There's one mistake I watch sellers make more than any other right now. It's not the paint colour, and it's not the messy closet. Based on what's actually sold in Kings County this year, it can cost you around $50,000.
The mistake is testing the market: listing high to "see what happens," knowing you can always come down later. It sounds harmless. Here's what it's actually doing to sellers across the Annapolis Valley.
What testing the market really costs
I went through every home sold in Kings County, Nova Scotia between January 1 and October 6, 2026, and split them into two groups: homes that never changed their price, and homes that had to come down at least once.
About two out of three never changed their price. Those homes sold for almost exactly what they were listed at, and the typical one was firm in under two weeks. More than one in four of them actually sold over asking.
The homes that had to reduce ended up selling for about 12% less than where they started. The typical one took around three months to sell.
On a $450,000 house, that's roughly $50,000. Plus three months of mortgage payments, showings and keeping the house spotless.
To be fair, not every one of those homes was simply overpriced. Some had other issues. But the pattern is hard to ignore.
Why overpricing backfires
Your first two weeks are your best shot. That's when every buyer who's been waiting for a home like yours sees it at the same time. Price it right, and that's where the strong offers come from. Price it high, and those buyers scroll right past. They don't come back when you reduce. They've already bought something else.
Buyers search by price. If your home is worth $425,000 but you list it at $475,000, the people who should be buying it never even see it. The people who do see it are comparing it to nicer homes at that price.
Buyers can count. They see how long a home has been on the market, and they see every price drop. After a while, the question in their head isn't "should I make an offer?" It's "what's wrong with it?"
That's the trap. You end up selling for less than if you'd started at the right price, just later.
"But I want room to negotiate"
I hear this one a lot, and I understand it. But in today's Kings County market, buyers don't negotiate down from a high price. They just don't show up.
The homes with the most negotiating power this year were the ones priced right, because that's where multiple offers happen. When two buyers want the same house, you're not negotiating down. They're negotiating each other up.
Why sellers do it
Sellers who overprice usually aren't being greedy. It tends to come from a reasonable place. Maybe a neighbour sold for a great price last spring. Maybe an online estimate gave you a big number. Maybe you've put a lot of money into the house, or there's a number you need to walk away with for your next move.
All of that is real. But buyers don't know any of it, and they only compare your home to what else they can buy today. Right now, more than four in ten homes for sale in Kings County have already cut their price. A lot of sellers started from last spring's market. Buyers are living in this one.
Should you sell now or wait until spring?
This is the other big question I'm hearing. Honestly, it depends.
Spring was the peak this year in the Annapolis Valley. Homes moved very quickly and multiple offers were common. Since the summer, things have slowed to a more normal pace. Not a crash; more like the market took a deep breath.
Spring will bring more buyers, but it also brings more sellers. You'll have more people looking, and more homes to compete with. Fall buyers, on the other hand, are serious. Nobody tours houses in November for fun. They have a reason to move, and they have fewer homes to choose from.
My honest take: if you're going to wait for spring, wait so you can get the house ready and get the price right. Don't wait so you can try a higher number. Overpricing in April costs you the same way it does in October.
How to price your home right
Price it off what's selling today. Not what sold last spring, and not what you need to net. Look at the homes you'll be competing with, not just the ones that already sold.
Make your first two weeks count. Clean, bright, well-photographed and ready to show. You only get one first impression with the buyers who are waiting.
Agree on a plan before you list. If the showings and feedback aren't there after a couple of weeks, have an honest conversation early, not three months in.
The bottom line
The best price you'll ever get is usually in your first few weeks on the market. Price it right, and the market tends to reward you. Test it, and the market tends to teach you.
Thinking about selling in the Annapolis Valley?
Whether you're in Kentville, Wolfville, New Minas, Berwick, Coldbrook, Port Williams or anywhere in Kings County, I'm happy to give you an honest opinion on where your home should be priced, this fall or next spring.
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Bruce McGaw, REALTOR®, EXIT Realty Town & Country. All information from NSAR MLS®, accurate as of pull date (October 6, 2026).
