What is the term for the price at which a property is listed for sale?

The term for the price at which a property is listed for sale is the list price. This figure is significant in real estate because it represents the seller's expectations and objectives regarding the property's market value. A well-researched list price helps attract potential buyers and encourages competitive offers, while an improperly set list price can lead to prolonged market time and missed opportunities.

In contrast, a Comparative Market Analysis (CMA) involves assessing similar recently sold properties to derive a reasonable list price but is not the price itself. A Broker's Price Opinion (BPO) is an estimation of a property's value prepared by a real estate professional, which differs from the list price that the seller decides on when entering the market. Value-in-use refers to the value of a property based on its current condition and the benefits it provides to a specific user, which also does not equate to the list price set by the seller. Understanding the concept of list price is essential for both sellers aiming to sell their property effectively and buyers looking to make informed offers.