What Does DOM Stand For?
As a long time Orange County Realtor we get asked this question from time to time “what does DOM stand for?” and the answer is simple. DOM stands for Days on Market; it’s also been called active days on market, time on market or market time but most important of all it’s a true “measurement” of the amount of time which a home has been for sale in Orange County or elsewhere in the United States.
The In’s And Outs of DOM
Did you know homes or properties which have a higher DOM will typically be properties some home buyers will submit lower offers on? Homes with a higher DOM sometimes turn out to be homes some buyers will consider to be overpriced or they have features which can be considered to be less than desirable.
Understanding DOM can be one way that you can “gauge” where the Real Estate market is really at in Orange County and enable you to come up with the right pricing strategy when you find one or more homes that you want to purchase.
Sometimes there are Realtors who will pull a home listing from the Real Estate market for any number of reasons. Many times it is so the DOM will reset and they can try to get the original price for the home. Other times the seller wanted to reconsider their decision to sell and had the listing pulled for a while.
CDOM stands for Cumulative Days on Market and this statistic will enable you to see in total how many days a home has really been listed on the Real Estate market from when it was first listed, pulled and then listed again.
For all of your Real Estate needs contact Fred Sed & Associates today by calling us at (949) 272-0125 for a free Real Estate consultation.
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