What is "Days on Market" (DOM)?
DOM refers to Days on Market. It is a common metric used by multifamily companies to understand leasing velocity and potential vacancy
What is Days on Market (DOM) and why is it important?
Days on market refers to the number of days a unit stays on the market for. It is a Market Demand Indicator
- A low DOM suggests strong demand: units are being absorbed quickly, indicating a competitive market and possibly rising rents
- A high DOM can signal weaker demand: overpricing, or underlying property/location issues
Where can I find the DOM metric?
- Under Project tab, select the project you are studying
- Under Project Report tab, select Overview
- Scroll down to Leasing Overview
- Avg DOM (Active Units): Tells you how long units have been on the market for
- Avg DOM (Leased Units): Tells you how long units take to go off market
- No. of Units > 45 DOM: Tells you the number of "stale" units at each property
