How to Determine the Optimal Price of Your Home
An Overview of Real Estate Pricing
Home buyers will determine the market value of a home based on their analysis of what comparable homes have sold for in your neighbourhood.
A nearby park is the kind of thing which can substantially increase
the value of your house (by Cindy McCravey)
This process will be facilitated by their real estate sales representative who will conduct a market analysis of a neighbourhood using historical data (e.g., TREB).
The value of a home will be largely determined by this comparative process. Comparative Market Analysis is the most effective method by which to determine what potential buyers will be willing to pay for a home.