The market determines what a house is worth, specifically what similar homes in the surrounding area have sold for (not just listed: SOLD) in recent weeks. An agent reviews current listings, recent sales, and also cancelled or expired (unsold or failed) listings. Data considered includes list price, reduced price, and Days on Market. But at the end of the day, buyers in the market are the ones who ultimately offer what they think the house is worth; if agreeable to the seller, the “market value” is set. We’d be happy to chat about your real estate needs.