When navigating the real estate world—whether you’re buying or selling—there’s one key metric that can offer valuable insight: Days on the Market, or DOM. DOM refers to the number of days a property has been listed on the local MLS (Multiple Listing Service) before the seller accepts an offer and signs a contract. You might also hear it referred to as market time or time on the market. No matter what you call it, DOM can tell a story—and it’s one worth paying attention to. Read on to find out why days on the market matter when buying or selling a home.
What DOM Means for Buyers
If you’re in the market to buy a home, keeping an eye on DOM can give you a serious edge. For example, if a house has just hit the market, there’s a good chance the seller will hold firm on their asking price—or even see multiple offers driving the price up.
On the flip side, a home that’s been sitting on the market for a while may signal an opportunity. Often, a high DOM points to overpricing or a misread of market conditions. Sellers may become more open to negotiations, which can give buyers room to make a lower offer.
That said, a long DOM isn’t always a green light. It’s important to find out why the home hasn’t sold. Sometimes it’s due to pricing, but it could also be because of needed repairs, limited showing availability, or even poor marketing. A good real estate agent can contact the listing agent to uncover these details and assess the seller’s urgency.
Why DOM Should Matter to Sellers
For sellers, DOM is a critical reflection of how your property is being received. The longer your home stays on the market compared to similar properties in your area, the more likely it is that buyers will start to view it as “stale.” This perception can hurt your chances of getting top dollar.
In most cases, a high DOM means you’ll need to make adjustments—whether that’s lowering the price, improving staging, making updates, or rethinking your marketing strategy.
Some sellers consider relisting their property to “reset” the DOM. While this can be effective in some markets (such as New York, where listings removed for 90+ days often reset their DOM), it’s not a guaranteed fix. If you don’t make real changes to the property or its presentation, buyers will likely catch on—and the fresh listing won’t feel so fresh.
Know Your Local Market
The significance of DOM varies by location. In a hot market, homes might sell in just a few days, while in slower areas, a longer DOM might be completely normal. That’s why it’s important to work with an agent who understands local trends and can help you interpret DOM in context.
Bottom Line
Whether you’re buying or selling, Days on the Market is more than just a number—it’s a signal. For buyers, it could point to a bargain hiding in plain sight. For sellers, it’s a real-time indicator of how your home stacks up in the current market.
If you’re in the market to buy or sell, contact the experts at Top Shelf Group to learn more about key metrics in your desired location and how they can help you make informed, confident decisions.