Ask a Wahi REALTOR®: How Do You Assess Whether a Property is Fairly Priced Compared to Recent Sales in the Area?

Overpaying for a home is a top concern for Canadian buyers. Here, Wahi Broker of Record Anne Alkok explains how you can best avoid this scenario. 

By Josh Sherman | 2 minute read

Wahi.com and the Wahi App boast a number of features that can help homebuyers determine whether a home is listed for sale at a reasonable market price.

Nobody wants to overpay — especially during times of economic uncertainty.

More than half (51%) of the respondents to a recent TD Bank survey say they’re planning to trim their spending in 2025.

While many respondents are cutting back on smaller-ticket items, such as ordering takeout or attending concerns and sporting events, it appears concerns apply to real estate, which makes sense. After all, for most Canadians, a home is the biggest purchase they will make in their lifetime.

A separate survey from the Canada Mortgage and Housing Corporation found that the top concern among current mortgage borrowers in 2025 was paying too much for their home.

There’s no fool-proof method to avoid spending too much on a home. However, homebuyers can do their due diligence to assess whether a property is fairly priced compared to recent sales in the area. We caught up with Wahi Broker of Record Anne Alkok to find out how.

1. Compare Home Attributes  

When searching listings on wahi.com or the Wahi App, registered users can also see previous sales in a specific geographic area. Results can be filtered to only include homes that meet certain criteria.

If you’re trying to gauge whether a home has been listed for a fair price, use the previously sold filters to find homes that have comparable attributes and features. “Look at sales of similar homes in close proximity to the home you are considering and select homes with similar features,” advises Alkok.

These features include the following: age, number of bedrooms, number of bathrooms, family room or den, walkout basement, and single- or double-car garage.

Keep in mind that some features influence a home’s value more than others and you may want to take a closer look at each individual listing. “Look at interior photos on wahi.com, and consider layout and updates as they may impact market value,” says Alkok. For instance, two homes may appear to share near-identical attributes, but one could have been renovated more recently or with higher-quality finishes. 

2. Compare Property Attributes 

In addition to the physical characteristics of a home, property attributes play a part in  assessing whether a property is fairly priced compared to recent sales in the area.

For a single-family home, this includes the lot size (width and depth) as well as what the property is situated near. Homes that back onto green space are often desirable, and often waterfront lots command a premium, as recent Wahi analysis of GTA home sales data suggests.

On the flipside, some buyers are hesitant to purchase a property that is too close to railway tracks or a highway. 

When comparing condo listings, take the monthly maintenance fees and building-specific amenities into account. Other considerations are the view and exposure or orientation of the unit.

3. Check the Wahi Home Value Estimator  

To help homebuyers and sellers obtain a realistic valuation instantly, Wahi has developed its own free home value estimator. Using a proprietary home value estimation algorithm, the tool drills down into a variety of property characteristics for both single-family homes and condos to provide a realistic valuation (learn how Wahi’s Home Value Estimator works).