Seoul detached homes: is 105 days meaningful or just stale listings?

[bikesAndEcho]

I’m looking at Seoul detached homes listed between ₩1,397,000,000 and ₩2,095,000,000 this month. My sample suggests roughly 105 days to find a buyer. Renovated properties seem to move quickly, while the rest sit and eventually get price cuts. Most outliers also appear connected to insurance issues.

Am I over-weighting homes that remain online? I’d like to compare recent completed sales, but also account for withdrawn listings rather than treating them as unsold forever. What else would you separate before drawing a conclusion?

 

[ada.heath]

The active sample will naturally contain more slow listings because the quick ones disappear. Completed sales should give you a better comparison, but they create the opposite problem: withdrawn stock is missing, and there may be a delay before a completed deal becomes visible. I’d track active, completed and withdrawn homes separately rather than trying to turn all three into one average.

 

[readTheWorkshop]

How tightly have you drawn the neighbourhood boundaries? A Seoul-wide figure for detached homes could combine very different micro-markets. Also, does 105 days mean days until an offer, until the listing changes status, or until completion? Those dates aren’t interchangeable. I’d also compare how many new listings entered the range during the same period; otherwise ageing stock can dominate a small sample.

 

[lookTheRiver]

I’m not convinced renovation itself is the cause. It may simply be standing in for realistic pricing and a seller who wants a straightforward sale. An unrenovated home at the right price could move faster than an immaculate one priced above what buyers will finance. Did the quick listings sell without cuts, or were they already repositioned before you started watching?

 

[lookTheRiver]

Following that thought, I’d make a simple table for each property: neighbourhood, initial price, current or final price, condition, first price-cut date, final status and days advertised. Keep insurance-related outliers marked rather than deleting them. That should show whether the apparent condition gap survives once pricing and location are separated.

 

[drawTheHarbor]

Seller motivation is another missing piece, though it’s hard to observe directly. Timing of the first reduction can offer a clue: one seller may cut early to secure a buyer, while another leaves an unrealistic figure untouched for months. Those two listings shouldn’t be treated as evidence of the same market pace merely because the homes look similar.

 

[GroundedThread]

Buyer financing could also distort the upper and lower ends of that ₩1,397,000,000–₩2,095,000,000 band. I wouldn’t assume every nominal buyer can proceed on the same timetable. Still, I agree with joana that condition may be getting too much credit. Compare completed prices and price-cut timing before concluding that renovation is what made the difference.

 

[eli_hayes]

I’d keep the 105 days as a description of this particular sample, not yet as Seoul’s time-to-sale. Split the range by neighbourhood and condition, then add recent completed deals and withdrawals. Recalculate once with every listing and once without the insurance outliers. If the pattern remains in both versions—and after accounting for new-listing volume—you’ll have a much stronger observation.