Listing Price
The asking price at which a property is offered for sale. Listings set the competitive ceiling for the subject — a buyer will not pay more for the subject than the asking price of an equivalent active listing — but they are aspirations, not evidence of closed value.
Related Terms
Pending Sale
A property under contract that has not yet closed.
Market Value
The most probable price that a property should bring in a competitive and open market under all conditions requisite to a fair sale, with the buyer and seller each acting prudently and knowledgeably, and assuming the price is not affected by undue stimulus..
Principle of Substitution
The principle that a prudent buyer will pay no more for a property than the cost of acquiring an equally desirable substitute.
More in Market Analysis
View allMarket Conditions
The current state of supply and demand in the real estate market for a particular property type in a defined area.
Absorption Rate
The rate at which available properties are sold or leased in a specific market during a given time period.
Days on Market (DOM)
DOMThe number of days between when a property is listed for sale and when it goes under contract.
Months of Supply
The estimated time it would take to sell all current listings at the current sales pace, calculated by dividing active inventory by the average monthly sales rate.