Days on Market (DOM)
Average number of days a property listing is active before a sale or lease is agreed
What is Days on Market (DOM)?
Days on market is the average number of days properties are listed before they sell. It shows how quickly property is moving in a market.
It is a key measure for agents and sellers, since long listing times often lead to price reductions.
How this KPI is measured
- Function
- Sales
- Sub-function
- Listing Management
- Industry
- Real Estate
- Type
- Lagging
- Impact
- Efficiency
- Unit
- days
- Measurement frequency
- Monthly / Quarterly
- Formula
- Sum of days each sold property was listed / Number of properties sold
How to calculate it
Divide the total days each sold property was listed by the number of properties sold.
For example, if 10 properties sold after a combined 450 days on the market, the average is 45 days.
Separate by property type, price band and area, since averages differ widely.
Where it is used
Advising sellers
Set realistic expectations on timing.
Judging pricing
Long times can mean overpricing.
Tracking the market
See whether demand is rising or falling.
How to improve it
Tips and common mistakes
- Compare like with like by area and price.
- A very short time may mean underpricing.
- Track withdrawn listings too.
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