't be afraid to request a paper copy of their comparative market analysis for your records. Ask them to justify the price they believe to be right, and if they can't provide a solid argument, don't be afraid to walk away.

Emotional Pricing

Over the past number of years in your home, you have developed a stockpile of experiences, memories, and emotions related to your house, which may add value in your eyes. But remember: buyers don't have those same feelings. Your home is a totally new territory for them, a blank canvas for them to start fresh. So the added value you might feel is right will be entirely lost on them.

This is where the opinion of an unbiased third party, like a knowledgeable and experienced local real estate professional, can be incredibly helpful. They can see your home at face value without any emotions tied to it, and set reasonable expectations for what your listing price should actually be for buyers to show interest.

Ignoring Days on Market and Supply

Price is not set in isolation. Days on market and months of supply tell you whether the market is punishing overpricing or forgiving it. With Saskatoon at 28 days and 2.16 months of supply as of August 2026, buyers are still deciding quickly and inventory is thin, so a correctly priced home sells fast. If DOM starts drifting higher and supply climbs above three months, the market's tolerance for optimistic pricing narrows and price reductions come faster.

Don't let overpricing get the best of you and your property. By avoiding these common pricing mistakes and enlisting the help of an experienced local REALTOR®, you can be sure to get the quickest, simplest sale with the best price possible in today's market.

For more information on selling your home or to request a free custom home valuation, contact me today.

FAQs

How should I research the right price for my Saskatoon home?

Start with actual sales data from comparable homes on your street and in your neighbourhood, along with average list-to-sale price ratios. Anchor to the current Saskatoon benchmark for your property type (about $515,300 detached, $367,200 semi-detached, $264,400 row/townhouse, and $65,900 apartment condo as of August 2026), not the composite headline number.

Why should I look at unsold homes before pricing my property?

Unsold homes can reveal pricing trends that may have prevented buyer interest, including overpricing. Reviewing them alongside comparable sales helps you understand what pricing strategies are not working in your neighbourhood right now.

Should I price my home based on what my neighbour sold for?

Not necessarily, because homes that appear similar can differ in construction, upgrades, additions, condition, and lot. Your price should be built from multiple comparable sales, not based on one neighbour's listing or sale price.

Is the REALTOR® who suggests the highest listing price the best choice?

A high suggested price is not automatically a sign that an agent will achieve the best result. Ask each REALTOR® for a comparative market analysis and see whether their number is supported by recent Saskatoon comparable sales, current DOM, and current months of supply for your property type.

Why is accurate pricing so important right now in Saskatoon?

With Saskatoon at 28 average days on market and 2.16 months of supply as of August 2026, correctly priced homes are still moving fast. Overpricing burns the critical first two weeks on market, which is when the freshest buyer attention shows up, and price reductions signal weakness to buyers even in a tight market.

Posted on June 9th, 2020

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How NOT to Price a Home