Comparable sales rarely line up perfectly. Start by separating property type and micro-location, then favor recent arm's-length closings with similar size and layout. Adjust one difference at a time: condition, floor, light, view, outdoor space, monthly carrying cost, building services, and renovation quality.
Build a defensible range, not a single magic number. The lower end should reflect a faster, lower-risk launch; the upper end should require clear evidence that the property is superior. Active listings are competition, not proof of value, and expired listings are evidence that a price failed.
Finally, compare the list-price strategy with the seller's timing and risk tolerance. A price that maximizes showings can create competition; a test-the-market price may require more time and future reductions. The right answer is the one whose assumptions can be explained and updated when real buyer feedback arrives.