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Days on Market PDF Print E-mail

Simply put, "Days-on-Market" tells you how long the active properties currently for sale, in aggregate, have been on the market (a.k.a. "time on market"). Said otherwise- "of the active listings currently available for sale - how long have they been for sale?"

Compare this to "Time to sale" which is used to describe only those selected properties that sold and is a statistically different measurement. "Time to sale" only looks at those properties that sold vs "time on market" which looks at all active listings as defined above.

Most importantly, while the values of the Altos Research "days on market" and the "time to sale" may not match, you'll find that these numbers are closely correlated. Both values will rise in weaker markets and fall in stronger markets.

Finally, you can compare "Average Days-on-Market" to "Median Days-on-Market". It is common for the "Average Days-on-Market" to be much higher than the "Median Days-on-Market." If that is the case in your area, it means that new properties getting listed are selling faster than properties that have been on the market for a while.

Source:  Altos Research

 
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