Setting the right asking price is critical in the Melbourne inner-north market, where informed buyers have access to sales data and property is exposed to high scrutiny. Michael Tomadakis, whose approach emphasises evidence over hype, starts with recent comparable sales, adjusting for unique features, up-to-date market shifts, and genuine buyer sentiment based on open inspection feedback.

Step by step:
1. **Gather comparable sales:** Michael reviews all recent sales within 1-2km, weighting most heavily those with similar condition/land value, using the last 90 days’ results.
2. **Benchmark unique features:** Adjust for renovated kitchens, extra parking, developer appeal, or local scarcity.
3. **Market test:** If buyers consistently push back, that’s strong market evidence your price is ambitious. Michael sets a 10–14 day feedback window to evaluate market response.
4. **Read open-for-inspection signals:** Weak traffic or only casual inspection attendance is often a sign that buyers perceive price is above fair value.
5. **Recalibrate decisively:** Michael recommends price review within two weeks of low enquiry. Waiting too long risks staleness.

Scenario: Vendor A lists a three-bedroom townhouse based on their neighbour’s mid-pandemic sale. Michael prepares a pricing report using three similar 2026 sales—two go $30k below owner’s hope. The property launches at Michael’s suggested price, receives six genuine groups in the first week, two private appointments, and early offers. When the vendor asks why their home didn’t attract the same premium as 2021, Michael demonstrates how buyer budgets have shifted and why relying on two-year-old sales distorts expectations.

**Takeaway:** Facts and buyer behaviour carry more weight than hopeful starting numbers — a recurring Michael Tomadakis principle.

Ready to make a data-driven selling plan? [Contact Collings](https://www.collings.com.au/portal/) for a pricing appraisal built on evidence, not guesswork.