What is CDOM?

Definition:  CDOM means Cumulative Days on Market.

• The CDOM count represents the total number of days the property has been listed in HiCentral MLS.
• This data field is not syndicated to public sites, and it is visible within the MLS system only.
• Re-listing a property under the same agent/firm or a new agent/firm has no bearing on the CDOM.
• Example:
  • A listing is cancelled on June 1. The first day off the market will begin on June 2. After being off the market for 60 days, the listing should go live on the 61st day to reset the CDOM. For this example, with June 2 included as the first day off the market, July 31 would be the 60th day (the end date of July 31 is calculated in the count), and August 1 would be considered the 61st day.
  • Here is a bulleted timeline of the example: 
    • • Listing is cancelled on June 1 
      • First day off market starts the following day on June 2
      • The 60th day off market is July 31 
      • The CDOM would reset on the 61st day if the listing goes into Active status, which would be August 1
  • Note: If you are unsure of the exact number of days, it is recommended to use a date calculation tool. Please ensure to include the end date in the calculation. 

Examples of how the CDOM for a listing is calculated:

Scenario 1 – Property has been off the market for 60 days & under as expired / cancelled:

Listing 1 had a DOM of 180 days before it expired. The same property was re-listed 45 days later as Listing 2.

Based on the 60 Day rule, the CDOM for listing 2 would be 180 days (this will be the count only if the DOM* is 0).

Scenario 2 – Property has been off the market for over 60 days as expired / cancelled:

Listing 1 had a DOM of 80 Days before it expired. The same Property was re-listed 90 days later as Listing 2.

Based on the 60 Day rule, the CDOM for Listing 2 would be 0 days (this will be the count only if the DOM* is also 0).

Scenario 3 – Property has been Sold:

Listing 1 had a DOM of 30 Days when it was sold. The same property was re-listed 20 days later as Listing 2.

Based on the Sold rule, the CDOM would be 0 days (this will be the count only if the DOM* is also 0).

*DOM calculation is based on the Listing Date in the MLS.

Context

This rule is meant to give the Realtor, and therefore potential buyers, a more accurate picture of the total amount of time a property has been on the market. In determining the parameters for this proposed rule, the Board looked at the best practices of a number of other Boards as well as Zillow's. Zillow expressly counts the days on market regardless of who has the listing - see "Methodology" here:

www.zillow.com/research/zillow-days-on-market-5777/

Since CDOM will be available only in the MLS or through a Realtor, this proposed rule change supports the Realtor as the local property expert.