Wednesday, September 06, 2006

Our MLS system had a change made to it recently. Previous it displayed Days on Market (DOM) for a listing. DOM was a quick way to tell how "fresh" a listing was. The problem with DOM was that some agents would cancel a listing, then relist it to start DOM from zero again. With homes staying on the market longer and longer these days, more of these shenanigans were bound to take place.

So, now DOM has been replaced with CDOM standing for Cumulative Days on Market. If a property has been listed within the past 60 days, it adds the DOM from the prior listing period.

For example, a home in Arroyo Grande was on the market last year with one Broker. After 180+ days, they changed Realtors and Brokerages. Another 120+ days and the listing expired again. Then, the home was relisted with the original Brokerage again. Before the change, this listing showed DOM=2, which reflected how long it was on the market with the new Brokerage. But now it says CDOM=315. CDOM paints a much more accurate picture for a listing.