"In the world of real estate, you'll often hear terms like "list price" and "sell price." While they might sound similar, they tell very different stories about a home's status on the market. Understanding the distinction between these two is important to making informed decisions, whether you're buying or selling. In this Redfin real estate article, we will help you understand list price vs sell price so you have the knowledge to help you sell your home faster."
"This price is usually determined by a combination of factors, including: Market conditions: What are similar homes in the area selling for? Is it a buyer's or seller's market? Home features: The size, age, condition, and amenities of the property all play a role. Seller's goals: How quickly does the seller need to move? Are they hoping to maximize profit or prioritize a fast sale?"
"What is the sell price? The sell price, also known as the sale price or closing price, is the final amount a buyer actually pays for a home. This is the price recorded on the official sales contract once the deal is closed. The sell price can be higher or lower than the list price, and it's the result of negotiations between the buyer and seller."
List price is the initial asking price set by a seller and agent, based on market conditions, home features, and seller goals. It functions as a strategic starting point to attract buyers. Sell price, also called sale or closing price, is the final amount a buyer pays and is recorded on the sales contract. Negotiation, buyer demand, and market competitiveness influence the sell price; hot markets with multiple offers can push sell prices above list price, while weak demand or negotiation can lower them. Understanding both prices helps set expectations for pricing strategy and anticipated sale outcomes.
Read at Redfin | Real Estate Tips for Home Buying, Selling & More
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