Understanding Days on Market
Although the market has witnessed a very sizable increase in housing prices, the properties “Days on the market (DOM)” metric has concurrently gone down considerably, much to the delight of the homeowners and the buyers. The Contra Costa DOM has gone down from a high of nearly 200 in January this year to a low of nearly 50 as at the end of April. The Danville housing market DOM likewise has gone down from a high of near 90 to a low of about 20, please see charts below. The sellers are happy to to see that their houses are not sitting on the market for a long time, while the buyers are equally happy to move into their property of choice quickly. If you are thinking of buying or selling your property, now is the time to move for a quick transaction.
