Days on market (DOM) in real estate refers to the number of days a property remains listed for sale before it is sold or taken off the market. This metric serves as a vital indicator of the market’s health and the property’s attractiveness to potential buyers. A shorter DOM typically suggests a strong demand for properties in that market, potentially resulting in quicker sales and competitive bidding scenarios. On the other hand, a longer DOM may signal various factors such as pricing issues, property condition concerns, or market slowdowns, prompting sellers to reassess their listing strategies. DOM influences both sellers, who use it to gauge pricing and marketing effectiveness, and buyers, who interpret it to assess market conditions and property desirability. Overall, DOM provides valuable insights into the dynamics of real estate transactions, helping stakeholders make informed decisions based on current market activity and trends.
DOM in Real Estate
