For May 2026, I tracked a narrow group of Bogotá serviced apartments asking between COP 1,345,000,000 and COP 2,017,000,000 rather than relying on a citywide average. The current marketing period is roughly 19 days, and financing costs seem to matter more than the monthly headline figure. Is this ordinary variation between properties, or could it be an early change in this part of Colombia’s market?
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Bogotá serviced apartments: does a 19-day marketing period signal a change?
- Thread starter field.full
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Nineteen days alone is too little to call a market change. I would first compare recent completed sales with asking prices, then count new listings and withdrawals. A short marketing period can mean strong demand, but it can also reflect sellers withdrawing units or accepting reductions quickly. Neighbourhood boundaries matter too; “Bogotá serviced apartments” may combine very different micro-markets.
That is the distinction I am struggling with. I treated the 19 days as marketing time, not proof that units completed at their original asking prices. Splitting the group by neighbourhood and condition should help. For price reductions, would you measure time to the first cut separately from total time marketed?
Yes, but I would not put financing at the centre without evidence about the buyers. Seller motivation could explain the same pattern: a well-presented unit priced for a quick transaction may move while a similar one sits. Record first-list date, first reduction, withdrawal, relisting and completed sale separately. Otherwise a relisted apartment can appear much newer than it really is.
I’d build a simple property-by-property table rather than another average: neighbourhood, condition, original ask, any price cut and its timing, current status, and whether there is a completed-sale figure. Then revisit the same group after more observations. If new-listing volume rises while cuts and withdrawals also appear earlier, that would be more persuasive than 19 days by itself. Financing can remain a possible explanation, but not the conclusion yet.