Days on Market (DOM), Cumulative Days on Market (CDOM)
Canopy MLS provides Days on Market (DOM), and Cumulative Days on Market (CDOM) to give a comprehensive representation of the life of a listing, and to provide metrics that compare to real estate websites that display “days on site” metrics that include “off-market” time.
DOM and CDOM values in a listing record in MLS Grid are current up to the ModificationTimestamp. MLS Grid is a replicated database that does not relay daily computed values from individual participating MLS systems.
DOM and CDOM accrue from the date entered in the Listing Contract Date field, which can be either the Effective Date or Delayed Marketing Date as each term is defined in the listing agreement, or the beginning date of the term of the listing.
CDOM tracks the days on market for a property over multiple listings of the property and appears on every listing in the MLS system (except for Rentals) where the DOM field appears. When a new listing is entered, CDOM will only reset to zero if the previous listing closed or has been off market (expired or withdrawn) for more than 90 days.
DOM and CDOM accrue for Active status. DOM and CDOM do not accrue when the listing is in the following statuses:
- Coming Soon-No Show
- Under Contract-Show
- Under Contract-No Show
- Application Received
- Temporarily off Market
CDOM will reset to zero when a property is relisted if the previous listing was changed to Temporarily off Market at least 90 days in the past, and was then changed to Expired or Withdrawn status.
When a listing enters Temporarily off Market, Expired, Withdrawn, or Closed status, Matrix sets the Off Market Date to be the date the listing entered that status. If a listing switches from one of those statuses directly to another, the original off market date is retained (generally, this is a Temporarily off Market listing changing to Withdrawn or Expired). If a listing is changed to a different status than one of these four, the off market date is erased, meaning a return to the status requires a new date be entered.
Both the DOM and CDOM fields are provided in Internet Data Exchange (IDX) and Virtual Office Website (VOW) and are permitted for display on brokerage websites, and they are provided in third-party data feeds such as ListHub.
DOM and CDOM numbers reported in MLD Grid data for Canopy MLS are accurate as of the Modified Date timestamp. They are not computed/updated on a daily basis unlike the legacy feed from RETS server.
Example: A listing is active for 90 days and expires. Six days later a new listing agent gets the listing and inputs a new listing. The status is changed to UCS status 48 days later. Fifteen days later the status is changed to UCNS status. Seven days later it closes. What number of days will be displayed?
For vendors, here are the statuses you may see in the payload:
- [Matrix field name = RESO field name] [MlgCanView]
- Coming Soon = Coming Soon [true]
- Active = Active [true]
- Under Contract-Show = Active Under Contract [true]
- Under Contract-No Show = Pending [true]
- Closed = Closed [true]
- Expired = (not available) [false]
- Temporarily Off Market = (not available) [false]
- Withdrawn = (not available) [false]