By Daniel Kaufman

We’ve all seen the headlines — “Home listed for $1!” It grabs your attention. It’s bold. And no, it’s not a typo. But let’s be clear: these homes aren’t selling for a dollar. Still, the tactic is real, and it’s gaining traction in today’s market — not as a gimmick, but as a calculated strategy.

As a developer and investor, I’ve seen a lot of creative pricing approaches over the years, but this one’s different. In a market where inventory is tight and interest rates are keeping some buyers on the sidelines, the $1 listing model is drawing energy back into the transaction. It’s flipping the traditional negotiation on its head — instead of pricing high and waiting for someone to bite, sellers are starting at zero and letting the market come to them.

$1 Listings, Six-Figure Outcomes

Recently, a three-bedroom, 1.5-bathroom home in the New York-Newark-Jersey City metro area hit the market for $1. It closed for $550,000. That’s below the region’s median list price of $786,500, but perfectly in line with comps nearby. Just down the street, another home is listed for $479,000, and a multifamily up the block is asking $519,000.

Offers for that $1 listing came in fast — and wildly varied. Everything from $1 (of course) to $550,000. There was so much activity the agent’s team had to review comps with buyers on the phone just to keep up.

And that’s the point. It pulled in interest across the board — first-timers, investors, families who might’ve otherwise assumed the house was out of reach. The result? A deal that landed right where the market said it should.

Why It Works

The $1 tactic isn’t about deception — it’s about widening the funnel. List price isn’t a promise. It’s a starting point. Whether you price high or low, the market will sort it out. If you price too high, buyers ignore it. If you price low, you bring them to the table. And right now, in a high-rate environment with cautious buyers, that’s a smart play.

It’s also more democratic. It gives everyone a shot, no matter their budget or financing constraints. One agent put it best:

“What I like about this strategy is that it doesn’t discriminate. It gives people time to think, visit the property, and make a real offer — not rush into a bidding war with a 24-hour clock ticking over their heads.”

Compare that to the pressure of “highest and best due tomorrow at 6 p.m.” and you can see why it’s resonating.

Not Just Fixers and Foreclosures

This strategy isn’t just for beat-up homes or distressed sales. In fact, some $1 listings are beautifully maintained properties in competitive neighborhoods. One current example? A five-bedroom, two-bath estate in Manville, New Jersey — also listed at $1. The median list price in that part of the state is around $579,450, and homes are spending a median of 37 days on market. The $1 strategy is clearly designed to cut that timeline and bring attention to the property fast.

In Colts Neck, NJ, and even Indiana lakefront communities, similar $1 listings are popping up — many with high-end finishes and desirable locations.

Final Thoughts

At the end of the day, the list price is just a suggestion. The market sets the number. Always has. Always will.

And in a time when affordability is top of mind, this approach offers something rare: flexibility. For sellers, it’s a smart way to drive activity. For buyers, it’s a chance to participate — to make an offer that works for them.

So no, these homes won’t close for $1. But the way they’re priced might just be what gets them sold.