Guess the closing price: this average-condition, two-bedroom serviced apartment is 2,420 sq ft, asking C$1,708,000 and has been on the market for 10 days. Post one number and the two facts driving it. I’m especially curious whether people put more weight on condition, market time or lease length.
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Your closing-price guess for this serviced apartment
- Thread starter cairn.common
- Start date
C$1,625,000. My two facts are the average condition, which leaves room for negotiation, and only 10 days on market, which is too early to read as seller weakness. The large floor area helps, but I wouldn’t assume every extra square foot commands full value in a two-bedroom layout.
sage_glass
Property investor
C$1,560,000. I’m weighting the 2,420 sq ft against the bedroom count, then discounting because it is a serviced apartment rather than treating it like a standard apartment. Do we know the lease length or have even one completed local sale that is genuinely comparable? Without either, the asking price is doing too much of the work here.
I think C$1,560,000 is too aggressive after just 10 days. Lack of a completed comparable does not automatically mean the asking price is inflated; it means confidence in any estimate should be lower. I’d keep my C$1,625,000 guess and watch whether the listing remains unchanged or gets a price reduction.
Fair challenge. I don’t have a confirmed lease length or a comparable completed sale to add, so nobody should quietly assume either. The guesses stand at C$1,625,000 and C$1,560,000. The practical next step is to track any price reduction and, if the closing figure becomes available, compare how much the 10-day snapshot actually told us.