The Three Pricing Mistakes I See Kelowna Sellers Make Every Spring

Spring is the busiest selling season in the Okanagan — and it's also the season where I watch sellers make the same three pricing mistakes year after year.

If you're planning to list between now and July, read this before you pick a number.

Mistake #1: Pricing based on last year's sale next door

The market you're selling into today is not the same market the neighbour sold into in June 2025. I see this constantly: "The Johnson's place went for $1.3M, so mine should be $1.35M."

Rates have shifted. Inventory has shifted. Buyer sentiment has shifted. The comp is a data point, not a verdict.

A real pricing conversation looks at:

• Sales in the last 60 days, not the last 12 months
• Homes currently active in your price range (those are your competition)
• What's expired or been relisted — often the most useful data of all

Mistake #2: Pricing aspirationally and planning to adjust

There's a version of this conversation that goes: "Let's try $1.5M, and if nothing happens in three weeks we'll come down."

Here's what actually happens when you price above market:

1. The first two weeks are your best two weeks. That's when your listing is fresh and every buyer agent in town is watching new inventory.
2. You burn that window at the wrong price.
3. When you adjust, you've already lost momentum. Buyers see the price drop and assume something is wrong.
4. You eventually sell — often for less than you'd have gotten pricing correctly on day one.

The data on this is remarkably consistent. Properly-priced listings in the Central Okanagan sell for 98-101% of ask. Aspirationally-priced listings that adjust downward sell for 92-95% of the original ask.

Mistake #3: Ignoring the psychological price points

$999,900 feels fundamentally different from $1,000,000 to a buyer, even though the difference is meaningless. Same with $1,499,000 vs $1,500,000.

This isn't manipulation — it's search filters. Buyers set their Realtor.ca max at round numbers. If your home is priced at $1,510,000, you've just removed yourself from every search capped at $1.5M.

Know where the search breakpoints are for your price range, and price deliberately in relation to them.

Scott's take

Price is the single most important marketing decision you'll make as a seller. Photography, staging, and timing all matter — but none of them can rescue a wrong number.

If you're thinking of listing this spring, the most valuable thing I can do for you is run a real pricing analysis before you commit. That's a free call.

— Scott