Recently, MRIS has received inquiries on how entering a listing in Coming Soon Status affects the reset of Days on Market Property (DOMP) for a property. The calculation for Days on Market (DOM) and for resetting DOMP for the new status COMING SOON is consistent with the long standing MRIS policy for the calculation of DOM (Days on Market).
DOMM and DOMP will accrue only when a property is in ACTIVE status. Once the listing is changed to another status DOM stops accruing.
For DOMP to reset, the listing must be in Expired or Withdrawn status for 90 consecutive days. If a listing is entered into any status such as Coming Soon, TEMP OFF, CNTG KO, CONTRACT, etc prior to the 90 day consecutive time period, the DOMP will not reset. An exception occurs if the property is sold and the new owner lists the property within the 90 days period.
So, if you add a listing prior to the 90-day time period in Coming Soon status, the DOMP will not reset. Once the listing is changed to Active status, the DOMM will start over for the MLS number and the DOMP will show the previous DOMP plus any additional DOM for the new listing for the time it is in ACTIVE status.