List price
The price the seller advertises the home for. It is a starting point for negotiation, and the final sale price can be above or below it.
Also called: asking price, listing price
Related terms
The price a home actually sells for at closing. It can differ from the list price and becomes public record in most states.
A cut to the list price after the home has been on the market. It usually signals the home was priced above what buyers would pay.
An agent's estimate of a home's likely sale price based on recent nearby sales and current listings. It guides list prices and offers but is not an appraisal.
A buyer's written proposal to buy a property at a stated price and terms. It becomes a binding contract only when the seller accepts it as written and both sides sign.
The price divided by the home's finished living area. It is a quick way to compare homes, but condition, lot, and location can make it misleading on its own.