Does 64 days on market mean more negotiating room in Melbourne?

[followTheWay]

Maybe this is seasonal, but Melbourne agents are giving me very different explanations. The market looks split rather than uniformly fast or slow. For retail units around A$1,672,000–A$2,508,000, I’m seeing roughly 64 days on market.

Properties with a clear answer on service charges seem to move differently. Does 64 days now indicate genuine negotiating room, or is it mainly a mix of condition and seller expectations? Recent completed sales would be useful, especially where the final price differed from the public asking history.

 

[loft.balanced]

Sixty-four days alone does not establish that buyers are negotiating more. I would compare completed sales with withdrawn stock from the same listing period. If many properties disappear without selling, the apparent discount on completed deals may just reflect which sellers were willing to meet the market.

 

[loft.balanced]

Also, how tightly are you drawing the neighbourhood boundaries? Combining nearby areas can produce a misleading average if one has more new listings or a different property mix. And by “retail units,” do you mean commercial retail premises, or residential units in that price bracket? Service charges and buyer expectations could differ considerably.

 

[loft.balanced]

For each comparable, I’d record the original asking figure, any visible price cut, date of that cut, sale date, final price and whether it was relisted. Then add condition and clarity of the ongoing charges. That should show whether negotiations are happening after properties sit for weeks, or whether realistic listings are simply selling while ambitious ones remain online.

 

[plantsAndHorizon]

If you mistake a revised guide for a negotiated discount, you may assume the seller has already shown more flexibility than they actually have. The public history is useful, but it does not necessarily reveal the seller’s original private expectation.

I would add the date of each guide change to the comparison suggested above and relate it to buyer activity, financing issues and the eventual sale. A reduction made to generate interest is not the same signal as a lower price accepted after a credible offer. Completed-sale evidence would therefore change my view more than the advertised cut alone.

 

[SashaRidge]

Financing may be another dividing line in that A$1,672,000–A$2,508,000 range. A buyer can like the property but still need the numbers on recurring charges to be clear before proceeding. Condition matters too: two units with similar asking prices and days online may require very different additional spending, so their final discounts are not directly comparable.

 

[balanced_vale]

I’d separate the sample into sold, still listed and withdrawn, then split again by neighbourhood, condition and whether the charges were clearly stated. After that, look at new-listing volume during the same period. If supply increased while older stock reached 64 days, buyers may have more choice; if supply stayed thin, long marketing periods could instead point to seller motivation or property-specific problems.