Are Miami buyers negotiating more after 20 days on market for a five-bed?

C

calm_hearth

First-time buyer
I have checked the visible listing histories for several five-bedroom serviced apartments in Miami, but I still cannot tell whether the sellers are becoming flexible or the properties are simply being marketed normally. They fall between about $960,000 and $1,440,000, and a number have now been advertised for around 20 days.

Clear maintenance-cost information appears to affect buyer interest, although financing and the number of comparable new listings may be part of the explanation too. Would you treat the 20-day point as a reason to make a firmer offer, or wait for a reduction first?

Examples from recent completed sales would help, particularly where the closing price can be compared with the original ask, later cuts and competing stock available at the time.
 
Twenty days alone would not make me assume the seller is ready for a large reduction. I’d compare each listing with genuinely similar completed sales, then look at price cuts, withdrawn stock and how many competing homes appeared during those 20 days. Seller motivation matters more than the day count: a vacant property and an owner testing the market can react very differently to the same offer.
 
How tightly are you defining Miami and “serviced apartment”? A five-bedroom in one neighbourhood or building category may not be comparable with another even at the same price. I’d also separate maintenance charges from unresolved building work. Buyers may tolerate a known recurring cost but hesitate when the future cost or responsibility is unclear.
 
Agreed on the boundaries, although I’d be cautious about relying too heavily on the public asking history. It can show cuts, but not the seller’s rejected offers, concessions or financing problems. A completed price below ask does not automatically mean the buyer negotiated brilliantly; condition, included contents, closing timing and financing can all explain the gap.
 
I’d still negotiate after 20 days if the evidence supports it, just not because 20 is a magic number. Put together three close completed comparisons, note any newer competing listings, and price the cost of visible condition issues. Then make an offer you can explain rather than an arbitrary percentage below ask. Also ask whether there have been prior offers and what closing timetable the seller prefers.
 
That distinction helps. By a clear maintenance answer, I mean that the recurring charges and any anticipated work are explained rather than left vague. I may also be grouping properties across boundaries that are too broad. I’ll narrow the comparison to the same neighbourhood and property setup, separate active listings from withdrawals, and focus on completed sales before deciding how much weight to give the 20 days.
 
That should give you a cleaner picture. I’d add one final column for financing suitability, because an apparently comparable sale may have attracted a different buyer pool. If a property has had a cut near day 20, I would not automatically chase it; the reduction may already reflect the seller’s position. If there has been no cut and competing stock is building, a supported offer with workable terms may be more revealing.
 
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