Why does the predicted price differ from the asking price?

The asking price is set by the seller (or their agent) and reflects their expectations, negotiating strategy, and sometimes emotional attachment to the property. It is not necessarily what the market will pay.

Side Street's predicted price is based entirely on what comparable properties have actually sold for — analyzing historical transactions, property features, location, and current market conditions in that neighbourhood. It represents what the model estimates a buyer will realistically pay, independent of what the seller is asking.

A predicted price below the asking price may indicate the property is overpriced relative to comparable sales. A predicted price above the asking price may suggest the listing is competitively priced or undervalued.

Neither case is a guaranteed outcome. Real estate transactions are influenced by factors the model cannot fully capture — buyer competition, financing conditions, timing, and negotiation. The predicted price is a data-driven reference point, not a valuation or appraisal, and should be used alongside your own research and professional advice.