Tokyo coastal property: 0.3% movement, but condition seems to decide the discount

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Homeowner
I’m torn between reading this as weak demand and treating it as a condition-driven split within several coastal Tokyo markets. The properties I’m following are listed between ¥69,770,000 and ¥104,700,000; the snapshot reports movement of 0.3% and about 113 days on market.

Renovated stock appears to move sooner, whereas dated homes often remain available until the seller cuts the price. Energy performance and renovation quality may matter, but new-listing volume, seller motivation and relisting could be distorting that impression.

For anyone seeing a similar pattern, which neighbourhood and property type are you looking at? I’d also like to know whether the 0.3% reflects asking prices or completed transactions. My next step is to separate continuous listings from relisted homes and avoid combining distinct neighbourhoods into one sample.
 
Condition may be the visible difference, but I don’t think energy performance can be separated cleanly from the rest of a condo purchase. Building age, management, layout, renovation work and monthly charges can all affect the same buyer decision.

I’d split the sample before interpreting the 0.3%: if it comes from asking prices, use it only to track seller behaviour; if it comes from completed sales, compare within the same property type and a tight neighbourhood boundary. Which category supplies most of your observations?
 
The 113 days may also be misleading if withdrawn homes later return as new listings. I’d separate continuous listings from withdrawn and relisted stock before drawing conclusions. Completed sales would be more useful than asking-price cuts, especially if the advertised renovation standard is inconsistent.
 
Neighbourhood boundaries matter here. I’d avoid treating Kachidoki, Toyosu and the wider Shinagawa side as one coastal market, even before separating tower condos from smaller buildings or detached property. Buyer priorities can differ by building and access, so one average could conceal several distinct patterns.
 
Another useful split is the timing of the first reduction. A dated home cut after a short period suggests a seller testing the market; the same cut after months may indicate stronger initial resistance or little urgency. Seller motivation could explain part of the negotiated discount that is currently being attributed to energy performance.
 
I’m less convinced that renovation alone makes homes move quickly. Buyer financing can be the constraint: two similarly priced properties may produce very different overall monthly commitments. A renovated listing can also be overpriced because the seller expects to recover every improvement. I’d want the completed price, not just whether it disappeared from the portal.
 
That is fair, hana_smith. “Sold” and “no longer advertised” should not be treated as equivalent. The comparison needs completed transactions, withdrawn stock and active listings kept in separate groups. New-listing volume matters too: 113 days looks different in a thin flow of listings than in a market where buyers continually receive fresh alternatives.
 
A practical way forward would be a small table for each property: precise neighbourhood, condo or detached, building age, floor area, renovation scope, asking-price history, days continuously advertised, withdrawal or completion outcome, and any stated energy features. Then compare within narrow groups rather than across the full ¥69,770,000–¥104,700,000 range. That should show whether energy performance still has an effect after general condition is separated out.
 
I’d also define “renovated” more tightly. Cosmetic finishes, replaced equipment and work affecting energy use are not interchangeable, yet listings may present all three as renovation. If David’s fast-moving group mostly has broad upgrades while the slow group needs several kinds of work, energy performance may be only one part of a larger condition discount.
 
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