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Asked by L. Miller, Temecula, CA Sat Feb 21, 2009

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Answers

8
David Chambe…, , Saint Petersburg, FL
Fri Mar 6, 2009
Don't ignore anyones answer, Days on market is not a state law it stands for Days on Market, it is not that complicated.
2 votes
David Chambe…, , Saint Petersburg, FL
Sat Feb 21, 2009
Days on Market is how many days in has been for sale. It doesn't need to get more complicated than that.
1 vote
., , Lewisville, TX
Fri May 8, 2009
DOM is number of Days on The Market. It is the day beginning when the home was input into the MLS. It goes option or pending (here in TX has to go pending within 5 days of receiving contract) and shows the contract and close date's. What specifically are you trying to research. Email me here if you like for help:
nicolearenas@ymail.com

Nicole Arenas,REALTOR
0 votes
T.E. & Naima…, Agent, Dallas, TX
Thu Mar 5, 2009
Please ignore the answers from commenters who are not members of NTREIS. Every MLS system is different (although there are similarities). Frisco listings would appear in NTREIS MLS.

Bruce and I are both in NTREIS.

There are two situations.
1. When the property is not yet sold (or leased), the Days on Market (DOM) number is the number of days from the entered listing date up to the current date. The listing agent should put the effective date of the listing agreement as the Listing date, but usually it defaults to the date actually entered into MLS.
2. When the property is sold, the DOM changes to the number of days from Listing until Contract Date. Contract Date is not the date the agent changed the system nor the Closing Date, but rather the Effective Date on TREC-promulgated contracts (bottom of page 7).

Closing can occur up to 90 days later after the Effective Date (Contract Date).
Cali agents like to call this Escrow. Closing (whether in escrow or not) is tracked in NTREIS MLS as the Sold Date and has nothing to do with DOM. [That being said, maybe it should be tracked.]
Web Reference:  http://www.SumnerRealty.com
0 votes
Bruce Lynn, Agent, Coppell, TX
Sat Feb 21, 2009
Normally from listing to contract date.
Web Reference:  http://www.teamlynn.com
0 votes
Jay Shapiro, Agent, Tenafly, NJ
Sat Feb 21, 2009
It all depends on the MLS to which the agent belongs.

There are different stages of the selling process, but basically it is Active (on the market), Pending/Under Contract and Sold/Closed. One MLS might use DOM (Days on Market) and another use DSL (Days Since Listed) to differentiate the different status reports.

It is possible for a house to be listed and an offer accepted by the seller the same day. Depending upon the state, a contract could be signed three days later and all the contingencies satisfied 45 days later and the closing held 15 days after that. Would one say that the DOM was 60 days since that is when the escrow closed? Perhaps, but the actual agreement was signed 3 days after the house came to market. Therefore the real DOM was 3 days, not 60.

It may seem like a minor point, but in fact it is important to note because it affects the absorption rate statistics in the market which show if we are in a buyers or a sellers market.
0 votes
Bill Eckler, Agent, Venice, FL
Sat Feb 21, 2009
L.

There can be 2 numbers acssociated with "days on market."

One defining the number of days on the market during this listing period.

The second identifying the TOTAL number of days the home has been listed for sale. This may involve multiple agents.
0 votes
Tim Snay, Agent, Westlake Village, CA
Sat Feb 21, 2009
Days on Market starts with the date the home was listed until close of escrow. Multiple listing services have gotten stricter with the number...if the home goes off the market (cancelled or expired) and then is brought back out as a new listing within a short period of time...the Cumulative Days on the Market number will keep counting so there is an accurate total for how long the property has been for sale.
0 votes
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