711,952
Days on market help us all to know if our market is hot or cold, if the home is priced well or not. It is extremely helpful information in pricing, marketing, and offering on a home.
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Debe Maxwell, CRS
Charlotte, NC
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Bob "RealMan" Timm
Minot, ND
-
Kathleen Daniels, Prob...
San Jose, CA
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Michael Jacobs
Pasadena, CA
-
Lyn Sims
Schaumburg, IL
-
Ryan Huggins - Thousan...
Thousand Oaks, CA
-
John Juarez
Fremont, CA
54,940
It is a critical statistic on a home - may not work to the advantage of a seller, but is critical to the buyer. Also, helpful to the agent. Not sure why one would even consider eliminating it.
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Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Kathleen Daniels, Prob...
San Jose, CA
-
Michael Jacobs
Pasadena, CA
-
Nina Hollander, Broker
Charlotte, NC
-
Lyn Sims
Schaumburg, IL
-
John Juarez
Fremont, CA
519,324
Mine does and some public sites report it broadly as well. Clients often ask me when a home has been on for a while, "what's wrong with it?"
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Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Kathleen Daniels, Prob...
San Jose, CA
-
Michael Jacobs
Pasadena, CA
-
Fred Griffin Florida R...
Tallahassee, FL
-
Nina Hollander, Broker
Charlotte, NC
2,684,209
Our MLS shows CDOM (cumulative days on MLS) and DOM (days on MLS with the current listing office).
Even if MLS doesn't show it, many third party websites, including NAR RPR and Zillow, show Days on Market.
It can be to the Seller's advantage... it may show them that their price is too high, or that their house is not readily available for showing, or that their current listing agent needs to change the marketing strategy.
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Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Kathleen Daniels, Prob...
San Jose, CA
-
Michael Jacobs
Pasadena, CA
-
Nina Hollander, Broker
Charlotte, NC
-
John Juarez
Fremont, CA
1,311,772
DOM is an important measure of the attractiveness of a listed property when measured against the general market. In general, and simply, the longer the property is on the market the more important becomes the answer to the question: Why is it not sold?
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Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Kathleen Daniels, Prob...
San Jose, CA
-
Michael Jacobs
Pasadena, CA
-
Nina Hollander, Broker
Charlotte, NC
-
Lyn Sims
Schaumburg, IL
4,572,645
I have found most people want to know about days on market stats as it is an indictation of a property's success among its competition. As far as an advantage or disadvantage to a seller --- there can be arguments pro and con but I don't see this statistic eliminated.
By the way -why is this question being asked anonymously?
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Richard Weeks
Dallas, TX
-
Debe Maxwell, CRS
Charlotte, NC
-
John Pusa
Glendale, CA
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Bob "RealMan" Timm
Minot, ND
-
Kathleen Daniels, Prob...
San Jose, CA
461,183
Yes, absolutely agree with several others that have answered. Days on the Market, Days in the MLS, Cumulative Days on Market when Sellers switch agents or try to un-list and re-list to change MLS numbers or position on Z, T or Realtor.com. Very important to the Sellers to gauge market reception and timing for pricing adjustments as well for Buyers to show market activity and a call to action to make an offer in markets that are hot. One of the most commons questions Buyers ask.
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Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Kathleen Daniels, Prob...
San Jose, CA
-
Michael Jacobs
Pasadena, CA
-
Fred Griffin Florida R...
Tallahassee, FL
5,104,931
Days on market is a critical component to understanding market trends. If a home is on the market too long the DOM tracking is not the problem... more likely it's the fact that the sellers have an agent who has not priced the home correctly and marketed it aggressively enough. And possibly the seller also isn't doing their share to get the home sold. Those things work to the disadvantage of the seller.
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Richard Weeks
Dallas, TX
-
Bob "RealMan" Timm
Minot, ND
-
Kathleen Daniels, Prob...
San Jose, CA
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Michael Jacobs
Pasadena, CA
-
Fred Griffin Florida R...
Tallahassee, FL
1,844,301
Yes I do, why don't you think so?
I also think they should track fall thru's on a property but they don't. Very easy to figure out but they don't.
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Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Kathleen Daniels, Prob...
San Jose, CA
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Michael Jacobs
Pasadena, CA
-
Nina Hollander, Broker
Charlotte, NC
1,503,048
We've recently changed to "Days in MLS" instead of "Days on Market." Allegedly it helps keep the numbers down for people who are in the MLS and aren't ready to be shown. Don't know if it really makes any difference at the end of the day. If something has a high number of days, it may mean it's over priced. Lately I've seen buyers agents try to hit you up to see if sellers want to lower their price after 10 days on market. Had that on one property that was listed for 15 days. Had the utmost pleasure in telling her that not only were we in multiple strong offers but we were going to be pending shortly. Too many low ballers!
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Bob "RealMan" Timm
Minot, ND
-
Kathleen Daniels, Prob...
San Jose, CA
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Michael Jacobs
Pasadena, CA
-
Nina Hollander, Broker
Charlotte, NC
-
Candice A. Donofrio
Fort Mohave, AZ
4,161,147
Many good responses.
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Bob "RealMan" Timm
Minot, ND
-
Debe Maxwell, CRS
Charlotte, NC
-
Michael Jacobs
Pasadena, CA
2,390,787
The smart Seller will pay attention to it providing they have an Agent that explains what it means and why their home may be headed for "the long haul".
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John Pusa
Glendale, CA
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Debe Maxwell, CRS
Charlotte, NC
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Michael Jacobs
Pasadena, CA
911,458
In some cases, Days on Market is useless info. It will vary by location, type of property, price ranges, amount of acreage, etc. It's normal for some properties around here to stay on market for 6 months to 2 years. Lots/land and historic properties almost always stay on market longer than aveage. You just have to know your local market. DOM is just one of many factors to look at, but it's often misinterpreted by potential buyers and even some agents.
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Debe Maxwell, CRS
Charlotte, NC
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Michael Jacobs
Pasadena, CA
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Bob "RealMan" Timm
Minot, ND
3,345,257
Yes. As many others have stated days on market is good information to have for many reasons.
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Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
5,772,575
It is a statistic than one can interpret. A
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Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
6,393,609
They already do, and it often does.
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Debe Maxwell, CRS
Charlotte, NC
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Bob "RealMan" Timm
Minot, ND
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Michael Jacobs
Pasadena, CA
5,230,164
Yes they should be tracked and it is an absolutely necessary piece of information used in tracking market absorption trends.
In my opinion, it serves as an advantage for sellers who price their homes correctly and have prepared their homes properly for the market - any market.
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John Pusa
Glendale, CA
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Bob "RealMan" Timm
Minot, ND
544,014
Yes, should track.
Sometimes it's an advantage, sometimes a disadvantage,
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
3,164,399
of course I do. I mean anyone could do it, so might as well make it easy.
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Bob "RealMan" Timm
Minot, ND
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Michael Jacobs
Pasadena, CA
1,239,901
ALWAYS. It used to be people take it down and list to make it a new listing. Now it requires 30+ days off the market and start it.....
Harder to cheat.
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Bob "RealMan" Timm
Minot, ND
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Michael Jacobs
Pasadena, CA
3,986,258
It is a good idea
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Bob "RealMan" Timm
Minot, ND
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Michael Jacobs
Pasadena, CA
1,712,676
They should but it is somewhat useless data.
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Michael Jacobs
Pasadena, CA
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Bob "RealMan" Timm
Minot, ND
1,544,068
- No
- Yes
- This is why I use Coming Soon off MLS marketing and the Buyer's Hunt APP among other methods. I market the hell out of my listings before they hit the MLS. CAR form SELM allows us to do so thank goodness.
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Debe Maxwell, CRS
Charlotte, NC
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Bob "RealMan" Timm
Minot, ND
5,583,278
new construction skews the stats.... agent put in mls and leave it until it closes.... but it's a lot that won't begin construction for a year!!!! that skews everything.
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Michael Jacobs
Pasadena, CA
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Bob "RealMan" Timm
Minot, ND
247,699
I think it's a help to the seller. A clear message that you have over priced your home.
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Bob "RealMan" Timm
Minot, ND
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Michael Jacobs
Pasadena, CA
7,836,748
Yes. Good information to share.
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Bob "RealMan" Timm
Minot, ND
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Michael Jacobs
Pasadena, CA
900,278
Yes, should be tracked - good to know. Could be an advantage or disadvantage, could indicate an overpriced or overhyped home if lingers on market or a well-priced property if sold quickly.
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Bob "RealMan" Timm
Minot, ND
191,939
it does in our MLS and it's very helpful for evaluating pricing
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Bob "RealMan" Timm
Minot, ND
4,800,082
851,242
Our MLS shows DOM. IMHO it's a good metric to have available but there are times that it can work to a seller's disadvantage IF the buyer doesn't have the right agent educating them as to factors that can impact the data (started out too high, buyers market trend, etc, etc)
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Bob "RealMan" Timm
Minot, ND
3,416,038
It is an important number and should be tracked. It tells me what is over priced in most cases.
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Bob "RealMan" Timm
Minot, ND
5,217,433
Perception is reality. What do you think?
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Bob "RealMan" Timm
Minot, ND
4,434,127
2,436,470
Our MLS does show days on market, which in our area is defined as the days between listing and contract.
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Bob "RealMan" Timm
Minot, ND
4,319,419
I think it is okay to understand how fast or slow the market is.
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Bob "RealMan" Timm
Minot, ND
1,598,452
644,165
our MLS does so doesn't matter what I think, but can work to the advantage or disadvantage of the home seller.
4,936,827
5,868,699
3,071,489
87,920
4,883,260