Days on Market (DOM): The Pitfall of Magic Numbers
Talking with an real estate agent yesterday writing an offer on a property for our customer, he said “The house has been on for 109 days, I think they are ready to sell…” Homes have been on the market for a little longer than usual, but this specific home is a decently priced starter home, a little small, but no real reason for it to still be on the market 3 1/2 months later.  I found this cool post right on the topic of Days on Market today and thought it would be a good post.
While days on market can be a good indicator, it is not a fool proof one. Both great agents and less scrupulous agents can manipulate the system to make a property look fresh when it really isn’t.
Check out this great posting on Silicon Valley Real Estate Blog.
