In an effort to more accurately reflect market time of new construction listings, the Northwest MLS is implementing a new method for calculating Days on Market (DOM) and Cumulative Days on Market (CDOM). Now, DOM and CDOM will automatically reset to zero when the “New Construction State” field is changed from “Presale” or “Under Construction” to “Completed.” DOM/CDOM reset will only occur one time within a current active or contingent new construction listing.
This change is positive for our builder clients and comes several years after John L. Scott approached the NW MLS with this recommendation.
