Asking price vs sold price
The asking price is the figure on the listing. The sold price is what the buyer actually paid. They are often different, sometimes by a lot, and mixing them up is one of the most common mistakes people make when looking at house prices.
This guide explains where each figure comes from, why they differ and how to use them together when you are buying or selling.
Where asking prices come from
An asking price is set by the seller, usually on the advice of an estate agent. It appears on the listing and on property portals when the home goes on the market.
It is a starting point for negotiation, not a record of value. Agents may pitch it high to win the instruction, or low to draw in several buyers. Wording matters too. "Offers over" invites bids above the figure. "Offers in the region of" and "guide price" suggest some room either side.
Asking prices can also change while a home is on the market. A home that is reduced once or twice is a sign the first figure was too high.
Where sold prices come from
In England and Wales, a sold price is recorded by HM Land Registry when the sale is registered after completion. It is published in the Price Paid Data each month, along with the date of the sale, the address, the property type, the tenure and whether the home was a new build.
This is the price that was actually paid. It reflects everything that happened after the listing went up: offers, counter offers, renegotiation after a survey, and any reduction.
Sold prices take time to appear. Registration usually happens two to eight weeks after completion, and completion itself often comes months after the home was first listed. Why sold prices take months to appear explains the timing.
Checklist
- Treat the asking price as the start of a negotiation
- Note the wording: offers over, guide price, offers in the region of
- Check how long the home has been listed and any reductions
- Find recent sold prices for similar homes nearby
- Match property type and tenure
- Allow for market movement since the comparables sold
Why they differ
In a busy market with more buyers than homes, sold prices can come in above the asking price, especially where several buyers bid for the same home. In a slow market, buyers have more choice and sold prices often come in below.
Other common reasons for a gap include a survey that finds problems, a buyer who needs to move quickly or a seller who does, a mortgage valuation that comes in lower than the agreed price, and asking prices that were set too high from the start.
The two figures also describe different moments. An asking price reflects the market when the home was listed. A sold price is fixed when the deal is agreed, but only becomes public weeks or months later.
Asking price figures and sold price figures
Some published house price figures are based on asking prices of homes newly put on the market. Others, including the UK House Price Index and House Price Monitor, are based on completed sales registered with Land Registry.
Asking price figures appear sooner and can hint at where sellers think the market is heading. Sold price figures are slower but show what buyers actually paid. When two reports seem to disagree, check which kind of price each one uses.
How to compare them
Use sold prices to judge whether an asking price is realistic. Find recent sales of similar homes nearby, of the same type and tenure, and see how the asking price compares. How to estimate your home's value from sold prices walks through picking comparable sales.
As an illustrative example with round numbers: a semi-detached house is listed at £350,000. Three similar semis on nearby streets sold in the past year for £320,000, £330,000 and £335,000. That suggests the asking price is ambitious, and a buyer might start lower. These numbers are made up to show the method.
If you can, find the old listing for a home that has since sold and compare its last asking price with its sold price. Over several sales in the same area, that shows you how far asking prices tend to sit from final prices locally.
Remember that sold prices look back. If the market has moved since the comparables sold, allow for that. Comparing the median over time helps, as shown in working out house price change.
Prices for your postcode
House Price Monitor uses sold prices only, never asking prices. The postcode district and street pages are free to read: start from the postcode list.
The full monthly report for a postcode district lists every sale and costs £4.99 a month, with the first report free on sign-up. See pricing. Estate agents and brokers who price homes for clients can use the professional plan.
Other guides
How to estimate your home's value from sold prices
How to find what a house sold for
Why sold prices take months to appear
How to work out how much house prices have changed