There is no national or even regional standard for how to measure a listing’s “time on market.”
You Asked, We Listened.
We have listened to your concerns about how entry status can skew DOM.
DOM Changes Coming This December
Starting mid-December, all listings will have their DOM calculated based on the First Active Date. Prior to this change, the DOM was calculated differently for listings that started life as Coming Soon as opposed to Active. First Active Date is the first day that a listing is in an Active status.
How DOM is Affected by First Active Date
Moving forward, DOM will start calculating based on the First Active Date regardless of whether Coming Soon was, or was not, part of the listing marketing plan you chose with your seller.
When Will DOM Accrue?
DOM starts to accrue once the listing has been placed in an Active status such as
- Active
- Active/Backup
- Active/First Right
It is important to note that while DOM counts from First Active Date until Pending, Sold, Withdrawn* or Expired (depending on the status choices you make during the life cycle of the listing), the system will count the time in a non-Active status should you return to market from Pending or Withdrawn just as it does today.
DOM stops accruing once the listings has been placed in a non-active status such as
- Withdrawn
- Pending
- Expired
*DOM for properties in Withdrawn status will temporarily halt accumulation. However, once they expire, the DOM will include days from the first active date until the expiration date. This remains the same as well.
How is DOM Affected for Coming Soon Listings?
The progression of Coming Soon is as follows:
Questions? Please contact us at feedback@ires-net.com
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