It's a seller's market where I live, and the values from the DOM are many.
- 1 Setting the sales price based on the how many DOM the property was listed at the price it sold. The days before that mean nothing, other than it was the wrong price. In this instance, DOM helps the seller find the correct price to list the house at.
- 2 If it's a buyers market, and you're a buyer, you can use the DOM to help you set your offer. The longer the DOM, the more open to negotiation the seller will be.
- 3 In a seller's market, as a buyer, you know when to make your offer based on the number of, the frequency of, and the dollar amount of each price drop.
- 4 If the DOM includes a number of Pendings that were re-listed, it tells you a number of things...not the least of which is at some point, the seller is going to give in.
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