Marketing Time or Days on Market (DOM)
Still watching the market indicators in Clark County Washington, I selected several MLS areas to look at. I looked at the summer of 2006, the summer of 2007 and current listings as of today’s date. Following is the chart of the data. (marketing time days on market)
DAYS ON MARKET
| MLS District | Summer 2006 | Summer 2007 | Current Listings |
| Heights (12) | 33 | 71 | 114 |
| Lincoln (14) | 45 | 49 | 94 |
| Minnehaha (15) | 64 | 80 | 113 |
| Fishers Lndg (24) | 50 | 51 | 114 |
| Hazel Dell (41) | 42 | 77 | 122 |
| Salmon Crk (43) | 49 | 68 | 130 |
| W.S.U. (44) | 48 | 62 | 146 |
| Average | 47 | 62 | 119 |
You can see how the effect of the changes in the market have altered the numbers. Every area of the local market that is included here has shown the same effect. Days on Market went up 38% on average over the summer 2006 to summer 2007 time frame. Then they jumped 83% from the summer of 2007 to now (per current listing data). It should be noted that the Current Listing data is for houses on the market that have not yet sold. That number (119 Average) will be higher unless they all sell today.
I’ll keep watching and reporting these statistics during the coming months.
Ralph K. Olsen, Appraiser
pwas.net
Popularity: 25% [?]