Have you seen the letters CDOM in some real estate listing websites and wondered what it meant?
CDOM and DOM are two acronyms you will likely see when looking for a home to purchase.
These real estate terms are similar but have slightly different meanings. CDOM stands for cumulative days on market and DOM stands for days on market.
Let’s look at both CDOM and DOM so you understand the distinction between the two.
What Are Days on Market (DOM)?
Days on market or DOM for short is the number of days a property has been listed for sale in the multiple listing service.
Days on market start to accumulate when when a property is listed for sale until when the home is moved to pending status by the listing agent.
In many MLS systems, days on market will continue to grow when a home goes under contract and is put into contingent listing status. Not until the home is moving into pending will the days on market stop increasing.
Some of the common active listing statuses are active contingent and active kick-out. Buyers and sellers both should understand these distinctions.
It is something I have mentioned in the past when discussing pending vs. contingent listing statuses.
It’s an essential point to know because a homes days on market can become unnaturally inflated if the sale falls through and goes back on the market.
One of the more popular questions from home buyers is how long has the house been on the market. The lower the DOM the better.
What Are Cumulative Days on Market (CDOM)?
CDOM provides the number of days from when a property is first listed for sale to when it goes pending for the last time before being sold.
So, cumulative days on the market takes into account previous listings of a home. For example, if a home was listed for company A for 90 days and then relisted with company B, the original 90 days would be added to the listing history.
So, moving forward there will be 90 days tacked onto the days on market for the property.
In order for the CDOM to stop the property will need to be off the market for a certain amount of time. MLS systems across the country vary on how long a property has to be off the market before the CDOM is reset back to zero.
For example, in Massachusetts a house needs to be off the market for 60 days before the CDOM is reset to zero.
It is essential to note that cumulative days on market provides the total of days on market for all listing associated with the same home.
If the same property were to be listed with a third company the CDOM would include the time for sale with the two previous companies.
What’s The Difference Between DOM and CDOM?
In summary, the difference between DOM and CDOM is the time on market between of one listing period vs multiple listing periods.
CDOM is a more accurate measurement of how long a property has been listed for sale.
What Does ADOM Mean in Real Estate?
By now you may be wondering why there needs to be so many abbreviations in real estate. ADOM is yet another term associated with how long a property has been on the market.
ADOM stands for agent days on market. So, ADOM is the number of days a house has been listed for sale with a particular real estate agent.
Days on market for a property that has been listed with the same agent may be carried forward to a new listing, depending on MLS rules.
Multiple listing services do this to prevent agent’s from gaming the system by resetting days on market to zero. Doing so fools consumers and does not give an accurate representation of a property.
What Are The Benefits of Having a Lower CDOM?
When selling real estate there is a direct correlation between the time a home is on the market and what it sells for.
Properties with higher days on market lead to potential buyers offer a lower amount of money.
Home that are listed accurately from day one, often sell quicker and for more money. Higher DOM is a detriment to home sellers.
The importance of an accurate CMA in real estate comes into play so sellers price their property correctly.
There is a strong correlation between days on market and how much a house sells for.
Other Days on Market Abbreviations to Know
There are a few other days on market abbreviations it is possible you may see including LDOM and PDOM. LDOM stands for listing days on market which is essentially the same thing as DOM. PDOM stands for days on market since price change.
Summary of Days on Market Acronyms
- DOM = days on market
- CDOM = cumulative days on market
- ADOM = agent days on market
- PDOM = days on market since price change
- LDOM = listing days on market
Final Thoughts
The time a home has been listed for sale is an essential statistic that both buyers and sellers need to understand. There is a direct correlation between how long a home has been on the market vs. the final sale price.
The longer a home is listed for sale the greater chance the property will sell for less. By better understanding DOM and CDOM, you can make more informed real estate decisions.
You should now have a much better understanding of what CDOM, ADOM, and DOM mean in real estate.
About the Author: The above Real Estate information on the meaning of CDOM in real estate was provided by Bill Gassett, a Nationally recognized leader in his field. Bill can be reached via email at billgassett@remaxexec.com or by phone at 508-625-0191. Bill has helped people move in and out of many Metrowest towns for 35+ Years.
Are you thinking of selling your home? I have a passion for Real Estate and love to share my marketing expertise!
I service Real Estate Sales in the following Metrowest MA towns: Ashland, Bellingham, Douglas, Framingham, Franklin, Grafton, Holliston, Hopkinton, Hopedale, Medway, Mendon, Milford, Millbury, Millville, Northborough, Northbridge, Shrewsbury, Southborough, Sutton, Wayland, Westborough, Whitinsville, Worcester, Upton, and Uxbridge MA.
