What Does “Days on Market” Mean?
Today I’m coming to you with a quick explanation of a term we throw around a lot in the real estate business: days on market. I’ll start off by clarifying that it’s not a measure of how long a property takes to close. In actuality, days on market is just how long a property sits on the market before an offer is accepted. We like to track the average days on market in our area because it provides us with a sense of how fast the market as a whole is moving. To learn more about days on market, watch this short video.