What Does List Price (Asking Price) Mean? | Real Estate Definition

By December 15, 2011 TERM
What Does List Price Mean? - Real Estate Definition

 

What Does List Price Mean?

List price is the amount of money that a seller is asking for their home (also known as asking price).

Real Estate Agent Explains List Price

Asking prices or list prices are frequently negotiable. Even though a home may appear overpriced, bear in mind that that price may not be the final selling price of the home. It can be advantageous to factor in this information when shopping for a home and setting price limits for search criteria.

Why Does It Matter?

List price is an expectation based on the market conditions. Even though the list price is not usually equal to the selling price, it is still important to note the amount people expect to get for their homes when they sell. The buyer willingness will tell us what the difference will be between a list price and selling price. List price is also necessary in calculating the difference between listing and selling prices – a very significant factor in determining market demand. The closer a buyer will pay to list price, the hotter the market is. (For more information on how list prices are estimated, see What is Your Home Worth?)


by +Alan F Macdonald REALTOR® | Copyright © – gimme-shelter.com

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Alan F Macdonald

Author Alan F Macdonald

Alan F Macdonald is a real estate agent with Maxwell Challenge Realty in Edmonton, Alberta.

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