In the URAR sales comparison grid, what does "DOM 80" indicate?

The indication "DOM 80" in the Uniform Residential Appraisal Report (URAR) sales comparison grid specifically refers to the days on market, which means that the comparable property was on the market for 80 days before an accepted offer was made. This metric is important in real estate appraisal as it provides insight into market conditions and the competitiveness of the property. A longer DOM might suggest that the property was overpriced or less desirable, while a shorter DOM could indicate strong demand or appropriate pricing. Therefore, understanding this timing can help an appraiser make more informed comparisons between the subject property and its comparables.

Other interpretations, such as percentage similarity in value, physical distance from the subject property, or directional measurement from a meridian, do not represent how DOM is used in an appraisal context and would not provide relevant information about the marketability or pricing dynamics associated with the comparable properties.