Homebuyers

Buying or Selling a Home? Why Understanding “Days on Market” Is Key

The real estate world can offer up more than a few head-scratching terms: escrow, rent back, and short sale to name a few. Yet few metrics tell a clearer story than “days on market” (DOM).

At first glance, this may appear to be a number tucked alongside a home’s listing. Look closer, though, and DOM reveals real insight to the market—and hints at what kind of deal you might be able to strike as a buyer or a seller.

Days on market tracks the number of calendar days a property has been listed for sale before going under contract.

Nationally, homes spent a median of 53 days on market in March, according to Realtor.com data. However, that number varies wildly depending on the location, price point, and type of property.

The number of days homes spend on the market in your market may provide a key reality check. When homes sell very quickly, it means you’re in a seller’s market and may need to consider offering over the asking price.

However, when homes linger on the market for a while, buyers may be able to get sellers to come down on the price.

Here’s what else you need to know about DOM.

What is “days on market,” exactly?

Days on market is just what it sounds like. The clock starts ticking from the moment a home hits the Multiple Listing Service (MLS) and goes online and stops once the seller accepts an offer.

Understanding local average DOMs is essential. In high-demand markets, a home that lingers more than 45 days is often considered “stale.” In slower markets, 90 to 120 days might still be reasonable.

For instance, urban condos in hot metros may fly off the shelf in under three weeks. Larger suburban homes—especially those in need of upgrades—may sit longer.

Why days on market matters for sellers

For sellers, days on market is the closest thing to a market report card. A low DOM often acts like a badge of honor. This generally means a home is priced right, marketed well, and is snapped up by eager buyers.

It’s also generally an indication that there aren’t many other homes for sale at a similar price point.

A lengthy DOM, on the other hand, raises red flags. A home sitting unsold past the local average starts to carry a stigma, fairly or unfairly. Prospective buyers may assume something must be wrong: Is it overpriced? Is it poorly maintained? Is it next door to a 24-hour gas station?

For some sellers, the longer a home sits, the less leverage they have. After 30 to 45 days without serious interest, many agents advise price reductions or strategic incentives (like offering to cover closing costs or throwing in home warranties) to reignite buyer attention.

Why days on market matters for buyers

A newly listed home with low DOM signals urgency. If a property is new and priced well, buyers may need to act quickly. They may even come in with their best and last offer right away.

On the flip side, a home languishing with a high DOM may offer an opportunity to negotiate.

“A property that has been listed for what is considered a long time in the specified area could invite the potential of submitting a lower offer price, because the seller might be more motivated to sell the property,” said Jason Gelios, a real estate agent with Community Choice Realty in Southeast Michigan.

In some cases, simply asking, “Why has this been on the market so long?" can reveal valuable clues. Maybe the seller is relocating for work and needs to move soon, or the home failed inspection with a previous buyer.

Yet high DOM doesn’t always mean a bargain is in the making. Some homes may simply be niche properties requiring a specific kind of buyer, especially pricier, luxury properties. In these cases, longer market times are normal, not an automatic red flag.

How sellers can keep DOM low

Pricing strategically is the first and most important step. Overpricing—even by 5%—can turn the first crucial weeks of a sale into a silent standoff.

Buyers often have endless listing alerts set up on their phones. If a home is overpriced at launch, it can miss the critical window when it’s freshest and most appealing.

“If the market is talking to you and days are adding up, then it might be time to make a price adjustment,” said Jeff Lichtenstein, CEO and broker at Echo Fine Properties in Delray Beach, Fla. “Price, however isn’t the only factor.”

Staging and marketing matter, too. Professional photos, interesting listing descriptions, and even virtual tours can make a home stand out. Sellers should aim to capture attention early and give buyers a reason to book a showing.

Sellers who can accommodate last-minute showings, offer quick possession dates, and remain responsive to feedback keep the momentum going, helping keep a DOM number low.

How buyers can use DOM strategically

Savvy buyers often filter searches by DOM, looking for homes that have been listed for 30, 60, or even 90 days. These properties might not scream “perfect” on the first glance, but with a fresh eye they can uncover hidden value.

For example, a home stuck on the market because of outdated carpet and dark paint can often be refreshed with modest cosmetic upgrades.

Meanwhile, serious structural issues like foundation cracks or a roof on its last legs might explain high DOM—but can also provide a basis for steep negotiations or seller concessions.

Buyers should also watch for relisted properties.

Sometimes, a home is taken off the market and re-listed to reset the DOM clock. By checking the home’s sales history, buyers can spot these resets and better understand how long the property has truly been for sale.

Just be aware that a high DOM doesn’t automatically equal a desperate seller. Sometimes, yes—but just as often, a seller may simply have very specific needs (a leaseback period, a firm minimum price) that extend the listing timeline.

Negotiating too aggressively based on DOM alone can backfire if a seller is not truly in a hurry to move.