The asking price is the initial value at which a property is listed for sale. It is entirely at the seller’s discretion, which means it does not always align with the market priceThe market price (precio de mercado) is a recommended sale price for a property, based on supply and demand in the area, the individual characteristics of the property, the current market conditions, ... More or the final sale price.
If the asking price is set too high, there is a strong chance the property will languish on property portals, which may later result in the need for price reductions. However, multiple price drops can be counterproductive, as properties with several reductions often appear less appealing to potential buyers.
Setting an asking price in line with, or even slightly below market value usually generates greater interest and, if the market is active, can attract multiple offers. To avoid unpleasant surprises, it’s always recommended to get a professional valuation and follow the advice of an experienced estate agency.
