Days on Market Overview
Days on Market (DOM) is a statistic that can be used to determine the state of the market and the effectiveness of individual listing agents. It can also be used on a per-listing basis to help gauge how motivated a seller might be, thereby affecting the offers received on a property. This topic explains the concepts behind days on market.
DOM is calculated automatically in Flexmls based on the dates when a listing goes on and off the market. The specific rules for calculating DOM may vary by MLS. If you are unsure how Days on Market is currently being calculated for your listings, please contact your MLS.
Definitions
An MLS can track standard Days on Market (DOM), Agent Days on Market (ADOM), or Cumulative Days on Market (CDOM).
Term | Definition |
|---|---|
DOM (Days on Market) | The amount of time an individual listing has spent on the market. |
ADOM (Agent Days on Market) | The amount of time a property has spent on the market with a particular listing agent. Days on market from a previous listing for the same property with the same agent may be carried forward to a new listing, depending on MLS rules. If ADOM is used, it replaces standard DOM. |
CDOM (Cumulative Days on Market) | The amount of time a property has spent on the market with any listing agent. Days on market from a previous listing for the same property may be carried forward to a new listing, depending on MLS rules. |
Calculating DOM for a Listing
To calculate DOM, begin by determining the start date and end date for the listing. Then, depending on MLS rules, subtract the number of days that a listing has spent in off-market statuses during its life cycle (for example, if the listing was put on Hold).
If your MLS uses ADOM or CDOM, add days on market from a previous listing to the total, if a previous listing meets the criteria set by the MLS.
| In most cases, the start date is the date that the listing was entered in the MLS. In an MLS where CDOM is used, the Begin Date (when the listing first became active) may be used instead of the Entry Date (when the listing was entered in the MLS). | |
| The end date varies based on the current status of the listing. For an Active listing, DOM is still accruing, so the current date is used as the end date. For an off-market listing, the end date is the date when the listing was sold, cancelled, or otherwise went off the market. For Sold listings, the MLS can use either the Under Contract Date or the Sold Date as the end date. | |
| The MLS can choose to subtract days spent in Withdrawn, Coming Soon, On Hold, Pending, and Expired statuses from Days on Market. It's important to note that days off market are subtracted only if the listing goes back on the market. | |
| When an MLS uses ADOM or CDOM, Flexmls identifies applicable listings whose days on market should be carried forward.
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