DOM - What does that Mean?

DOM stands for Days on Market. This is the stat that many people find interesting but few truly understand. It is not profound in and of itself, rather, it can give us a clue as to how the market has been behaving recently. Ideally, this will put us in the best position to negotiate on a purchase or sale with maximum results!

Here are last weeks stats taken from KeithMaki.com:
Average Days on Market for New Pending Listings: 125 DOM
Average Days on Market for New Closed Listings: 123 DOM

However, these stats are somewhat misleading because there are a small number of homes that have been on the market more than a year that just sold or went pending. Here is a more detailed breakdown:

Pendings from Last Week: 40 - This is what the market is like (last 7 days).
0 - 30 DOM: 13 - this is the biggest by far! About 1 of 3 went pending in 30 days or less.
31 -60 DOM: 3
61 - 90 DOM: 3
91 - 120 DOM: 4
121 - 180 DOM: 7
180 - 270 DOM: 4
271+ DOM: 6

Closed Last Week: 23 - This is what the market WAS like (one to two months ago)
0 - 30 DOM: 3
31 -60 DOM: 4
61 - 90 DOM: 2
91 - 120 DOM: 7 - This is the biggest by far.
121 - 180 DOM: 2
180 - 270 DOM: 2
271+ DOM: 3

KeithMaki.com - Expert research and market analysis!
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