You find a house you like.

It has been on the market for 32 days.

And almost immediately, the questions start.

What’s wrong with it? Are the sellers getting nervous? How low could we offer?

Maybe there’s an opportunity there.

But the number 32 doesn’t tell us nearly as much as the story behind it.

A home can sit because it was overpriced. It can sit because it needs work. It can sit because an earlier deal fell apart. It can sit because the right buyer simply hasn’t found it yet. And sometimes a home can spend weeks or even months on the market and still ultimately sell at or above its asking price.

That’s why when one of our buyers sends us a listing that has been sitting for a while, we don’t immediately ask, “How much under asking should we offer?”

We ask:

Why is it still available?

Because that answer tells us much more about your negotiating position than days on market ever could.

Days on Market Is a Signal, Not an Answer

There is a reason buyers pay attention to days on market.

The longer a home is available, the more likely it is that something about the original strategy hasn’t connected with the market.

But “something” is doing a lot of work in that sentence.

Maybe the original price was too high.

Maybe buyers are struggling to understand the layout.

Maybe the home needs significant updating.

Maybe it falls into a price range where the buyer pool is smaller.

Maybe the seller has already rejected offers they weren’t comfortable accepting.

Or maybe there is absolutely nothing wrong with the property and it simply hasn’t found the right buyer yet.

That is why days on market becomes the beginning of our research, rather than the conclusion.

First, We Look at the Price History

Imagine a home currently listed at $525,000.

If it entered the market three weeks ago at $525,000 and hasn’t changed price, that tells us one story.

If it originally listed four months ago at $625,000 and has gradually been reduced to $525,000, that tells us something very different.

The current asking price only gives us a snapshot.

We want the history.

How did the seller originally position the property? Have there been reductions? How recently did the price change? Did a reduction suddenly generate new activity?

A property that has been sitting for 60 days may essentially become a new listing to a different group of buyers when a price reduction moves it into another search range.

So even a high days-on-market number doesn’t automatically mean competition has disappeared.

Then We Look for the Story Behind the Listing

One of the most useful things we can determine is whether the property has simply been sitting or whether something happened along the way.

Did it previously go under contract?

Did it come back on the market?

If so, why?

Was there an inspection issue? Did the buyer’s financing fall through? Did the buyer get cold feet? Was there an appraisal issue? Did something else happen entirely?

Those situations are not interchangeable.

A property returning to market because a buyer couldn’t obtain financing tells us something very different from a transaction ending because of a property-related concern.

Sometimes the listing history gives us the answer.

Sometimes the disclosures help.

And sometimes we pick up the phone and ask the listing agent.

What Have Comparable Homes Actually Sold For?

This is where we move away from asking, “How much below asking can we offer?”

The asking price is a seller’s number.

We also want to understand the market’s numbers.

What have comparable homes nearby actually sold for? How recently? How similar were they in size, condition, location and features?

Then we look at what is available right now.

If there are three similar homes competing for the same buyer, that matters.

If this is the only home of its kind available in the area, that matters too.

A home can have 40 days on market and still be appropriately priced today, particularly if the seller has already adjusted the price along the way.

The question isn’t simply how long it has been listed.

The question is whether the current price makes sense in the current market.

Condition Can Create Opportunity

Sometimes the reason a property is sitting becomes fairly obvious when we walk through the door.

Maybe the kitchen hasn’t been updated in decades.

Maybe buyers are struggling to see past cosmetic issues.

Maybe there is deferred maintenance.

Maybe the home is perfectly livable but doesn’t photograph particularly well.

This is where buyers need to distinguish between things that are expensive or difficult to change and things that simply aren’t pretty yet.

Paint can change.

Flooring can change.

A dated bathroom can eventually change.

Location cannot.

Lot size usually cannot.

And some structural or mechanical problems can be far more significant than an unattractive kitchen.

A property other buyers have overlooked can sometimes be an opportunity, but only if we understand why they overlooked it and what it would realistically take to make the home work for you.

What Is the Seller Actually Trying to Accomplish?

This is one of the most overlooked pieces of negotiation.

Buyers understandably focus on price.

Sellers may be thinking about something else entirely.

Maybe they have already purchased another home.

Maybe they need a particular closing date.

Maybe certainty matters more than squeezing every possible dollar out of the transaction.

Maybe they are perfectly comfortable waiting.

We won’t always know a seller’s motivation, and there are limits to what a listing agent can or will share.

But we can ask questions.

And sometimes those conversations help us understand which terms might matter.

That is important because leverage isn’t synonymous with price.

A Better Deal Doesn’t Always Mean a Lower Price

Suppose a seller won’t accept $15,000 less than their asking price.

That doesn’t necessarily mean the negotiation is over.

Depending on the circumstances, there may be other things worth discussing.

Could the seller contribute toward allowable closing costs?

Are there repairs that matter to the buyer?

Would a different closing date solve a problem for the seller?

Are there appliances or other items the parties want included?

Could the structure of the transaction accomplish something that a simple price reduction would not?

For some buyers, reducing the amount of cash needed at closing may be more useful than shaving a relatively small amount from the purchase price.

The right answer depends on the buyer, the financing, the property and the seller.

That is why we negotiate the whole offer, not just the number at the top.

So, How Much Should You Offer?

By now, you probably know our answer.

It depends.

Not because we’re avoiding the question, but because the number of days a home has been listed is only one piece of the answer.

Before helping a buyer decide what to offer, we want to understand the listing history, current price, comparable sales, condition, competition, seller priorities, financing considerations and what the home itself is worth to that buyer.

Then we can talk strategy.

Sometimes that analysis supports an offer below asking.

Sometimes we may recommend asking for something other than a price reduction.

Sometimes the research tells us the house is already priced appropriately.

And sometimes we discover that even after sitting on the market, the property is likely to attract competition.

The goal isn’t to offer as little as possible simply because a listing has been sitting.

The goal is to understand where the opportunity actually is.

Because 30 days on market tells us something.

The story behind those 30 days tells us much more.

Buyer Negotiation FAQs

Does a house sitting on the market mean the seller will take less?

Not necessarily. Longer market time can indicate an opportunity to negotiate, but the reason the property has not sold matters. Pricing history, condition, comparable sales, current competition and seller priorities should all be considered before determining an offer strategy.

How many days on market is considered a long time in Rhode Island?

There is no single number that applies to every Rhode Island property. Typical market time varies by town, price range, property type and season. A home's days on market should be compared with similar properties in its specific market.

Can I make a low offer on a house that has been sitting?

A buyer can choose what to offer, but a low offer is not automatically an effective strategy simply because a property has accumulated market time. Understanding why the home has not sold can help determine whether a lower price or another negotiating term is more likely to be productive.

Does a price reduction mean a seller is motivated?

A price reduction tells us that the seller has responded to market feedback, but it does not necessarily reveal how much further they are willing to negotiate. A recent reduction can also generate new buyer interest and potentially increase competition.

What else can buyers negotiate besides the price?

Depending on the transaction, buyers and sellers may negotiate allowable closing-cost contributions, repairs, closing dates, included personal property and other contract terms. Available options can also depend on the buyer's financing and applicable lending requirements.

Thinking About a Home That Has Been Sitting?

Send it to us.

We can look beyond the number on the listing and help you understand what has actually been happening with the property.

We’ll review the history, comparable sales, current competition and available property information, ask the questions we can ask, and help you think through where there may or may not be an opportunity.

The Sarji Team at Gold Door Realty serves buyers and sellers throughout Rhode Island and nearby Massachusetts, including the Blackstone Valley and Greater Attleboro areas.