Unfortunately time elapsed on the market doesn't always have the impact that you'd hope for. Its usually a clear sign that the Seller(s) are unrealistic to the value of the property and even after almost 2 years their opinion of value may not have changed much. There is no going rate per se, certainly not in the form of square footage. The best way to propose an offer is to try to find similar value from recent sales. Pardon the plug, but working with an experienced Realtor will ensure that whatever offer you make will be an educated one. Feel free to contact me with any questions, dleiderman@cbmove,com.