DOM vs. CDOM: Days on Market vs. Cumulative Days on Market. Clients often ask me how long a house has been on the market. The answer isn’t always a simple number. The DOM is the time the house has currently been on the market. But if the house has been taken off the market (cancelled, withdrawn, expired), and goes back on within 30 days, the total time it has currently been on the market is added to the previous days on the market to come up with a cumulative days on the market number. If more than 30 days has passed, then the DOM counter resets. The history will still be available to other agents in the MLS when researching properties for their clients. So, even if the DOM has been reset, a savvy agent will research the property history to help their client make the most informed offer.
Example 1: A house is listed on 1/01. The listing expires with the agent on March 31st. On April 7th, the seller relists with the same or a new agent. When another agent pulls up the listing on April 14th, the DOM will be 7 days, the CDOM will be 97.
Example 2: The same house is relisted on May 1st. As of May 3rd, the DOM will be 2, and the CDOM will be 2.
Easy, isn’t it? Do you have a question about a real estate term that you’ve been wondering about? Please leave it in the comments below!
And if you have any questions about selling or buying a home in metro Albuquerque, be sure to contact me today!
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