Real estate 101 - PDOM vs. LDOM terms

Ever wonder about those numbers you see alongside property listings? If you've been exploring the real estate market, you might come across terms like Property Days on Market (PDOM) and Listing Days on Market (LDOM). Don't worry if they sound a bit confusing at first – we're here to clear things up for you!

These nifty little metrics give you insights into how long properties are hanging around on the market before someone snatches them up.

What's the difference between the two? Well, it's all about the viewpoint they offer. PDOM focuses on individual properties, telling you how many days a specific house or condo is up for grabs. On the flip side, LDOM takes a wider view, adding up the total number of days properties are listed, including any relistings.

So, why does it matter? Understanding PDOM helps you determine the attractiveness of a particular property – a shorter PDOM often means high demand or a well-priced gem. While, LDOM gives you a bigger picture of market activity, showing you how long properties in general are sticking around before finding their new owners.

Now that you're armed with this knowledge, you'll be a savvy real estate explorer in no time! Keep an eye out for those PDOM and LDOM numbers next time you're browsing listings, and you'll have a better grasp of what's happening in the ever-exciting world of real estate. Happy house hunting! More real estate terms

(Source: TRREB)