Asking price, completed price and market index are different numbers
Why a defensible property database needs separate price types—and why a portal should never silently turn one into another.
· Market & Data · 6 min read
An asking price is an offer position
The asking price is what a seller or representative advertises at a particular time. It can change, be withdrawn or differ across channels. It does not establish what a buyer paid, what a lender will accept or what another unit is worth. A price reduction is similarly an advertised change, not proof of a bargain.
Inspect source-linked asking prices — See how advertised, starting and missing prices remain distinct in the interface.
A completed price needs transaction evidence
A completed-sale figure should be tied to an appropriate transaction record, date and unit identity. Without that evidence, a portal should not relabel an advertisement as a comparable sale. Even with a real completed price, differences in floor, renovation, tenure, furnishings and payment terms can limit comparability.
Do not calculate a discount by comparing one unit’s asking price with another unit’s completed price without making the difference explicit.
An index describes a defined population and method
An official or commercial index normally aggregates a defined set of observations using a stated methodology. Its coverage, weighting, time window and adjustments determine what it can say. A city or national index can provide context while still being inappropriate as a direct estimate for one unusual penthouse.
- Store the price type with every figure.
- Attach currency, observation date and source.
- Keep model estimates separate from supplied amounts.
- Show the limitation beside the number, not buried in a methodology page.
Read the building-dossier method — See how source and change history fit into property research.