Why Some Homes Sell and Others Sit

How big is the gap?

Our sales team recently sat in a training session with one of Queensland's most awarded auctioneers, a trainer who works with agencies right around the country. Price was the big topic.

His read on the market: sellers are listing their homes about 10.8% higher than where they end up selling. Buyers are opening about 11.2% lower than where they need to be. Put the two together and they're starting around 20% apart.

Say a home ends up selling for $700,000. It was probably listed at around $775,000, and the first offer was probably around $620,000. That's about $155,000 apart on day one. It's a lot of ground to make up, but it gets made up every week when the price chat is honest and the plan is clear.

It's happening down south too. Sydney auctioneer and trainer Tom Panos recently shared a Saturday where two of his three auctions were withdrawn. The one that went ahead had three or four people bidding and reached nearly $2.5 million. The owner still said no. They were only around $60,000 to $70,000 short of their number. In Tom's words, "it takes a brave vendor to say no".

Brave is one word for it. Three or four buyers bidding against each other is about as clear a picture of what a home is worth on the day as you'll get, and with more homes coming onto the market, there's no guarantee the next round of buyers will go higher. Sometimes the hardest part of selling is hearing what the market is telling you. Whether to accept is always the owner's call. Our job is to make sure that call is made with every fact on the table: who's interested, where they're at, and every offer presented to you as it comes in.

Right now, the national numbers tell the same story

Domain's research shows the same thing from the buyer's side. What buyers are searching for still sits well below what sellers are asking, especially for houses (Domain).

The good news is that Toowoomba has held up better than most. Home values here are still up about 11% on a year ago (Cotality). But buyers here are comparing more carefully too, so getting the price right matters just as much.

Why are you and the buyer so far apart?

If you're selling, your number probably came from somewhere sensible. Maybe it's what the place down the road sold for, an online estimate, or what you need for your next move.

Buyers are working from somewhere sensible too. They have more homes to choose from than a year ago, many can borrow less than they could at the start of the year, and nobody wants to be the one who paid too much.

So neither of you is wrong. You're looking back at what homes were selling for. Buyers are looking around at what they can buy today. The catch is that a home sells at the number a buyer will actually pay, so that's the one that counts.

Why timing matters so much

A sale happens when you and a buyer land on the same price at the same time. Most sellers we talk to already know the market has shifted. The tricky part is having your price ready when the right buyer turns up.

Buyers don't wait. If someone likes your home but the price is out of reach, they keep looking. If they find something else, they're gone, and they rarely come back when the price drops later. That's why we put the work in on price and presentation before your home goes online, so you're ready when they are.

What happens if your price misses the mark?

Usually nothing dramatic. It's more of a slow fizzle. The first few weeks, when the most buyers are looking, go by without the right offer. Buyers who walk through compare your home with others, and it can end up making a better-priced home nearby look like the bargain. After a while, buyers stop asking "what's it worth?" and start asking "why hasn't it sold?"

The good news is it can be turned around. Most of the time that means bringing the price closer to where buyers are. It's not an easy call to make, which is why we'll put the evidence in front of you so you can see exactly why. Waiting on its own rarely closes the gap, but acting on what buyers are telling you does.

How you'll know if buyers aren't biting

This was a big part of our training, and the message was simple. The signs show up early if you know where to look.

Before a buyer makes an offer, they usually see your home online, get in touch, come to an inspection, then come back for a second look. Your agent should be telling you how many people are doing each of these, and where they're dropping off.

Lots of people looking online but not many calling? Plenty through the open home but nobody coming back for a second look? Quiet open homes a few weeks in a row, with price coming up in the feedback? Those are all buyers telling you the same thing: at this price, they're not ready to buy.

One quiet Saturday on its own isn't a verdict. Weather, school holidays and other open homes nearby all play a part (more on that in Open Homes Explained). It's the pattern over a few weeks that counts. If the signs are there, we'll tell you early, show you exactly what we're seeing, and talk you through your options.

What a good price chat looks like

Whoever you're talking to about selling, here's what you should expect.

Evidence in real time, as it happens. Before you list, that means recent sales and what's for sale right now, because that's what buyers are comparing you with. We explain both in Comparable Sales Explained and Market Value Explained. Once you're on the market, it means real updates: how many enquiries, how many through the door, and what buyers actually did. "A buyer offered $X" tells you far more than "buyers feel it's a bit high".

Honesty before you launch. If your agent thinks your price is too high, you want to hear it before your home goes online, not three weeks in. It's not a fun chat, but it costs a lot less than having it later.

More than just the price. The deposit, the settlement date and any conditions can all help close a gap. A buyer who can't move on price might be able to move on timing, and sometimes that's what gets everyone over the line.

A few of our recent sales started with exactly these chats. In one, the owners weren't keen on the offer at first, and it took some honest back and forth to get it done. Two others settled above what their owners were expecting.

Questions sellers ask about the price gap

The gap is real, but homes are still selling across Toowoomba every week. The ones that sell well usually start with an honest number and a clear plan, and that's what we bring to every sale. If you'd like to know where your home sits today, we'll show you the sales and listings we'd compare it with, and you can make up your own mind. Request a free property appraisal.

Want to know the next steps?

As our Sales Director, Annette Neil can connect you with the right agent or investor services support from the start.

Talk to Annette

General information only and current as at October 2026. This isn't financial or legal advice. For advice specific to your situation, please speak with a qualified professional.