Tuesday, December 20, 2016

Current Average Days on the Market for Spring Hill, KS - Real Estate Stats

Current Average Days on the Market for Spring Hill, KS - Real Estate Stats 




Days on Market and Sold/List Price % Report


What is DOM?
  • DOM stands for days on the market, how long a property is on the market. It generally is between the day the property is listed and the day it becomes off market (for example, when it becomes pended).
Is Average DOM calculated based on sold listings?
  • Yes, it is. The Average DOM is the average of DOM of sold properties.
What is CDOM and how is it calculated?
  • CDOM stands for continuous days on the market and tracks consecutive listing periods.
  • While all MLSs are a little different, the generally accepted rule is that, if a property is re-listed within a 30 day period of it's previous expired, withdrawn, or canceled period, CDOM kicks in and tracks the aggregated listing time of the property. If the property is off the market for 30 days it resets the CDOM. CDOM is usually only measured for a maximum period of two years.
  • If you have questions about how CDOM is calculated in your region, please contact your primary support person for Trendgraphix or speak with a representative for your local MLS.

What Does Days on Market and Sold/List Price % Report Do?
  • This report shows the percentage of sold price / list price at which an equal number of properties are sold above, equal or below the list price.
  • It indicates how long it has taken to sell those properties.
  • The percentage of sold price / list price helps identify where the market activity is the strongest.
  • The days on market figure helps establish the minimum listing period.
  • It helps identify the best match for a buyer's price range.
How to Use Days on Market and Sold/List Price % Report?
  • If the percentage of sold price / list price is closer to 100 then there are more potential buyers available for the property.
  • If a property's listing period is less than the average days on the market, the listing will have a greater chance of expiring before it is sold.
  • Use this report with out-of-town or relocation buyers to assist then in making their investment decision.

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