Days on Market (DOM)

Days on market is the number of days a property has been advertised for sale before going under contract. At a broader level, agents and analysts also track the average days on market for all properties in a suburb or price bracket. Shorter days on market typically indicate stronger demand and a quicker selling environment, while longer days on market suggest slower conditions or unrealistic pricing. This metric matters because it affects your expectations as a seller and your strategy as a buyer.

From a seller’s perspective, understanding typical days on market helps you plan your campaign, finances and next move. If the local average is 30 days and your property has been listed for 90 days, it can be a signal that something needs to change, such as price, presentation or marketing. For buyers, a property with a long days on market figure may present an opportunity to negotiate harder, especially if the seller is becoming fatigued. Conversely, very low days on market can mean you must move quickly and present strong offers to compete.

Practical Example

You list your home with an asking price slightly above recent comparable sales. After three weeks with low enquiry and limited inspection numbers, the days on market metric starts to increase, signalling stagnation. Your agent reviews buyer feedback and recommends a small price adjustment combined with improved marketing photos. Once updated, the listing sees a noticeable increase in interest and two buyers request contracts. One submits a competitive offer in the fifth week. By acting early to prevent the property from sitting too long on the market, your agent helps secure a strong, timely sale.