PDOM: A New Market Time Measure
How long has the property been at this price?
When viewing a listing, the time on market figures are often one of the first things we check. Days on Market tells the total days Active under the MLS number, while CDOM (cumulative) gives total market time. But what about when you want to know how long an Active listing has been at it’s current price, or how long a Sold listing (or other off market status) was at its final List Price before it sold (or expired/cancelled)? You would have to open the History pop-up and calculate it yourself. With our newly added data field PDOM, it’s now calculated for you.
PDOM is days on market at most recent list price. PDOM indicates:
- How long an Active property has been listed at its current price.
- How long a property was at it’s final list price before it sold. This can be especially helpful in showing sellers how quickly a comparable property sold once it was priced at the market level.
PDOM reflects activity for the current listing only. It does not look back at pricing history for the same property under different list numbers. For example, if a property is listed at $200,000 for 60 days, the listing is canceled and then re-listed again at $200,000, the PDOM starts over at 1 for the new listing. It does not add in the 60 days from the previous listing. However, you can quickly assess that by clicking the History link on the listing.
PDOM calculates nightly. If you make a price change, the PDOM will reset to 1 on the listing overnight.
You will find PDOM alongside the regular Days On Market and CDOM on all Property Full displays in Single Family, Multi-Family and Lots/Land. We are in the process of adding it to the remaining property types, PDF reports and Customer Portal Full displays. We expect those to be completed by end of week.
If you have any questions, contact the Help Desk at help@northstarmls.com or 651-251-5456 (1-877-251-5455 toll free outside the metro area).
