1. What is Days On Market?

Days On Market (DOM) is a key real estate metric that measures the number of days a property is listed for sale before it goes under contract. It provides valuable insights into market conditions and property appeal.

2. How Does the Calculator Work?

The calculator uses the simple DOM formula:

Where:

• \( Closing\ Date \) — The date when the property sale is finalized
• \( Listing\ Date \) — The date when the property was first listed for sale

Explanation: The calculation provides the total number of days the property was actively on the market before being sold.

3. Importance of DOM Calculation

Details: DOM is crucial for real estate analysis, helping sellers price properties appropriately, buyers understand market trends, and agents develop effective marketing strategies.

4. Using the Calculator

Tips: Enter the listing date and closing date in the format YYYY-MM-DD. Ensure the closing date is after the listing date for accurate calculation.

5. Frequently Asked Questions (FAQ)

Q1: What is considered a good DOM?
A: A DOM under 30 days is typically excellent, 30-60 days is good, while over 90 days may indicate pricing or marketing issues.

Q2: Does DOM include weekends and holidays?
A: Yes, DOM includes all calendar days from listing to closing, including weekends and holidays.

Q3: How does DOM affect property pricing?
A: Properties with high DOM may need price reductions, while low DOM can indicate strong market demand and support higher pricing.

Q4: What factors influence DOM?
A: Location, pricing, property condition, seasonality, and local market conditions all significantly impact DOM.

Q5: Is DOM the same as time to close?
A: No, DOM measures time from listing to contract acceptance, while time to close includes the entire process until final sale completion.