Asking price is defined as the amount of money that seller wants the buyer to pay for the property. That’s the price that’s presented on the listing. It’s determined by various factors, such as location, age, property condition, and local market conditions. The asking price is rarely the final price. Prospective homebuyers will present the bid price that the homeowner can accept, reject, or give a counteroffer. This round of negotiations may go through several stages until the final price is agreed upon. The final price may also be different from the average price of properties in real estate market statistics.