What is a "listing price"?

A listing price refers to the price at which a property is officially offered for sale by the seller. This price is typically determined by the seller in consultation with a real estate agent, taking into account various factors such as market conditions, property features, and comparable sales in the neighborhood.

In this context, the listing price serves as the starting point for negotiations between the seller and potential buyers. It sets the expectations for both parties regarding the value of the property. When a property is listed at a certain price, it can attract interest and offers from buyers, who may propose different amounts during negotiations, depending on their perception of the property's worth and their own budget.

Other options, while related to pricing strategies in real estate, do not accurately define the listing price. For instance, the price a buyer offers is a separate transaction element and may differ significantly from the listing price. Similarly, the lowest price a seller is willing to accept is known as the "bottom line" and is often less than the listing price. The average price of similar properties, on the other hand, can be a factor influencing the listing price but does not define it directly.