What That Heck Does That Mean?
One of the most confusing forms to read is a MLS printout. I typically go right to the pictures.
If you can find it, one of the most important items to search for on the form is how many days the home has been active on the market. When negotiating… things change quite a bit when a home has only been on the market 2 days compared to 173 days. The seller may be feeling a little more desperate to dump the property.
In our local MLS you will many times see the DAYS ON MARKET represented two ways… DOM-MLS and DOM-PROP. What the heck?
Well, because some homes don’t sell the first time around for whatever the reason may be… and if the home has been re-listed again within the last few months, the total amount of days including the current time on market, will be included in the DOM-PROP representation (that was a long sentence-sorry). The DOM-MLS is how many days the home has currently been on the market.
Simply put…
DOM-MLS: Current time the home has been actively for sale with the current broker.
DOM-PROP: The cumulative time the home has been on the market PLUS any days that it was active if listed in the previous 90 days.
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I’m currently looking at this house and the data shows: DOM-prop:12 DOM-mls:337.
What does that mean?
Hey Paul… The DOM MLS means that the home has been for sale for 337 days all together. It could have been taken off of the market for a short time and then re-listed. Therefore, the time frame that it has currently been listed is 12 days.