Days on market (often abbreviated as DOM) is the number of days a property is publicly listed for sale before a contract is signed. It is one of the most revealing metrics in real estate, telling buyers and sellers alike whether a property is attracting genuine competition or quietly gathering dust.

Understanding days on market helps you negotiate smarter, time your purchase better, and read local conditions with confidence. Whether you are a first-home buyer, an investor, or a seasoned upgrader, this single number carries a surprising amount of intelligence about a property and the suburb around it.

What Does Days on Market Actually Mean?

At its simplest, days on market counts the calendar days from the date a property is first advertised on a public portal (realestate.com.au or Domain, for example) to the date the vendor accepts an offer and the property is marked under contract. Some agencies reset the clock if a property is withdrawn and relisted, which is worth watching for when you are researching.

How Is DOM Calculated?

1. List date: the first day the property appears publicly.
2. Contract date: the day both parties agree on price and terms.
3. DOM = Contract date minus List date.

A property listed on 1 June and going under contract on 15 June has a DOM of 14 days. That figure is then rolled into suburb-level averages reported by CoreLogic, SQM Research, REIWA, and other data providers.

Median vs Average DOM

You will see both terms used. Median DOM is the midpoint figure and is less distorted by outliers (one property sitting unsold for 300 days does not skew it wildly). Average DOM includes every result, so a handful of slow sellers can inflate it. When comparing suburbs, median DOM is generally the more useful figure.

What Does a Low Days on Market Signal to Buyers?

A low DOM tells buyers that competition is fierce and vendor leverage is high. When properties are selling in under two weeks, buyers typically need to move fast, make clean offers, and accept that extended due-diligence periods may cost them the deal.

Perth is a standout example right now. According to Herron Todd White’s March 2026 review, the Perth market is recording a median time on market of just 9 days, against a backdrop of only 2,205 properties listed for sale at the time of review. A balanced Perth market would normally carry 12,000 to 14,000 listings. With supply this thin and Western Australia recording the highest population growth of any capital at 2.2% per annum (adding roughly 65,584 residents each year, around 62% from overseas), buyer demand is not easing. Perth’s median house price has risen approximately 79% since 2020 to reach $860,000 (REIWA data). In markets moving this quickly, a DOM of 9 days is not an anomaly, it is the norm.

For buyers in tight markets, off-market properties in Melbourne and similar exclusive pre-market opportunities can be a way to sidestep the DOM race entirely, accessing homes before they ever appear on a portal and face that competitive clock.

Key Signals of a Low DOM Market

• Multiple offers on the same property within days of listing
• Properties selling at or above the listed guide price
• Inspection queues with dozens of groups on opening weekend
• Unconditional offers becoming more common

What Does a High Days on Market Signal to Buyers?

A high DOM is equally informative, but in the opposite direction. It signals that buyer demand is soft, that the vendor may have overpriced the property, or that the home has a feature (location, condition, or floor plan) that is reducing its appeal. For buyers, an elevated DOM is often an invitation to negotiate.

Herron Todd White’s March 2026 national review described the Melbourne and surrounds market sitting just below a balanced index reading of 45, with commentary noting a “measured, balanced environment gradually tilting in favour of buyers.” Purchasers in this environment are considered and will not be rushed. Critically, the review noted that vendors with unrealistic price expectations are experiencing longer days on market as transactions fail to follow through. The added uncertainty of the Victorian state election has contributed to buyer caution.

A property sitting on the market for 60, 90, or 120-plus days sends a clear message: either the price is wrong, or something else is deterring buyers. Savvy purchasers use this information to open a negotiation that a fresh listing would never invite.

Questions to Ask When DOM Is High

• Has the vendor already reduced the asking price once or more?
• Was the property withdrawn and relisted (resetting the DOM counter)?
• Are there comparable properties in the street that sold faster?
• What is the suburb’s median DOM compared to this listing?

Understanding these dynamics connects directly to the broader rhythms of the property cycle. Our guide to property market cycles explained unpacks how boom, correction, and recovery phases each produce very different DOM figures, and how to position yourself accordingly.

How Does Days on Market Vary by Property Type and Price Point?

DOM is not uniform across price bands or property types. Entry-level and mid-market properties consistently sell faster than prestige homes, simply because the pool of qualified buyers is larger.

In South Australia and regional markets, Herron Todd White’s February 2026 review noted that well-presented and appropriately priced properties continue to generate strong demand, with local and interstate buyers seeing value relative to other major capitals. As evidence, 18 Hillside Road, Springfield sold for $9,325,000 on 30 December 2025 after just 14 days on market, a remarkable result for a prestige holding of 2,710 sqm with a pool and tennis court. That outcome reflects a property positioned correctly and presented impeccably.

At the prestige end of the Melbourne market, Herron Todd White’s March 2026 data highlighted that Mornington Peninsula holiday homes continue to transact as owners liquidate or redirect capital. A standout result was 2A Como Avenue, South Yarra, which sold for $11.55 million in December 2025, a circa-2012 four-level home with five bedrooms and five bathrooms. Even at this price point, a well-prepared prestige home can achieve a competitive DOM when it is priced to reflect genuine market evidence.

DOM Benchmarks by Segment (General Guide)

• Under $600K (metro fringe and regional): Often 10 to 25 days in a rising market
• Mid-market ($600K to $1.5M): Typically 20 to 45 days in a balanced market
• Prestige ($2M+): Can range from 14 days to 120-plus days depending on presentation and pricing

Sub-$600,000 properties in Perth’s south-eastern corridor (Armadale, Maddington, Gosnells) have been achieving substantial capital growth with very short DOM, according to Herron Todd White’s March 2026 WA review. The combination of affordability, population-driven demand, and thin supply creates the conditions for near-instant absorption.

How Can Buyers Use Days on Market to Negotiate Better Deals?

DOM is one of the few objective pieces of data a buyer can use at the negotiation table. Here is a practical framework:

1. Research the suburb median DOM first. CoreLogic and SQM Research publish suburb-level DOM data. If the suburb median is 22 days and the property you want has been listed for 55 days, you have context for a lower opening offer.
2. Ask the agent directly. A good agent will be transparent. The answer, combined with the listed DOM, tells you whether price reductions are already baked in or still available.
3. Check for relistings. Search the address on property portals and look at the listing history. A property listed in August, withdrawn in October, and relisted in November may show a “fresh” DOM that conceals five months of market exposure.
4. Factor in market conditions. A 40-day DOM in a hot market is very different from a 40-day DOM in a soft one. Always benchmark against current conditions, not historical norms.
5. Consider off-market opportunities. If DOM competition is frustrating, accessing properties before they list publicly eliminates the metric entirely. Our off market property guide for Australia explains how to find, assess, and buy off-market with confidence.

For buyers who want to completely bypass the public listing process and the scrutiny that comes with a high DOM, off-market properties in Alphington represent the kind of exclusive opportunity that never even generates a DOM figure. There is no clock, no open-home queue, and no negotiation played out in public.

What Is a “Good” Days on Market Figure for Sellers?

For vendors, a low DOM is almost always desirable. A property that sells quickly signals to the market that it was priced correctly and presented well. A long DOM, by contrast, erodes perceived value: buyers begin to wonder what is wrong with it, even when the answer is simply an overambitious initial price guide.

Agents who have deep local knowledge will price a property to generate early momentum. The first two weeks of a campaign attract the most engaged buyers. If a property does not receive strong interest in that window, the DOM clock starts working against the vendor. A price reduction can refresh interest, but the original DOM figure follows the property through to settlement and appears in suburb data indefinitely.

For sellers, the lesson is straightforward: accurate pricing from day one produces the shortest DOM and, counterintuitively, often the highest final sale price. Buyers competing early in a campaign are less likely to negotiate aggressively than buyers who arrive at a property that has already been on the market for two months.

Conclusion

Days on market is far more than an administrative figure. It is a real-time signal of supply and demand, vendor motivation, and pricing accuracy. In ultra-competitive markets like Perth, where properties are changing hands in a median of just 9 days, buyers need speed and preparation. In more measured environments like Melbourne, where Herron Todd White’s March 2026 review described conditions tilting gradually toward buyers, DOM gives purchasers the evidence they need to negotiate from a position of knowledge. Whether you are buying, selling, or simply monitoring the market, tracking days on market alongside median prices and vacancy rates will give you a far sharper picture of where any suburb truly sits in the cycle.