Knowing how long a house has been on the market can be helpful when negotiating price. If the house has been on the market for an extended period of time, the owners might be anxious to make a sale, especially if in a down market. In an up market, being on the market a long time might signal a poor appraisal or damage to the property.
- Skill level:
- Moderately Easy
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Ask a real estate agent in your area how long the house has been on the market. This is by far the easiest and most straightforward way to find out. The agent should provide with all the information you need.
Get access to a multiple listing service report. MLS reports, which most real estate agents subscribe to, provide a great deal of information, including the original date of listing. However, that date won't help if the house has been re-listed.
Look for the CDOM, which stands for "continuous days on market," or PMP, which stand for "property marketing period." This will tell you how many days have passed since the house was listed. If the house has been relisted, PMP will have been reset and might be misleading.
Ask the agent for the CDOM or PMP on both the old and the new listings. In this case, you will need to add the two numbers together. Make sure they don't overlap.
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