Market price refers to:

Market price is defined as the actual amount paid for a property in a transaction, reflecting what a buyer and seller agreed upon at the time of sale. This concept encompasses the value agreed upon in a real estate exchange and provides insight into the current market dynamics.

When considering market price, it is essential to recognize that it is the final figure received after negotiation, which includes various factors such as current demand, property condition, location, and economic conditions. This is distinct from the maximum price a buyer might be willing to pay or the minimum a seller is willing to accept, as those figures do not necessarily result in an actual transaction.

The other options describe related but separate concepts. For instance, the highest price a buyer is willing to pay reflects buyer sentiment but does not account for the seller's side of the negotiation or market dynamics. The price a seller is willing to accept highlights seller motivations and expectations but may not match the ultimate selling price. The average price of similar properties provides a broader market trend but does not pinpoint the actual transaction for a specific property. Thus, the correct understanding of market price is the concrete monetary amount exchanged during a sale.