Are active listings making Hong Kong new builds look slower than they are?

I saved a sample of Hong Kong new-build flats priced from HK$3,557,000 to HK$5,335,000, and they are now averaging about 101 days before finding a buyer. This is my first attempt at tracking it, though, and the listings are moving very differently; financing costs seem to explain several outliers. Would recent completed sales support that timeline, or are the stubborn listings still online distorting my sample?

The active listings probably create some survivorship bias: quicker sales disappear while overpriced or less appealing stock remains visible. I would separate completed, withdrawn and still-active units, then note when each price cut occurred. Also, how tightly have you drawn the neighbourhood boundaries? Combining projects with different locations or completion states could easily produce that spread.

I would not assume financing explains the outliers without comparing the flats themselves. Condition, seller motivation and a late price reduction can all extend the advertised period. New-listing volume matters too: 101 days means something different if competing stock rose during your sample. Completed deals are useful, but withdrawals also belong in the picture because some may represent failed sales rather than harmless removals.