The Meaning of “Days on Market”

When you see “Days on Market” (DOM) next to a listing, it’s more than just a number—it’s a measure of how long a home has been chasing its next owner. DOM starts ticking the moment your agent feeds the property into your local Multiple Listing Service and stops once buyer and seller sign on the dotted line.

Why are days on market important? Housing sales are subject to ongoing changes in market conditions—either prices are rising or falling, sellers are offering incentives or none at all, or they’re reducing listing prices or holding firm. This information and more is supplied by reports created by listing and buyers’ agents to show their clients.

Days on market also have a trendline: they’re either getting longer or shorter. If a home lags on the market longer than current market conditions, it’s a good clue for the seller that it’s time to lower the price, and it also tells homebuyers that the home is ripe for negotiation.

Such transparency in metrics evens the playing field for both sellers and buyers.