What is the list price in real estate?

The list price in real estate refers to the price that the owner has officially offered to sell a property for. This is the amount that is advertised to potential buyers and is often determined by various factors including the property's value, market conditions, and the seller's motivation. Setting a list price is a critical step in the selling process, as it establishes a starting point for negotiations and conveys the seller's expectations.

In contrast, the amount a buyer is willing to pay is not fixed and can vary from buyer to buyer, depending on individual circumstances and perceived value of the property. The projected market value, while it can guide the determination of the list price, is based on analysis and not a direct offer by the seller. Lastly, the lowest price at which a property can be sold typically relates to the seller's bottom line during negotiation rather than the formal list price itself.