Have you ever wondered what are DOM and CDOM and how do they work?
Days on Market (DOM) provides a look at how long the current listing has been actively marketed. It begins counting from the List Date which is your Listing Agreement Start Date on line 6, unless it is submitted to the MLS in Coming Soon status, then DOM is withheld until it changes to Active status. DOM is the time when buyers can view the listing online and make offers on the property. It starts and stops calculating, depending on the statuses you use throughout the life of your listing.
Cumulative Days on Market (CDOM) offers a more comprehensive view of how long the property has been actively marketed. It provides the sum of Days on Market for all listings associated with the same property, when the listing is expired or cancelled and relisted multiple times by any office, and when there are 90 days or less between the end of one listing and the start of another, regardless of listing firm. A listing must be completely off market (either Cancelled or Expired) for a minimum of 90 days to reset to zero.
HOW THEY CALCULATE
Days on Market (DOM) is calculated from the List Date as active. Remember, the List Date in the MLS is the Listing Start Date on line 6 in your Exclusive Listing Agreement.
DOM will not accrue while a listing is in Coming Soon status.
Cumulative Days on Market (CDOM) accumulates a little differently than DOM, because it combines the DOM for multiple listings of the same parcel.
CDOM resets for any newly-entered listing:
- If no previous listings for the property are present, or
- Immediately after the previous listing is Closed, or
- 91 days after the previous listing for a property was Cancelled or Expired and a new listing is entered, as long as no other listings for the same property have been created.
They do not reset in the other statuses, regardless of the days in those statuses.
You can view the DOM and CDOM of any listing by scrolling to the bottom of the 360 Property View or Agent Full report to view the listing details in the MCRTC Matrix MLS system.
CDOM does not print on any Client Report in MCRTC’s Matrix system. It is only visible on Agent reports. DOM can be found on the property page in OneHome.