WHAT IS THE DIFFERENCE BETWEEN THE SELLING AND ASKING PRICE ?

Asked by Michael Anthony, Charlotte, NC Fri Jan 7, 2011

Help the community by answering this question:

+ web reference
Web reference:

Answers

8
John Siddons…, Agent, Charlotte, NC
Mon Jun 27, 2011
Asking price is what the seller WANTS, selling price is what the seller GETS.
1 vote
BOOM!!! Nice answer thanks!!! :)
Flag Mon Apr 3, 2017
Kathleen Tur…, Agent, Charlotte, NC
Mon Jan 24, 2011
One of the stats that we do have available to us is percentage of list price to asking price. In other words, we can see by what percentage point are houses selling compared to what the list price was at the time of the sale. For example, if a house was listed at $100,000, but sold for $98,000, its LP/SP % would be 98%. These stats are somewhat helpful to buyers when gaging what to offer on a particular property. One can pretty well bet that if homes are selling in a neighborhood for 98% of list (asking) price, an offer that would be at 80% of list probably won't fly with the sellers.

However, like all statistics, LP/SP doesn't always paint an accurate picture. If that same $100,000 house sold for 98,000 but included $2000 in seller paid closing costs, the true LP/SP is 96%, not the 98% listed in mls stats. Also LP/SP does not take into consideration price reductions. The LP/SP is only calculated on the list price on the day that the house is sold, and not on the original asking price - the price the house was listing for on day one.

Best success, Kathleen Turner http://www.twitter/KathleenHomes
1 vote
Terry Kennedy, Agent, Elkin, NC
Mon Jun 27, 2011
The asking price is the "list price" and the market price is in most cases what the property sells for as stated here so well by many others. The only thing I would add is the old adage; location, location, location. Some areas will and have held their values much better than others in this current real estate market and a good local real estate broker should know where the best areas are and where the best buys are. There are some good buys out there right now in "my opinion"; so find a good agent, do your homework and don't be afraid to make an offer. All the Seller can say is yes or no, or make you a counter offer. Best of luck.
0 votes
Maggie Hawk, Agent, New Smyrna Beach, FL
Fri Jan 7, 2011
Michael,
If you're looking to find out the average percentage difference between what people are asking and what their property is actually selling for, perhaps one of the members of this Forum from your area could provide you with some MLS statistics. Good luck in your property search.

Warm regards,
Maggie Hawk, REALTOR
Watson Realty Corp.
0 votes
Maureen Cody, , Charleston, SC
Fri Jan 7, 2011
Dear Michael

To add to the great responses you have already received, the selling price is that price that tells the story in the real estate market.

Ex: A homeowner might learn of the asking price of a home in his neighborhood and think that his home must be 'worth that amount' also. But what a homeowner needs to research is the history of SALES in the neighborhood which will paint a more accurate picture of the home values. Most homeowners don't do this, and often will want to price their home higher than their Realtor advises, based on emotional attachment instead of market facts.

As a buyer, your Realtor can do a market analysis prior to submitting your offer to purchase a home. That market analysis will determine if the asking price is reasonable or way too high. Together, with your Realtor, you can come up with an asking price.

I hope this helps.

Best Regards,
Maureen
0 votes
Anna M Brocco, Agent, Williston Park, NY
Fri Jan 7, 2011
Asking price or market value is the list price, selling price or market price, is what the property actually sold for.
0 votes
Dan Tabit, Agent, Issaquah, WA
Fri Jan 7, 2011
Michael,
To the buyer, the selling price is too high and the asking price is way too high. To the buyer it's the opposite.
Tim hit it on the head, asking is what they hope to get, selling is what they got.
0 votes
Tim Moore, Agent, Kitty Hawk, NC
Fri Jan 7, 2011
Selling price is also called the SOLD price and it is what the house actually sold for. The asking price is also called the list price and it is what the seller is asking the buyer to pay for it.
0 votes
Search Advice
Search
Ask our community a question

Email me when…

Learn more