Definition of Cumulative Days on Market:
Cumulative Days on Market/Orange County:
Cumulative days on market should not be confused with days on market. One of the first things a buyer asks about a listing is its days on market. Days on market matter. To determine the average days on market a BanCorp REALTOR® will take the last 30 days to six months of sold listings, add together the days on market (before each listing went pending) and divide that total by the number of listings. Cumulative days on market refers to the total days the home has been on the Orange County MLS, not just the current time on the MLS.
A common practice among some real estate agents is to withdraw a listing from the Orange County MLS after a certain number of days and relist it as a new listing. Agents relist to show zero days on market because they know that buyers gravitate toward new listings. BanCorp Real Estate Group stands against this practice because we feel it is misleading and does not accurately represent the number of days on market. After a home is on the market for 60 to 90 days, it is not unusual for it to sell within five days after coming back on the market as a new listing – but it is a deceiving practice.