Anonymous

Spam prevention
Rainmaker
564,652
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

Days on market help us all to know if our market is hot or cold, if the home is priced well or not. It is extremely helpful information in pricing, marketing, and offering on a home.

Jun 05, 2018 02:49 PM
Rainmaker
54,890
Jordan Ayan
The Lifestyle Collection - Scottsdale, AZ
Luxury Market Expert, CLHMS,Million Dollar Guild

It is a critical statistic on a home - may not work to the advantage of a seller, but is critical to the buyer.  Also, helpful to the agent.  Not sure why one would even consider eliminating it.

Jun 05, 2018 02:46 PM
Rainmaker
514,174
Dan Tabit
Keller Williams Bellevue - Sammamish, WA

Mine does and some public sites report it broadly as well.  Clients often ask me when a home has been on for a while, "what's wrong with it?"

Jun 05, 2018 03:40 PM
Ambassador
2,577,157
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

        Our MLS shows CDOM (cumulative days on MLS) and DOM (days on MLS with the current listing office).  

       Even if MLS doesn't show it, many third party websites, including NAR RPR and Zillow, show Days on Market.   

      It can be to the Seller's advantage... it may show them that their price is too high, or that their house is not readily available for showing, or that their current listing agent needs to change the marketing strategy. 

    

Jun 05, 2018 03:08 PM
Rainmaker
928,777
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

DOM is an important measure of the attractiveness of a listed property when measured against the general market. In general, and simply, the longer the property is on the market the more important becomes the answer to the question: Why is it not sold?

Jun 05, 2018 03:00 PM
Rainmaker
4,142,353
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

I have found most people want to know about days on market stats as it is an indictation of a property's success among its competition. As far as an advantage or disadvantage to a seller --- there can be arguments pro and con but I don't see this statistic eliminated. 

By the way -why is this question being asked anonymously? 

Jun 05, 2018 04:43 PM
Rainer
377,915
Clay R. Seay
Florida Homes Realty & Mortgage - Saint Augustine, FL

Yes, absolutely agree with several others that have answered. Days on the Market, Days in the MLS, Cumulative Days on Market when Sellers switch agents or try to un-list and re-list to change MLS numbers or position on Z, T or Realtor.com. Very important to the Sellers to gauge market reception and timing for pricing adjustments as well for Buyers to show market activity and a call to action to make an offer in markets that are hot. One of the most commons questions Buyers ask.

Jun 05, 2018 03:56 PM
Rainmaker
4,181,682
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Days on market is a critical component to understanding market trends. If a home is on the market too long the DOM tracking is not the problem... more likely it's the fact that the sellers have an agent who has not priced the home correctly and marketed it aggressively enough. And possibly the seller also isn't doing their share to get the home sold. Those things work to the disadvantage of the seller.

Jun 05, 2018 03:50 PM
Rainmaker
1,730,820
Lyn Sims
Schaumburg, IL
Schaumburg Real Estate Agent Retired

Yes I do, why don't you think so? 

I also think they should track fall thru's on a property but they don't. Very easy to figure out but they don't.

Jun 05, 2018 03:26 PM
Rainmaker
1,394,769
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

We've recently changed to "Days in MLS" instead of "Days on Market."  Allegedly it helps keep the numbers down for people who are in the MLS and aren't ready to be shown.  Don't know if it really makes any difference at the end of the day.  If something has a high number of days, it may mean it's over priced.  Lately I've seen buyers agents try to hit you up to see if sellers want to lower their price after 10 days on market.  Had that on one property that was listed for 15 days.  Had the utmost pleasure in telling her that not only were we in multiple strong offers but we were going to be pending shortly.  Too many low ballers!

Jun 05, 2018 03:02 PM
Rainmaker
3,510,318
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Many good responses.

Jun 05, 2018 08:56 PM
Rainmaker
1,928,258
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

The smart Seller will pay attention to it providing they have an Agent that explains what it means and why their home may be headed for "the long haul".

Jun 05, 2018 07:24 PM
Rainmaker
853,495
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

In some cases, Days on Market is useless info. It will vary by location, type of property, price ranges, amount of acreage, etc. It's normal for some properties around here to stay on market for 6 months to 2 years. Lots/land and historic properties almost always stay on market longer than aveage. You just have to know your local market. DOM is just one of many factors to look at, but it's often misinterpreted by potential buyers and even some agents.

Jun 05, 2018 05:50 PM
Ambassador
3,082,568
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

Yes.  As many others have stated days on market is good information to have for many reasons. 

Jun 05, 2018 05:01 PM
Rainmaker
5,653,702
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

It is a statistic than one can interpret.  A

Jun 05, 2018 03:53 PM
Ambassador
5,465,614
Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

They already do, and it often does.

Jun 05, 2018 03:07 PM
Ambassador
4,312,006
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Yes they should be tracked and it is an absolutely necessary piece of information used in tracking market absorption trends.

In my opinion, it serves as an advantage for sellers who price their homes correctly and have prepared their homes properly for the market - any market.

Jun 05, 2018 10:10 PM
Rainmaker
527,095
Dave Halpern
Keller Williams Realty Louisville East (502) 664-7827 - Louisville, KY
Louisville Short Sale Expert

Yes, should track.

Sometimes it's an advantage, sometimes a disadvantage,

Jun 05, 2018 09:04 PM
Ambassador
3,044,286
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

of course I do.  I mean anyone could do it, so might as well make it easy.

Jun 05, 2018 08:44 PM
Rainmaker
1,158,087
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

ALWAYS.  It used to be people take it down and list to make it a new listing. Now it requires 30+ days off the market and start it.....

Harder to cheat.

Jun 05, 2018 07:48 PM
Rainmaker
3,985,928
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

It is a good idea

Jun 05, 2018 07:45 PM
Rainmaker
1,707,423
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

They should but it is somewhat useless data.

Jun 05, 2018 06:34 PM
Rainmaker
1,256,437
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast
  1. No
  2. Yes
  3. This is why I use Coming Soon off MLS marketing and the Buyer's Hunt APP among other methods. I market the hell out of my listings before they hit the MLS. CAR form SELM allows us to do so thank goodness.
Jun 05, 2018 06:09 PM
Rainmaker
5,572,197
Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

new construction skews the stats.... agent put in mls and leave it until it closes.... but it's a lot that won't begin construction for a year!!!! that skews everything.

Jun 05, 2018 06:07 PM
Rainmaker
171,908
Jerry Thomas-Construction Loans
Cranbrook Loans - Farmington Hills, MI
Construction Loans in MI, OH, VA, GA and FL.

I think it's a help to the seller. A clear message that you have over priced your home.

Jun 05, 2018 04:52 PM
Rainmaker
6,677,963
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Yes. Good information to share.

Jun 05, 2018 04:40 PM
Rainmaker
827,632
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

Yes, should be tracked - good to know. Could be an advantage or disadvantage, could indicate an overpriced or overhyped home if lingers on market or a well-priced property if sold quickly.

Jun 06, 2018 07:36 AM
Rainmaker
187,950
Erika Rae Albert, Austin Real Estate Expert
E*Rae Realty - Austin, TX
Exceeding Expectations in Every Transaction

it does in our MLS and it's very helpful for evaluating pricing 

Jun 06, 2018 07:07 AM
Rainmaker
4,799,601
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Sure, why not.

Jun 06, 2018 06:01 AM
Rainmaker
767,544
Brenda Mayette
Miranda Real Estate Group, Inc. - Glenville, NY
Getting results w/ knowledge & know-how!

Our MLS shows DOM.  IMHO it's a good metric to have available but there are times that it can work to a seller's disadvantage IF the buyer doesn't have the right agent educating them as to factors that can impact the data (started out too high, buyers market trend, etc, etc)

Jun 06, 2018 06:00 AM
Rainmaker
3,340,095
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

It is an important number and should be tracked. It tells me what is over priced in most cases. 

Jun 06, 2018 05:22 AM
Rainmaker
4,269,408
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Perception is reality. What do you think?

Jun 06, 2018 04:55 AM
Rainmaker
4,433,753
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Yes.

Jun 06, 2018 03:53 AM
Ambassador
1,922,639
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker, eXp Realty - Kalispell, MT
Helping your Montana dreams take root

Our MLS does show days on market, which in our area is defined as the days between listing and contract. 

Jun 06, 2018 03:40 AM
Ambassador
4,314,394
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

I think it is okay to understand how fast or slow the market is.

Jun 05, 2018 11:30 PM
Rainmaker
1,597,830
Valeria Mola
SIB Realty - Miami, Sunny Isles Beach - Sunny Isles Beach, FL
305-607-0709 SIB Realty Condos for Sale and Rent

No idea.

Jun 26, 2019 04:05 PM
Rainmaker
548,990
Greg Large
ERA Real Solutions - Grove City, OH
A Tradition of Trust

our MLS does so doesn't matter what I think, but can work to the advantage or disadvantage of the home seller.

Jun 11, 2018 02:06 PM
Rainmaker
4,053,320
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Ours tracks it.

 

Jun 10, 2018 09:46 AM
Rainmaker
5,001,273
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

I do, it shows the saleability of a home.

Jun 09, 2018 06:47 AM
Rainmaker
3,070,134
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Yes and possibly

Jun 08, 2018 05:06 AM
Rainer
87,870
Jeff Perlis Prime Properties
Prime Properties - Lake Arrowhead, CA
Experience Your Own Transformation!

I belive all MLSs do.

Jun 07, 2018 01:56 PM
Rainmaker
4,093,821
Richard Weeks
Dallas, TX
REALTOR®, Broker

Sure they should.  Might show the seller has the property overpriced.

Jun 07, 2018 09:52 AM