Days on Market Edge Up in Rio as Vendors Slash Prices Amid Slower Demand

Residential properties in Rio de Janeiro are taking longer to sell in 2026, with the average days on market rising from 54 in June 2025 to 72 last month, according to new data released by Secovi Rio. This shift comes as sellers grow more willing to negotiate, offering deeper discounts to clinch deals amid a cooling post-pandemic market.

The longer wait to sell matters for both buyers and sellers at a time when interest rates remain stubbornly high — the Selic sits at 10.75% — and Brazil’s economic recovery appears patchy. With fewer international buyers than during last year’s pre-election flurry and the effects of recent heatwaves weighing on consumer sentiment, property owners in Rio face increased competition to offload inventory that isn’t moving as quickly as it did in early 2025.

Rio’s Hotspots Cool Off

This trend is most pronounced in traditionally sought-after neighbourhoods like Leblon in the Zona Sul. On streets such as Rua General Urquiza, luxury apartments that once drew multiple offers are now lingering for three months or more. Local agency Julio Bogoricin reports a doubling of listings staying active past 60 days compared to the same period last year.

It’s not just the high end feeling the pinch. In Barra da Tijuca, where developers like Carvalho Hosken have pushed a pipeline of new apartment stock near Avenida das Américas, larger family homes now commonly see 80-90 days on the market before attracting a buyer—up from around 50 days throughout 2024. Recent power outages and weather events have dulled confidence in the area’s newer high-rise condos, according to the Rio Realtors Association.

Vendor Discounting on the Rise

The consequence of these sluggish sales timelines is a notable uptick in vendor discounting. Secovi Rio’s June survey found a citywide average discount of 7.4% on initial asking prices, up from 5.6% a year ago. In Leblon, some brokers report accepted offers running 10-12% below list on apartments above R$3 million, especially those with dated interiors or no ocean view. Barra’s larger units have seen median discounts of R$140,000 as anxious sellers compete for a smaller buyer pool.

This is reinforced by data from Lopes Rio, which tracked 244 closed sales in the city between April and June. Properties listed for more than 60 days achieved sale prices only after an average of two rounds of formal negotiation, with 64% of vendors accepting counteroffers at least 8% below their original price.

Looking ahead, most local analysts expect days on market to remain elevated at least through the winter, especially if Brazil’s central bank holds policy tight. Would-be sellers are advised to set competitive initial prices and be prepared to negotiate, particularly in over-supplied areas such as Recreio and Jacarepaguá. Buyers, meanwhile, have more leverage than at any point since before the pandemic, but will need to move quickly on genuinely underpriced listings—especially in core areas like Ipanema, where priced-right flats still attract attention within weeks.