Days on Market (DOM), Cumulative Days on Market (CDOM) and List to Close
Canopy MLS provides “Days on Market” (“DOM”), “Cumulative Days on Market” (“CDOM”) and “List to Close” 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” 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will only reset to zero if the previous listing closed or has been off market (Temporarily off Market, Expired or Withdrawn) for more than 90 days. If relisted as a new listing with a new MLS number, the next listing’s CDOM will reset to zero if the TOM Date is greater than 90 days, even if the listing expired or was withdrawn more recently.
“List to Close” provides the total number of days specific to the MLS number from “Listing Contract Date” to “Closed Date.”
“DOM” and “CDOM” accrue for “Active” status. “DOM” and “CDOM” do not accrue when the listing is in "Coming Soon-No Show," “Under Contract-Show,” “Under Contract-No Show,” “Application Received,” "Temporarily off Market," “Closed,” “Expired” and “Withdrawn” statuses. If relisted, the next listing’s CDOM will reset to zero if the TOM Date is greater than 90 days, even if the listing expired or was withdrawn more recently.
All three fields “DOM,” “CDOM” and “List to Close” are provided in Internet Data Exchange (IDX) and permitted for display on brokerage websites, as well as provided in third-party data feeds such as List Hub.
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. Forty-eight days later the status is changed to “UCS” status. Fifteen days later the status is changed to “UCNS” status. Seven days later it closes. What number of days will be displayed?
Questions? Contact Debbie Wey, email@example.com or 704-940-3115.