Days on market measures how long a listing has been active in the MLS from the date it was listed until it goes under contract or sells. It is a key indicator of demand and how well a property is priced relative to the market.
A low DOM generally signals strong demand or aggressive pricing, while a high DOM can suggest the home is overpriced, poorly marketed, or has condition issues. Buyers often view long-sitting listings as opportunities to negotiate.
Calculation rules vary by MLS, and a canceled and relisted property may reset its DOM count, which some sellers use to refresh a stale listing. Average DOM across an area is also a useful gauge of overall market speed.