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Real Estate Word of the Day: Days on Market

In real estate, the phrase Days on Market (DOM) is a key indicator that represents the number of days a property has been listed for sale before going under contract. It's a vital metric for both buyers and sellers as it reflects the property's appeal and the efficiency of the real estate market in a specific area..

The Importance of Days on Market
  • Property Desirability: A shorter DOM generally suggests higher demand for a property, indicating that it is attractive to potential buyers. Conversely, a prolonged DOM may raise concerns about the property's appeal or pricing strategy, prompting buyers to investigate further.
  • Market Conditions: DOM can be a reflection of the overall health of the real…

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