Backup offer Closing Days on market 
Housing Wire
MAY 14, 2024
As of May 13, the median days on market for single-family properties in Santa Monica with a median price of $1.85 million (the lowest market segment) and a median price of $2.622 million was 35 days and 17 days, respectively.
HomeLight
JUNE 9, 2023
A property listed as “contingent” in real estate means the seller has accepted an offer, but the deal isn’t fully closed yet. It’s also true that most real estate contracts, even those with contingencies, end up closing. Purchase mortgages today are taking over 40 days to close on average.
Realty Biz
MAY 24, 2021
Learn the number of new listings that have come on the market in the past month or six weeks. Learn the number of days these houses have been staying on the market before an offer is made. This is called days on market or DOM. Even if you are outbid, make your best offer a backup offer.
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