THE "reality gap" between what homeowners ask for their properties and the final sale price is closing, a new study has found.
The website s1homes reports that the last three months saw a reduction of 5% in the difference between the average house price and the average asking price on the open market.
Estate agents say the gap has dropped as people become more realistic about the prices they expect their homes to fetch.
But it has also been affected by a slight rise in the average house price across Scotland.
According to s1homes, which is part of The Herald & Times Group, the average asking price across Scotland fell by almost 1%, to £167,619, in the three months to September.
At the same time, figures from the Registers of Scotland show the average price for which properties were actually sold increased by 3.8%, from £153,501 between April to June to £159,310 in July to September.
This means that while sales volumes are down, the average property in Scotland is now selling for about 5% less than the asking price, compared to almost 10% less in the previous quarter.
Mark Smith, managing director of s1homes, said: "The report shows that house sellers of most property types are being more realistic and therefore achieving or exceeding their asking prices, but detached properties are still being priced at unrealistic levels leading to a significant reality gap. This is affecting the picture of the market as a whole."
Andrew Watt, managing director of Residence Estate Agents, said: "Whilst many areas of the market have seen noticeable improvement over the past six months and a degree of confidence has returned, the market still remains price-sensitive.
"Initial asking prices are crucial to achieving a successful sale, with 84% of our properties selling in excess of their asking price during this period. While we don't expect house prices to rise significantly in the immediate future, we do expect confidence to continue to grow and activity levels to increase during 2013."
Different types of property are coping with the downturn in the housing market better than others, the s1homes report said.
Sales of flats, terraced and semi-detached houses are achieving above their asking prices, but the reality gap is still in place for detached houses.
According to the latest figures, the average selling price of a detached property is 18% below the average asking price.
Across Scotland, the majority of regions saw a decrease in the reality gap due to an increase in the average price achieved as asking prices began to fall.
However, Argyll & Bute, Falkirk, Renfrewshire, Inverclyde and West Lothian all saw increases in the reality gap as selling prices fell.
Edinburgh bucked the trend, along with East Lothian, with the average property selling for more than the asking price.
The report, published quarterly, samples about 25,000 properties advertised on s1homes.com every month and provides trends in property markets throughout Scotland.
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