What is the difference between a list price and sale price?

Summary: A list price is the advertised price you list your house for when you put it on the market. A sale price is a final price you actually sell your house for.

 

List It

The list price is the price you list your house for when you put it on the market. This price can change during the listing if you decide to lower or raise the price before it sells. It would be wise to look at other similar properties on the market to help you understand your competition. You don’t want to assume that a list price reflects the real value of a neighbor’s house, though. A list price can be a valuable tool when pricing your home, especially if you look at recent sales in your area and compare their initial listing price with their final sale prices. It is a rough estimate of what the seller wants to complete a home sale.

 

Sell It

The final sale price is the price of what your house actually sells for. The final sale price of similar properties in your neighborhood that were sold within the last six months is an indication of your home’s current value. The price of a recent comparables shows what a ready and willing buyer paid for a similar property. This is how an appraiser typically estimates property values of single-family homes. Real estate consumers and professionals often use the terms selling price and list price interchangeably. Yet, the term selling price can also refer to the price you actually get from a buyer.


Definition According to Merriam Webster

List Price (n): the basic price of an item as published in a catalog, price list, or advertisement before any discounts are taken

 

Definition According to Cambridge

Sale Price (n): the price that is paid by the buyer at the time when something is sold

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