Day on Market

Interesting.  Thanks for the correction. 

Happy selling

We have the same corrupt information here in the Metro Detroit area.  It just makes my work harder.  Take a look at my post today about dollar sales.  The dollar sale epidemic is also messing up our average sales price statistics.  Our MLS has not figured out how to get around this.  I have to recalculate all the statistics to get the true sales average.  There has to be a better way! I feel for you!

Agreed. It really skews things when the three expired listings don't show as days on the market, or the many withdrawals, etc. Granted the current new agent should get credit for selling in 36 days instead of 548 days, but there should be an MLS field for total days listed as well as current days listed.

There is another side of the Withdrawn/Relisted issue:  Some realtors may wish to track their statistics so as to know how many days on market their property has seen at each price, as sellers agree to price improvements.  Although this can affect averages, to be certain, it can also help the individual realtor develop a better pricing strategy, and better understand the actual market trends.  Sometimes a withdraw/relist will also occur if the seller has completed a physical improvement that effects the marketability of the property (new roof, or carpets, for example)

Not all realtors will do this, but some do, and I can tell you that while some may do it just to have it appear that the property has been on the market for less than it appears, I like to think that there is a better reason than that for what appears to be a rather common practice.

I don't think any realtor worth their commission would be fooled into thinking that a property was "new" to the market simply based on the DOM statistic.  I know when I am looking at a property with a buyer, I will look at the public records for the property, and this will show me all the listing history of the property.  I will see right away if the property was withdrawn and relisted, and take this fact into consideration when presenting and negotiating an offer.  I like to think that checking this information is part of the due dillegence that all realtors give their clients.  Maybe I am wrong, but I hope not.