Are Seoul buyers negotiating more after 104 days on market?

[steady_wall]

The Seoul market feels split rather than uniformly fast or slow. Mixed-use buildings around ₩469,200,000–₩703,800,000 appear to be sitting for roughly 104 days, while properties with a clear answer on insurance seem to move differently.

Does that time on market now give buyers meaningful negotiating room, or is it mostly a sign that difficult stock is lingering? I’d appreciate recent completed examples, particularly where the final price differed from the public asking history. Neighbourhood, condition, price-cut timing and whether financing was involved would help.

 

[bikesAndEcho]

At 104 days I would negotiate, but I wouldn’t assume the seller is ready to concede. The average can be distorted by withdrawn or repeatedly relisted stock. A completed sale is useful only if you can reconstruct the original ask, later reductions and any break in the listing period.

 

[BrightReed]

How tightly are you defining the neighbourhoods? Two mixed-use buildings at similar prices can have very different buyer pools even when both are described as Seoul. I’d also separate usable condition from buildings needing immediate work. Otherwise the 104-day figure may be combining several distinct markets.

 

[drawsAndMeadow]

I’m not convinced longer exposure automatically means buyers are negotiating more. It may mean buyers are declining properties with unresolved insurance, financing or condition questions, while acceptable listings still sell without a large reduction. The better signal would be completed deals following a visible price cut, not days on market by itself.

 

[EarlyGlass]

Seller motivation matters too. A listing can sit for months because the owner has no deadline and is testing an aspirational price. Before making an aggressive offer, I’d ask when the last reduction occurred, whether there have been earlier offers, and whether the seller has a preferred completion timeline. Flexible timing may be worth more than a slightly higher bid.

 

[noor_grove]

New-listing volume would add context. If fresh comparable stock is arriving while older buildings remain available, buyers gain alternatives and can press harder. If listings are scarce and much of the apparent inventory is withdrawn or unsuitable, 104 days may overstate buyer leverage. Track active, reduced, withdrawn and completed properties separately for a few weeks.

 

[noor_grove]

For any completed examples people share, it would help to use the same compact format: neighbourhood, initial public ask, each cut and date, final price, total exposure including relistings, condition, insurance clarity, and financing if known. That should reveal whether discounts follow a particular point in the listing timeline rather than treating day 104 as a universal trigger.