Why do some downtown condos go under contract in a week while others linger for months? If you are buying or selling in 46204, you have likely noticed that timing varies a lot from one property to the next. Understanding Days on Market helps you read the market, set expectations, and make better decisions. In this guide, you will learn what DOM and CDOM mean, why numbers differ across websites, and how to use them in downtown Indianapolis. Let’s dive in.
What Days on Market means
DOM basics
Days on Market, or DOM, is the number of days between when a property is publicly listed and when it goes under contract. It is a simple measure of how long it takes a listing to secure an accepted offer. Minor listing updates, like new photos or a price change, do not reset DOM.
CDOM explained
Cumulative Days on Market, or CDOM, adds up all active listing periods across relists and status changes until the property goes under contract. CDOM helps you see whether a property has been on and off the market repeatedly, which can signal pricing or condition issues.
What resets and what does not
DOM usually resets when a new listing is first activated. CDOM reset rules vary by MLS. Some MLSs may allow a reset after a long off-market gap, a change in ownership, or a major renovation. In 46204, the local MLS is MIBOR. Because MLS rules can change, you should confirm current DOM and CDOM reset rules with a local agent familiar with MIBOR policies.
Why numbers differ across websites
Data delays
Public real estate websites pull data from multiple feeds. Status changes and relists can take hours or days to update across platforms. That delay can make a listing look newer or older than it really is.
Manual relists
Sometimes a property is withdrawn and then relisted to look fresh on public portals. Local MLS systems track CDOM to provide a fuller history, but a portal may show a low DOM if it sees a new listing feed. The MLS listing history is the most accurate record.
Status differences
Terms like active, pending, and contingent are handled differently across systems. DOM stops when a contract is accepted under MLS rules, but a public site may take time to reflect that status.
MLS-only history
Key details, like prior listings or full price history, may be visible in the MLS but not on public sites. If you want the most accurate DOM and CDOM, ask for the MLS listing history.
Downtown Indy factors that affect DOM
Property types and buyer pool
ZIP 46204 has a high share of condos, lofts, and mid to high-rise units. Condos can have a narrower buyer pool due to financing rules, HOA approvals, and the split between investor and owner-occupant demand. This can lengthen DOM compared with single-family homes in suburban areas.
Inventory and absorption
When new downtown condo projects deliver many units at once, inventory can rise and DOM can stretch. When inventory is tight and job growth is strong, DOM can shorten. Compare any listing’s DOM to the current absorption rate for similar property type and price band in 46204.
Seasonality
Spring is the most active season, with more showings and faster contracts from late March through May. Summer is steady. Fall slows, and late fall into December is often the slowest period, which can stretch DOM. Downtown condos can see larger seasonal swings than suburban single-family homes because investor demand and rental returns factor into timing.
Building-level influences
Buildings differ. HOA dues and reserves, parking, amenity packages, and building management can pull DOM up or down. Older buildings with dated common areas or deferred maintenance often see longer DOM. A well-managed building with strong amenities can shorten DOM.
Price bands
Lower-priced downtown condos often move faster, while luxury units can take longer due to a smaller buyer pool. Always compare DOM within the same price tier and property type.
How sellers should use DOM
Use DOM as market feedback. If your days on market are climbing, work a plan instead of improvising.
- Verify comparables. Compare to recent sales and active listings in the same building or a close peer set. Make sure you are matching size, condition, view, parking, and HOA profile.
- Calibrate price. Consider a staged price strategy rather than a deep cut. Use showing feedback and competing inventory to choose your next move.
- Elevate marketing. Professional photography, floor plans, virtual tours, and targeted digital marketing can pull in the right buyers faster.
- Improve condition. Tackle small repairs, refresh paint and lighting, and consider light staging. For larger pre-list improvements that could speed DOM and raise price, explore a curated plan with Compass Concierge through our team.
- Remove friction. Make showings easy, provide accurate disclosures, and have HOA documents ready for buyers to review.
- Avoid risky relists. Withdrawing and relisting just to reset portal DOM can backfire. MLS CDOM often reveals the full history, and repeated relists can reduce buyer confidence. Follow your agent’s guidance and MIBOR rules.
How buyers should use DOM
DOM can help you shape your offer and discovery process.
- Low DOM, very new listing. Expect competition. Consider strong terms and pricing at or above list if comps support it.
- Moderate DOM, a few weeks. Look at price history and seller signals. If there have been small reductions or no recent activity, negotiate based on comps and current absorption.
- High DOM, many weeks or relists. Dig deeper. Review price history, inspection reports, HOA documents, and financing considerations. The seller may be more flexible, or the property may have issues that explain the wait.
- Never assume motives. A high DOM does not guarantee a discount. Some sellers have specific timing needs and will hold.
Rule-of-thumb DOM ranges
Treat these as general guidance and validate with a local agent using recent MIBOR data for 46204.
- Very short: under 7 to 14 days. Signals strong demand or sharp pricing for similar properties.
- Typical: 2 to 8 weeks. Often in line with market averages.
- Long: 2 to 3-plus months. Often points to pricing or condition issues, or a narrow buyer pool.
Always compare a listing’s DOM to the median DOM for similar properties in 46204, not to a citywide or national number.
What changes do to DOM and CDOM
- Price changes. DOM keeps counting during price changes. A reduction can speed time to offer, but it does not restart the clock.
- Status shifts. DOM stops when the property goes under contract. If a deal falls through and the listing reactivates, CDOM may continue unless a specific MLS rule triggers a reset.
- Withdraw and relist. Withdrawing and relisting can make a portal show a fresh DOM, but MLS history often preserves CDOM for transparency.
- Ownership change or renovation. Some MLSs allow a CDOM reset after a change of ownership or substantial rehab. Confirm specifics with a local agent versed in MIBOR rules.
Verify DOM in 46204
You can cross-check DOM and CDOM quickly with the right records.
- Ask for MLS listing history. This is the most reliable source for true DOM and CDOM.
- Review price histories. Check for repeated relists or gaps that might explain conflicting numbers.
- Confirm public records. Look at Marion County sale dates and ownership to understand past transfers.
- Compare to building peers. Review recent contracts in the same building or a tight comp set to see how your subject property stacks up.
The bottom line for downtown Indy
DOM is a helpful signal, not a verdict. In 46204, the condo mix, building-level variables, price bands, and seasonality all shape how long homes take to go under contract. Use DOM alongside comparable sales, absorption, price history, and condition to make confident decisions.
If you want a precise read on a specific property or building, reach out. Our team lives and works in the core neighborhoods and pairs local insight with elevated marketing and Compass Concierge to position your sale or purchase for success. Connect with Kelly Todd to get a customized DOM read, a building-by-building strategy, or to get your instant home valuation.
FAQs
What does Days on Market mean in real estate?
- DOM is the number of days from when a property is publicly listed to when it goes under contract. It does not reset for minor updates like price changes.
What is Cumulative Days on Market and why it matters?
- CDOM totals all active listing periods across relists until a property goes under contract, helping you spot repeated listings or stale demand.
Why do DOM numbers differ on real estate websites?
- Portals update at different speeds and may treat relists or statuses differently, so their DOM can lag the MLS. Ask for the MLS listing history for accuracy.
How should sellers in 46204 respond to rising DOM?
- Recheck comps, adjust pricing in stages, elevate marketing and presentation, remove friction, and consider pre-list improvements. Confirm any relist moves with MIBOR rules.
How should buyers use DOM when making an offer downtown?
- Pair DOM with comps, absorption, and seller signals. Low DOM often means act fast, while higher DOM calls for deeper due diligence and strategic negotiation.
