sales price


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Price

The value of a thing with real or perceived worth. Price represents the amount of value the market has assigned, fairly or unfairly, to a good or service. Normally, prices are expressed in terms of money, but practices such as countertrade and PIK securities indicate that prices may be expressed in goods: "four chickens for two sheep." Price is a necessary component of trade.

Prices tend to be regulated by the law of supply and demand; that is, a price of a good or service increases with smaller supply and/or greater demand. A corollary to this is the idea that commoditization drives prices down because it increases supply (sometimes vastly) while leaving demand the same. Prices likewise rise when the value of money declines. Governments can and have controlled the prices of certain goods and services by subsidy or decree. This is usually an anti-inflationary measure and tends to distort, rather than eliminate, the law of supply and demand. It is thus not generally sustainable as a mechanism for controlling price.

sales price

The contractually agreed upon price for real estate.

References in periodicals archive ?
Home sales prices continued to rise in New York State in May, while the inventory of homes for sale also inched upwards for the sixth consecutive month, according to the housing market report released by the New York State Association of Realtors
In Monroe County for communities with at least 25 closed sales, Henrietta saw the highest year-over-year rise in median sales price, up 10.3 percent to $161,000 on 76 closed sales.
* Vermont had the lowest increase in average sales price of all New England states, 3.25 percent.
"If distressed sales are eliminated from the February results, total sales activity rose 5.1 percent, while the median sales price gained 3 percent, indicating that the housing market is continuing to improve at a sustainable pace," said LaGrange.
In Portland, for example, the average sales price last year rose 8.5 percent from 2016, reaching $428,700, according to RMLS.
Though some lawmakers expressed confusion at the insertion of the provision, there was little public debate over it or the impact it could have on future proposals to require sales price disclosure.
Attached sales increased 22 percent in the third quarter to 140 units, and the median sales price came in at $1,356,562, compared to $1,390,000 a year earlier.
While the second-quarter co-op median sales price was $700,000-up 40 basis points from $697,501 in the second quarter of 2010-the condominium median sales price fell 2.7 percent to $1.07 million from $1.1 million in the same quarter last year.
Whatcom County: Median sales price: $242,200, down 6.5 percent.
Fayetteville ranked as the state's most expensive market with an average sales price of $248,012.
Has a definition of "sales price" of a taxable item changed?
Bucking this trend, both the average and median sales price for full-service hotel transactions in our database declined in 2004.