The list price, also called the asking price, is the amount a seller advertises a home for on the open market. It is set by the seller with guidance from their agent, usually informed by a comparative market analysis of similar recent sales.
The list price is a starting point, not a final figure. Depending on market conditions, homes may sell above, at, or below list. In a strong seller's market, competition can push the sale price well over asking, while in a slower market sellers often accept less or make price reductions.
Strategic pricing matters. Pricing too high can leave a home sitting and accumulating days on market, while pricing at or slightly below value can attract multiple offers and drive the final price up.