How was the list price of a home determined and what is market value?
Home owners set list prices. Sometimes it is on their own, usually it is after reviewing a local market analysis with a REALTOR®. Similar homes vary in price due to location and condition…with other factors such as the builder, owner circumstances, upgrades/updates and staging making a difference.
Regarding location, many subdivisions have different sections with different qualities.
Adjacent properties such as rental buildings, parks, power lines and roads often impact buyer interest. Of course in the end, market value is determined by how much a buyer is willing to pay.