The transaction price is the actual price agreed and paid for a property in a completed sale — the figure the parties settle on, as opposed to the advertised asking price or an estimated market value.
Where you’ll see it
You’ll see transaction prices in completed-sale records and market data. Recorded transaction prices are valuable evidence of what properties actually sell for, feeding into valuations and price-per-square-foot comparisons.
Why it matters
Asking prices reflect hopes; transaction prices reflect reality. Looking at what comparable properties actually sold for gives buyers and sellers a far better guide to fair value than headline listings.
What it is not
The transaction price is not the asking price and not necessarily the market value — a particular deal can complete above or below the broad market estimate depending on circumstances.
Example
A property listed at one figure sells for less after negotiation; the lower figure is the transaction price, and it becomes a data point for valuing similar units.
Connected documents and parties
Sale agreement, transfer record; buyer, seller, DLD.
Going deeper: related reading: market value.
Related Terms
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