How to price your apartment using completed property sales

Pricing is one of the stages where owners can lose money before negotiations even begin. A low asking price may produce a quick sale but a poor financial outcome. An excessive price can leave a listing sitting on the market for months, weaken buyers’ confidence and eventually force a larger reduction than would have been needed at the outset.

The most reliable starting point is what buyers paid for similar apartments in completed transactions. Comparable asking prices show what sellers hope to achieve. Completed sales show prices the market has accepted.

Why asking prices can mislead

Property portals help you understand the competition, but they have an important limitation: you cannot see the final sale price. Some listings are overpriced, some sell after negotiation and some disappear without a sale. If you rely solely on active listings, you may simply be comparing your expectations with those of other owners who are also testing the market.

Completed sale data shows where buyers actually committed their money. This is particularly useful in Vilnius and Kaunas, where neighbourhood, construction period and building quality can produce substantial price differences within a few streets.

Compare the features that define your local segment. Our guides to selling an apartment in Vilnius and selling in Kaunas explain what to check within each city.

Step 1: choose genuinely comparable sales

An apartment is not a useful comparison simply because it is in the same city. Look for properties matching several key criteria: neighbourhood or nearby area, construction period, building type, room count, floor area, floor level, heating and condition. If you are selling a 52 m², two-room apartment in a brick building in Žirmūnai, an 80 m² new-build apartment in Naujamiestis will tell you little. Lithuanian listings generally count living rooms and bedrooms together as rooms.

A practical aim is to find 5–10 transactions similar enough to establish a price range. When evidence is limited, a few well-matched sales are more useful than a large collection of unrelated prices.

Getting data and working without direct access

The Centre of Registers’ transaction price search is not an openly accessible listing table. Its official user guide describes access for registered users with a data supply agreement; access to exact addresses and other identifiers depends on the right to receive them. Before ordering, check eligibility, charges and which fields the service supplies. This article does not reproduce purchased transaction data.

Without access, start a separate table of active listings and label it “asking prices”. Ask a valuer or a professional with lawful access for a completed-sales comparison, agreeing the scope first. Request an explanation of selection, transaction dates, what each price includes and missing information. Public reviews provide context, but an index differs from an individual sale price or valuation. A listing disappearing does not establish that a sale completed.

Step 2: use the median rather than just the average

One unusually expensive or cheap sale can distort an average. The median often gives a better indication of the middle of the market: half the prices fall below it and half above it. This is useful when an area contains different segments, such as older buildings, refurbished apartment blocks and new developments, although you should still separate those segments where possible.

Calculate the price per square metre, but keep the total price in view. Buyers often make decisions around their overall budget, available mortgage and monthly repayments. An apartment can look attractive in €/m² while still exceeding its likely buyers’ budgets.

Step 3: adjust for the differences

Even good comparables are rarely identical, so adjustments matter. A desirable floor level, lift, balcony or terrace, parking, storage, favourable orientation, high-quality renovation, practical layout, well-maintained stairwell, low running costs and good energy performance can support value. Ground- or top-floor positions without compensating advantages, dark rooms, poor views, noise, awkward layouts, neglected communal areas, unclear documents and necessary repairs can weaken it.

Write down specific reasons for your adjustments. Instead of “our apartment is better”, use “ours includes underground parking that the comparable sale did not” or “our bathroom needs renovation, so we cannot apply the full price achieved by a renovated apartment”.

A worked worksheet for an illustrative 52 m² apartment

Every sale and adjustment below is fictional and provided for learning. These are not market prices for Vilnius, Kaunas or any other location, client results or a valuation report. Assume a 52 m² apartment in an older brick building, on an intermediate floor, with a balcony, no separate parking space and ordinary interior condition. A–C are assumed to share its local area and building segment, to have sold within six months and to have prices covering the apartment alone.

The unadjusted A–C prices in order are €2,450, €2,500 and €2,600/m². The median is €2,500/m², giving an initial reference of €130,000 for 52 m². D is excluded because it belongs to another segment, not simply because its price is high. E can return only if its components can be separated reliably. Also assess sales of ownership shares, multiple properties and transactions on different terms separately.

Next, adjust each comparable to the subject apartment’s features. For this example we make an assumption that is not derived from market evidence: B’s better condition accounts for €100/m² and C’s poorer condition for €50/m². A stays at €2,500, B becomes €2,600 − €100 = €2,500, and C becomes €2,450 + €50 = €2,500/m². Adjust a superior comparable downwards and an inferior one upwards. A repair quote is not automatically the premium a buyer will pay; there is no universal percentage table here for balconies or floor levels.

Test how much the result depends on those assumptions. If B’s adjustment were −€50 and C’s +€100/m², the adjusted median would be €2,550/m², or €132,600 for 52 m². If B were −€150 and C had no adjustment, the median would be €2,450/m², or €127,400. €127,400–€132,600 is only a sensitivity range for these assumptions, not a statistical confidence interval or recommended asking price. Real adjustments need comparable evidence; record uncertainty when that evidence is absent.

For each comparable in your own worksheet, record the source and check date, sale date, area, floor area, building type, condition, what the price includes, €/m², inclusion or exclusion reason, evidence for each adjustment and final €/m². Label unknown condition “unknown”, not “similar”. Keep excluded entries and their reasons, then compare your resulting range with today’s competing listings.

Step 4: check the properties currently for sale

Completed sales establish a baseline; current listings show your competition today. If several similar homes offer better photographs, a clearer layout or a better location, buyers will compare yours with them even when historical transaction prices look favourable.

Assess the competition from a buyer’s perspective. Which listing seems most trustworthy? Which provides the clearest information? Which best explains its price? Sometimes the asking price is reasonable, but the listing does not make the case for it.

Step 5: choose your pricing strategy

There is no single correct price independent of your aims. For a quicker sale, you may need to position the property near the middle of its realistic market range or slightly below its closest competitors. If the property has strong advantages and you have time, an upper-end price may be justified. A high price is harder to justify when the property has shortcomings the listing does not explain.

Decide in advance when you will reassess. For example: after 14 days without serious calls, review the photographs and price position; after 30 days with viewings but no offers, review the price or presentation; when an offer approaches your minimum, assess the buyer’s financing and timing. Put these checkpoints into a 30-day sale plan.

Mass appraisal, individual valuation and asking price

The mass appraisal value from Registrų centras, Lithuania’s Centre of Registers, can be a useful reference, but it does not tell you what asking price to choose for your home. It may not reflect the renovation, view, interior quality, value of parking or buyers’ response to the home. It can therefore sit above or below the achievable market price.

An individual valuation is more often needed for a mortgage-funded purchase, an unusual property, inheritance, a gift, divorce or a dispute. It can inform the selling strategy, but even a valuation report cannot replace preparation, a clear listing and negotiation.

For a buyer using a mortgage, consider what happens when the lender’s valuation is below the agreed price. Before accepting an offer, discuss who could cover a shortfall and which agreement terms would apply if financing falls through.

Common pricing mistakes

• Comparing with the most expensive active listings instead of completed sales.
• Overlooking the property’s condition and necessary repairs.
• Giving too much weight to sentimental value that buyers may not share.
• Inflating the price “to leave room for negotiation” until buyers reject the listing altogether.
• Confusing a prestigious neighbourhood with the quality of the particular building and stairwell.
• Failing to review the price when the first market feedback arrives.

How Elevare Homes helps owners

Price cannot be separated from presentation. Poor photographs, clutter and an unclear description can make an apartment appear worth less than it is. Elevare Homes starts by assessing the situation and selling approach: the property’s strengths, what undermines its appeal, what can be improved before photography and how the listing can explain the price.

The STANDARD service gives owners professional preparation for the photo shoot, photographs, a floor plan, listing copy and guidance through the selling process. The PREMIUM service adds a property expert’s help with buyer communication, viewings, negotiations and document preparation. Together, evidence and presentation give buyers a clearer reason to take the price seriously.

Useful sources

• Centre of Registers: transaction price search
• Centre of Registers: property mass appraisal values
• Centre of Registers: individual property valuation
• Bank of Lithuania: Financial Stability Review 2026

Frequently asked questions