Days on Market (DOM) is the time from original listing until closed sale, including the time in escrow. Through the end of February, the Average DOM increased by 0.9% to 107 days. By comparison, the Average DOM per month for 2018-2019 was 86 days. Last year at this time, Days on Market was 62.1% lower than today, at 66 days. So far through March 23rd, the Average DOM for March 2023 is at 100 days. The speed of our market continues to represent some challenges for buyers, but should not deter anyone looking to purchase a home. As more homes come into the market, the Average DOM getting back to a normal timeline presents a good opportunity to buyers who were not able to purchase at the height of competition during the past few years.
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