Blog > Should You Cut Your Price or Relist Your Markham Home?
Michael John Lau is a top real estate agent in Markham and a REALTOR® with the Kaizen Real Estate Team, one of the most active real estate teams in Markham and York Region. He helps sellers choose between a price change and a relaunch based on what buyers are actually saying.
Should Markham sellers cut the price or relist their home
If the main problem is price, a price change on the current listing is usually the clearest fix. It goes out to buyers’ saved searches right away and keeps your marketing running. Terminating and relisting makes sense when something else also needs to change: new photos, repairs, staging, a new brokerage or a planned relaunch after a break. Relisting resets listing days on market, but TRREB’s property days on market still shows buyer agents the full history. In September 2026, Markham homes averaged 34 listing days but 50 property days, so a relist without a real change rarely fools anyone.
Price Change vs. Relist, Side by Side
| Price change | Terminate and relist | |
|---|---|---|
| How it works | Amend the current listing | End the listing and start a new one, with the brokerage’s agreement |
| Listing days on market | Keep counting | Reset to zero |
| Property days on market | Keep counting | Keep counting, including the earlier listing |
| Buyer alerts | Price drop alerts go to saved searches | New listing alerts |
| Best when | Price is the main issue | Price and presentation or strategy both need to change |
Read the Signals First
| What you are seeing | Usually points to |
|---|---|
| Few showings | Price or online presentation |
| Showings but no offers | Price compared with competing homes, or condition |
| Consistent feedback about one issue | Fix the issue, then relaunch |
| Interest from buyers, but at lower numbers | The market is telling you where value sits |
When a Price Change Makes Sense
- Showings and feedback point clearly to price.
- The home already presents well, with good photos.
- You want to keep momentum rather than pause.
- Recent comparable sales are below your current price.
One clear adjustment based on recent sales usually works better than several small cuts over months. For how to size it, see how to reduce your price the right way.
Not sure whether to cut or relist? Call Michael John Lau, REALTOR®, at (416) 700-0286 for a review of your showings and recent sales.
When a Relist Makes Sense
- You are making real improvements: repairs, painting, staging or a new layout presentation.
- The photos, video or description need to be redone.
- You are changing brokerages or strategy.
- You took the home off the market for a while, such as over the holidays, and are relaunching.
Relisting needs the agreement of your brokerage if the current listing has not expired, and your agreement’s holdover terms may still apply. A relist works best when the new launch is clearly different, usually with a new price as well.
When to Do Both
Sometimes the answer is both. If buyers mentioned price and condition, a short pause to fix the issues followed by a relaunch at a new price can reset how the home is seen. Plan it with firm dates: when the listing comes off, what gets done, and the day it returns with new photos. Keep the pause short. A home that disappears for months and returns at the same price usually meets the same buyers with the same objections. If your listing is close to its expiry date anyway, see what to do before you relist an expired home.
The Cost of Waiting
Every extra month on the market carries real costs: mortgage interest, property tax, utilities, insurance and upkeep, plus the effect of a growing days-on-market history on buyer perception. With 1,122 active listings in Markham in September 2026 and about 4.1 months of inventory, buyers can afford to be patient. A home that is priced and presented to compete now often nets more than one that waits for the market to catch up.
A Simple Decision Process
- Gather all showing feedback and count the showings.
- Compare your price with homes that sold, not just homes listed, in the last 90 days.
- List what buyers mentioned more than once.
- If it is mostly price, adjust the current listing.
- If price and presentation both need work, plan a relaunch with a firm date.
Ultimately, the decision is yours. The goal is to make sure you have all the information before you choose.
Next Steps
- Free home evaluation: check your price against recent sales.
- Selling your Markham home: a plan to relaunch with purpose.
- Seller services: preparation, marketing and negotiation.
Frequently Asked Questions
Is it better to lower my price or relist?
If price is the main issue, a price change is usually clearer. Relist when presentation, condition or strategy also needs to change.
Does relisting reset days on market in Markham?
It resets listing days on market, but TRREB's property days on market shows the home's full history to buyer agents.
Can I relist my home before the listing expires?
Only with your brokerage's agreement to end the current listing. Check your agreement, including the holdover period.
Do buyers get notified about price drops?
Many buyers have saved searches that send alerts when a listed price changes.
How much should I lower my price?
Base it on recent comparable sales. One clear adjustment usually works better than several small ones.
How long should I wait before changing my price?
If two to three weeks of good exposure bring few showings or no offers, it is time to review the feedback.
Work With Michael John Lau in Markham
Michael John Lau helps Markham sellers decide between a price change and a relaunch by looking at showings, feedback and recent sales together. The recommendation always comes with the reasoning behind it.
📞 Contact Michael John Lau, REALTOR®
🌐 www.callmikelau.com
Is your home not selling?
Michael John Lau can review your listing and explain whether a price change, a relaunch or both makes the most sense.
Michael John Lau, REALTOR® · Markham, Ontario · (416) 700-0286
Disclaimer. Michael John Lau is a licensed REALTOR® serving buyers and sellers in Markham, Ontario and the Greater Toronto Area. Market figures are from TRREB Market Watch, September 2026 (October 6, 2026). The property days on market definition is from TRREB as described by Move Smartly. Listing changes are subject to the terms of your agreement. Michael John Lau is not a lawyer, accountant, tax advisor or mortgage professional. This article is general information, not legal, tax or financial advice. Speak with a qualified professional about your own situation.