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This metric group covers 3 different metrics related to the average time a listing is on market prior to settlement: Days to Contract, Days Contract to Settle, and Days to Settle.
Days on Market: Calculation based upon the number of days a property is listed before receiving a contract. It is calculated based upon the property and accumulates between listings. It is the total number of days from the date when a property first comes on the market (list date) to the time is taken off the market due to a sale (contract date) or off market condition (off market date). If a property changes between Active and other statuses during the life of the listing(s), the cumulative on market time is tracked.
Contract to Settle: This is the amount of time between the date a listing was taken off the market due to a contract being received (contract date) and the date the transaction was settled (close date).
Days to Settle: This is the total amount of time between when a property first comes on the market (list date) until the date the transaction was ultimately settled (close date). For any sale in a given period, the Days to Settle equals the "Days to Contract" + "Contract to Settle".