The Sale-to-List Ratio is the ratio of the final sale price of a home to its list, or asking, price. The ratio is an indication of whether homes are selling above, at or below list prices.

A home with a sale-to-list ratio of greater than 100% means that a buyer paid more than list price, while a sale-to-list ratio less than 100% means that a home sold for less than list price.

Usually a sale-to-list ratio is calculated off the final list price. However, if a property has gone through multiple list price changes, you may also calculate the sale-to-list ratio based on the original list price to give an indication of how much the price had to change before securing a successful sale.