Days on Market, often referred to as DOM, measures how many days a property is listed for sale before it sells. The count typically starts on the day the listing becomes active and ends when an accepted offer is in place.
For sellers, Days on Market is more than just a number. It is one of the most closely watched indicators of market performance and buyer demand in Greater Victoria.
Why Days on Market Matters to Sellers
Days on Market directly affects how buyers perceive your home. Properties that sell quickly are often seen as well-priced and desirable. Listings that remain on the market longer can raise questions, even if the home itself is well-maintained.
Buyers may assume:
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The price is too high
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The home has issues
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The seller may be more flexible
This perception can influence both the number of showings and the strength of offers received.
How Days on Market Impacts Pricing Strategy
Pricing and Days on Market are closely connected. Homes priced correctly for current market conditions tend to attract interest early, often within the first few weeks.
When a listing stays on the market longer than average, sellers may face:
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Fewer showings
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Lower offers
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Pressure to reduce the price
In contrast, a well-priced home that generates early activity can create urgency and stronger negotiating positions.
Average Days on Market in Greater Victoria
Days on Market can vary widely depending on location, property type, and market conditions. Single-family homes, condos, and townhomes often perform differently, and some neighbourhoods move faster than others.
For example:
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Entry-level homes often sell more quickly
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Well-priced homes in high-demand areas attract faster offers
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Unique or higher-priced properties may take longer
Understanding local averages is essential when setting expectations and strategy.
What Longer Days on Market Can Signal
A higher Days on Market number does not always mean a home will not sell. However, it can indicate a mismatch between price, condition, or buyer expectations.
Common reasons a listing lingers include:
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Pricing above market value
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Limited exposure or poor presentation
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Market shifts during the listing period
Addressing these factors early can help reset buyer interest.
How Sellers Can Reduce Days on Market
Sellers have more control over Days on Market than they may realize. Preparation and strategy play a key role.
Steps that often help reduce Days on Market include:
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Pricing based on current comparable sales
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Professional photography and marketing
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Proper staging and presentation
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Flexible showing availability
Working with an agent who understands neighbourhood-level data can make a meaningful difference.
Final Thoughts
Understanding Days on Market and why it matters allows sellers to make informed decisions and set realistic expectations. In Greater Victoria’s evolving real estate market, success is not just about selling, but about selling efficiently and at the right price.
A thoughtful pricing and marketing strategy, paired with local market insight, can help minimize Days on Market and maximize results.
Brandon Sharratt, 5-Star Review, via Google
“My wife and I sold our condo in View Royal and bought a place in Esquimalt with the help of The Faber Group. Scott helped us to find and buy the perfect home for our growing family in a very competitive market. He got to know our wants and needs and worked within our schedule with a small baby. Once we found the perfect place Scott helped us to get it for under the asking price and sold our condo in one day on the market with multiple offers over asking! We are so grateful that Scott helped us through this process, answering our many questions and alleviating our concerns. Thank you for helping us sell our first home and buy a beautiful house for our family.”
Faber Real Estate Group
Royal LePage Coast Capital Realty
📞 250-244-3430
📧scott@fabergroup.ca
ℹ️ Scott Faber Personal Real Estate Corporation
ℹ️ Cal Faber Personal Real Estate Corporation
Vanessa Wood & Zachary Parsons
“Building Lasting Relationships, One Home at a Time.”