New real estate data tweaks paint a more accurate picture of Toronto’s housing market
Days on Market (DOM) for home sales is missing key information. DOM is currently calculated as the amount of time a single listing lasted in the system before a sale was registered. It may be missing some of the accumulated days a property spent on the market from previous listings, terminations, price changes as part of a new listing and other activity. Properties that have had at least one list-terminate-relist cycle before selling have an average days on market substantially higher than properties that were never terminated and relisted.