This regularly-scheduled sponsored Q&A column is written by Adam Gallegos of Arlington-based real estate firm Arbour Realty, voted one of Arlington Magazine’s Best Realtors of 2013 & 2014. Please submit your questions via email.
Q. One of the criteria we have been using in evaluating homes on the market is the number of days they have been listed. What’s puzzling is that we are finding that the numbers vary from one resource to the next. Zillow, Redfin and the listing updates our realtor provides are all different.
A. The primary source of this data is the Multiple Listing Service (MLS). When your Realtor sends you updates, you may notice that days-on-market is provided in two different formats within the MLS listings. There is “DOM-MLS” and “DOM-Prop.”
DOM-MLS is the amount of time the current listing has been active. DOM-Prop is the amount of time the current property has been actively listed. It takes 90 days for a property’s DOM-Prop to reset back to zero. With that in mind here is an example:
Agent 1 has a home listed for 50 days. The sellers decide to take it off the market for a couple of weeks and re-list it with Agent 2. Agent 2 is able to find a buyer and it goes under contract in 25 days. In this example, the DOM-Prop is 75 and the DOM-MLS is 25 days.
It usually matters more to me how long the property has been listed (DOM-Prop) than how long it has been listed most recently (DOM-MLS).
The discrepancy I have found with some of the real estate websites is that they count days-on-market even if the property is not actively listed. Sometimes I will have a property in an alternative status like “temp off.” The MLS does not count days-on-market while in temp off, but some of the real estate sites do.
Our local MLS just created a new status called “coming soon.” It will be interesting to see which real estate websites count the days in “coming soon” as days-on-market.
In summary, the count of DOM-Prop in the MLS is the most accurate and valuable indication of how long a home has actually been on the market.
The views and opinions expressed in the column are those of the author and do not necessarily reflect the views of ARLnow.com.
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The Arlington-Aachen High School exchange is returning this summer and currently accepting applicants.
The sister-city partnership started in 1993 by the Arlington Sister Cities Association, which seeks to promote Arlington’s international profile through a variety of exchanges in education, commerce, culture and the arts. The exchange, scheduled June 17th to July 4th, includes a two-week homestay in Aachen plus three days in Berlin. Knowledge of the German language is not required for the trip.
Former participants have this to say:
_”The Aachen exchange was an eye-opening experience where I was fully immersed in the life of a German student. I loved biking through the countryside to Belgium, having gelato and picnics in the town square, and hanging out with my German host student’s friends. My first time out of the country, the Aachen exchange taught me to keep an open mind, because you never know what could be a life changing experience.” – Kelly M._
Learn about the new assessment of Arlington’s urban tree canopy and the many ecological and social benefits trees provide. Staff from the Green Infrastructure Center (GIC) will share study results and compare canopy cover for different areas of Arlington.The webinar will include assessments of ecosystem services such as stormwater mitigation, air quality, carbon uptake, and urban heat islands. For background on Arlington trees see the “Tree Benefits: Growing Arlington’s Urban Forest” presentation at http://www.gicinc.org/PDFs/Presentation_TreeBenefits_Arlington.pdf.
Please register in advance to assure your place at the webinar, https://attendee.gotowebinar.com/register/29543206508863839.
About the Arlington County Civic Federation: The Arlington County Civic Federation (“ACCF”) is a not-for-profit corporation which provides a forum for civic groups to discuss, debate, inform, advocate and provide oversight on important community issues, on a non-partisan basis. Its members include over ninety civic groups representing a broad cross-section of the community. Communications, resolutions and feedback are regularly provided to the Arlington County Government.
The next meeting is on Tuesday, February 21,2023 at 7 pm. This meeting is open to the public and will be hybrid, in-person and virtually through Zoom. Part of the agenda will be a discussion and vote on a resolution “To Restore Public Confidence in Arlington County’s Governance”. For more information on ACCF and this meeting, go to https://www.civfed.org/.
Valentine gifts for someone special or for yourself are here at George Mason University from noon -4pm on February 14, 2023. Satisfy your sweet tooth with Kingsbury Chocolates, find a handmade bag from Karina Gaull, pick up treats from Village