Days On Market
The Days on Market (DOM) calculations are very important values that figure into market statistics. Listing Agents should learn how to calculate these correctly.
Listings accrue Cumulative Days On Market (CDOM) and Agent Days On Market (ADOM) while in either Active status or UCB status. When entering a new listing, DOM will begin at zero when more than 90 days have passed from the day the previous listing for that property was changed to Cancelled or Expired.
Changing a property into Temporarily Off Market (TOM) status stops the CDOM and the ADOM from accumulating while it remains in TOM status. However, the number of days the listing is in TOM status does NOT contribute towards the 90 days a listing must be off-market (from a previous Cancelled or Expired listing of the same property) in order to reset the CDOM and ADOM to zero (0).
If the criteria for resetting CDOM has not been met and a new Agent re-lists the property, ADOM will reset to zero, but the CDOM will be added to the new listing.
Learn more about Days on Market Calculations.
Listing Statuses in MLS
ARMLS’s commitment to data integrity extends to the correct status of listings in MLS. Listing status should be updated by the listing Agent during the term of the listing as the status changes. ARMLS Rules and Regulations allow the listing Agent to choose from seven separate statuses: Active, Under Contract-Backups (UCB), Temporarily Off Market (TOM), Expired, Cancelled, Pending and Closed.
Auction listings are permitted in MLS. While auction listings are required to follow the same rules as other listings, Listing Agents are cautioned to understand the special requirements associated with auctions.
Learn more about auctions and ARMLS Rules.