Days on Market (DOM) refers to the total number of days a property listing remains active before an offer is accepted or the listing agreement ends. It’s a straightforward gauge of how long a home has been available for sale. In most MLS platforms, DOM starts counting from the day the listing goes live.
MLS systems and real estate portals like Zillow, Realtor.com and Redfin track DOM to show market velocity and listing performance. Buyers use it to see which homes are hot and which have lingered. Agents rely on it to adjust pricing and marketing strategies over time.
Cumulative DOM adds up every day a property is on the market, even across multiple listing periods. Reset DOM restarts the count when a home is withdrawn and relisted or when the agent changes. Experienced agents dig into a home’s full history to uncover its actual time on market.
For first-time buyers, DOM translates cryptic MLS data into real insights. A low DOM signals fierce competition, while a high DOM can mean room for negotiation. Understanding DOM helps new buyers set realistic expectations.
Sellers track DOM on comparable listings to see how their home stacks up. A longer DOM than the neighborhood average may indicate overpricing or marketing gaps. Adjusting price or staging after a high DOM can revive buyer interest.
Investors watch DOM trends to identify opportunities and market cycles. Rapidly selling homes with low DOM suggest a hot market ripe for flips or rentals. Conversely, lengthy DOM listings can uncover bargain buys with potential for value-adding improvements.
Understanding DOM is fundamental for new agents and real estate students. It’s a basic metric for market analyses and client presentations. Mastering DOM helps newcomers interpret data and advise clients with confidence.
A low DOM—often under two weeks in fast markets—signals high demand. Buyers must act quickly and may face bidding wars. Sellers with low DOM listings often enjoy premium offers and rapid closings.
A high DOM can point to overpriced homes, structural or title issues, or poor marketing. For buyers, it’s leverage to request price cuts or repairs. Sellers seeing extended DOM should reevaluate pricing strategy and curb appeal.
DOM norms vary widely by region. In a city like Toronto, average DOM might be under 20 days, while in Edmonton it can exceed 40 days. Research local averages to set realistic expectations for your market.
Active listing days count only the calendar days the property is officially on the market. Total or cumulative days include multiple listing spells and any relists. Agents often compare both figures for a full history.
Pulling a listing off-market and relisting can reset the visible DOM count. Some sellers use this tactic to refresh interest, but it can mask a property’s true time on market. Always ask your agent for the full MLS history.
Price cuts don’t reset DOM—they can extend time on market if the reductions fail to attract buyers. A well-timed price drop mid-DOM cycle can reignite interest and shorten time to contract.
Each portal may calculate and display DOM slightly differently. Some use cumulative counts, others reset after certain actions. Check multiple sources and confirm with your agent or local MLS for accuracy.
If your listing’s DOM climbs above local averages, consider a strategic price reduction or incentive. Aligning price with comparable homes can jump-start interest and reduce carrying costs.
Buyers can tailor offers based on a property’s DOM. A home with high DOM may warrant a below-list offer or repair credits. Conversely, a low DOM property often demands full price or escalation clauses to stay competitive.
Combine DOM with metrics like Absorption Rate and current inventory levels to gauge market health. A balanced view of multiple indicators leads to smarter pricing and timing decisions.
Compare 30 days to your local average DOM. If your area’s average is 60 days, 30 is excellent. In a fast metro market averaging 15 days, 30 may suggest your listing needs tweaks.
No. DOM only counts active on-market days. Time spent off the MLS—during renovations or agent changes—does not add to the visible DOM count.
Yes. Withdrawing and relisting a property can reset DOM in public portals, though the MLS retains full history. Prospective buyers and agents should request the original listing data.
MLS databases provide the most accurate DOM figures. Zillow, Realtor.com and Redfin also display DOM but may vary. Always cross-check with your agent’s MLS access for the official count.
Use high DOM as a negotiation tool—start lower or ask for closing cost assistance. For low DOM listings, consider stronger terms like a faster inspection or flexible closing to appeal to sellers.
The Smiths eyed a suburban 3-bed home with a DOM of 65 days—well above the local average of 45. They suspected overpricing and inspected carefully for issues before making an offer.
A 90-day DOM townhouse caught the Smiths’ eye. They discovered minor cosmetic flaws and submitted an offer 10% below list, citing market time and repair estimates.
By leveraging the high DOM and comparable sales data, the Smiths negotiated a final price 7% below the original list, plus seller-paid closing costs—an outcome unlikely in a low-DOM scenario.
DOM is a vital metric for gauging property demand, pricing accuracy and negotiation potential. Low DOM signals a hot market; high DOM can highlight opportunities or pricing missteps.
Ask for the cumulative DOM, any resets in the history, and local average DOM trends. Clarify how price changes have affected time on market over your listing cycle.
Use your MLS dashboard, real estate portals and market reports to monitor DOM trends. Regularly reviewing these metrics will keep you informed and competitive in any market.
