Definition
DOM (Days on Market) measures how long a property is actively listed before going under contract. Low DOM indicates strong market demand; high DOM suggests overpricing or issues. It's a critical market health indicator.
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DOM is a widely used metric in real estate that indicates how quickly a property is selling relative to market demand. Low DOM indicates strong market demand and competitive pricing, while high DOM suggests the property may be overpriced or has issues. DOM is an important metric for sellers evaluating pricing strategy and for appraisers assessing market conditions.
Pro Tip
Research average DOM in your market. Properties selling at or below average DOM have been priced well. Slow-selling properties often face price reductions.
Example
Market statistics show that properties in a hot neighborhood have an average DOM of 15 days, while the same neighborhood has had recent sales with DOM of 45+ days, indicating market softening.