Negotiating on Montreal student housing after 50 days

S

small_quill

First-time buyer
Established
After narrowing the search, I am still seeing Montreal student housing around C$1,555,000 to C$2,333,000 sitting for about 50 days. That raises a new question: make a below-ask offer now, or wait for the seller to reduce publicly?

I would not use the day count alone. I am trying to separate genuinely new supply from relistings and to compare only similar neighbourhoods, condition and vacancy status. Buyer financing may also explain deals that disappeared without completing. If anyone has a recent completed sale, could you share the original ask, final price and whether the property had been withdrawn or relisted?
 
Fifty days gives you a reason to ask questions, not an automatic discount. I’d compare the listing date with any price-cut timing and check whether similar stock was withdrawn rather than sold. A seller who has already reduced once may react differently from one testing the original price. Also, is your target currently vacant, partly vacant or fully occupied? That could matter more than the day count.
 
I’d be cautious about relying on the public asking history. A withdrawn listing can return looking “new,” while the visible sequence still won’t explain financing trouble or a deal that failed to close. Define a tight neighbourhood boundary and compare only buildings with similar condition and vacancy circumstances. Otherwise a completed sale across an arbitrary boundary may be more misleading than helpful.
 
I partly disagree that 50 days is merely a prompt for questions. In this price range, carrying a stale listing through new competition can create leverage even without a price cut. Look at how much new-listing volume has appeared since day one. If buyers now have several credible alternatives, a clean offer below ask may be preferable to waiting for the seller to announce a reduction.
 
The financing piece could decide the strategy. A lower headline offer with uncertain funding may be less attractive than a firmer offer closer to asking, especially for student housing where the property’s condition and vacancy position can affect a buyer’s assumptions. Before choosing a number, ask why the seller is moving, whether earlier offers failed, and whether there is a deadline behind the sale. The answers may reveal more than the 50-day figure.
 
A practical approach would be to build two small sets: completed sales matching the immediate area and property condition, then withdrawn or still-active listings competing for the same buyers. Note original ask, reductions, total exposure including relistings, vacancy position and financing complications. If the target looks weak against both sets, bid now with terms you can support. If it is genuinely the best property, waiting for a cut risks achieving nothing.
 
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