MARKET UPDATES
What does days on market mean?
By Steve Lockhart
The short answer
Days on market, often shortened to DOM, counts the days a listing is active before it goes under contract. It is a direct measure of sales pace: quick absorption shows up as low DOM, slow absorption as high DOM. It is one of the first numbers agents check when sizing up a market.
Full answer
Days on market, often shortened to DOM, counts the days a listing is active before it goes under contract. It is a direct measure of sales pace: quick absorption shows up as low DOM, slow absorption as high DOM. It is one of the first numbers agents check when sizing up a market.
For sellers, DOM is the scoreboard of pricing and presentation. Homes priced and presented in line with the market go under contract quickly, while overpriced or poorly shown homes accumulate DOM, and each week of accumulation makes the next offer harder, because buyers read time on market as a signal.
For buyers, DOM is leverage. A home sitting for many more days than its neighbors suggests room to negotiate and a seller who may be ready to deal. A home under contract in a week tells you competition is real and an offer needs to be strong from the start.
Read DOM with context: season, price point, and condition. An upper tier home naturally takes longer than an entry level home, and the quiet months run slower than the busy ones no matter what. Compare the number to what is normal for your market at that time.
A note from Steve: market conditions change every month, and numbers quoted anywhere can go stale quickly. The guidance on this page is meant to stay true across markets. For the latest Southern Nevada figures, check the Market Updates page or ask me directly, and I will read the current data through your situation.
Go a little deeper
Frequently asked
Questions people often follow up on
What is a good days on market number?
It depends on the segment and the season. The useful benchmark is your neighbors: the average DOM for homes like yours, in your area, recently. Any home significantly above that average is telling you something about its pricing or condition.
Does days on market reset and why does it matter?
Some listings are relisted or updated and the counter restarts, which hides true time on market. That is why agents look at cumulative DOM and the full listing history, because a home that shows ten days but has months of history is telling a different story.
The Lockhart Method
The Lockhart Method
Your Home | My Strategy | Proven Results
My strategy: for sellers, we price so that DOM stays short, because momentum sells homes. For buyers, we read DOM as leverage, identifying where time is a negotiating ally. Either way, the number shapes the play.
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