Days on Market (DOM)
The number of days between when a property is listed for sale and when it goes under contract. DOM is a key market indicator — declining DOM suggests a strengthening market, while increasing DOM suggests weakening.
DOM is analyzed both for individual comparable sales and as a trend for the overall market. Low DOM combined with multiple offers and sale prices above list price are hallmarks of a strong seller's market. Very high DOM may indicate overpricing, property issues, or weak demand. The appraiser reports DOM for each comparable sale and considers the average DOM trend in the neighborhood analysis. Comparables with extremely high DOM may require extra scrutiny — the sale may not reflect typical market conditions.
Related Terms
Market Conditions
The current state of supply and demand in the real estate market for a particular property type in a defined area.
Absorption Rate
The rate at which available properties are sold or leased in a specific market during a given time period.
Exposure Time
The estimated length of time a property would have been offered on the market before a hypothetical sale at the appraised value on the effective date.
Months of Supply
The estimated time it would take to sell all current listings at the current sales pace, calculated by dividing active inventory by the average monthly sales rate.
More in Market Analysis
View allTime Adjustment (Market Conditions Adjustment)
An adjustment applied to a comparable sale to account for changes in market value between the date of the comparable's sale and the effective date of the appraisal.
Marketing Time
The estimated time it would take to sell a property starting from the effective date of the appraisal, looking forward.
Comparative Market Analysis (CMA)
CMAAn estimate of a property's value prepared by a real estate agent using recent sales, active listings, and pending sales data.
Broker Price Opinion (BPO)
BPOA property valuation estimate provided by a licensed real estate broker, less detailed than a formal appraisal.