How to know a property is priced fairly

Most buyers don’t overpay because they’re careless — they overpay because they’re blindfolded. Prices online are rarely grounded in reality. They’re padded for negotiation, copied from neighboring listings, or inflated to test demand. If you don’t know how pricing actually works, you’ll either hesitate too long or move too fast. Here’s how to tell when a price makes sense.

1. Compare price per square foot — not total price

Two apartments can both cost 18M and be wildly different deals. What matters is price per square foot relative to similar units in the same building or street. Agents who avoid this comparison are hiding something.

2. Check how long the property has been listed

A property sitting for months isn’t “premium” — it’s resisted the market. That doesn’t make it bad, but it does mean leverage exists. If the agent won’t tell you how long it’s been active, assume it’s overpriced.

3. Separate asking price from closing price

Serious agents know what similar units actually sold for, not what they were listed at. If all you hear is asking prices, you’re negotiating in the dark.

4. Watch how flexible the seller is

Urgency reveals truth. Sellers who are relocating, refinancing, or managing vacancies negotiate differently. Price fairness isn’t just numbers — it’s motivation.

5. Factor in hidden ownership costs

Service charge, parking fees, repairs, and taxes change the real price. If these aren’t discussed upfront, the deal isn’t clean.

The bottom line
A fair price isn’t cheap — it’s justified. Once you understand what supports the number, you stop guessing and start negotiating from position.