Commercial Property Guide Time on Market measurement (TOM):
The Time on Market measurement for Commercial Real Estate is an automatic process that tracks changes in the time commercial property takes to sell or lease for particular locations and property types. Time on Market is a unique timely and reliable method of automating a previously under-utilised statistic. The Time on Market process classifies the listings into one of four quartiles based on the length of time the listing is actively available. The process then calculates the average within each of the four quartile. The first or quickest quartile is used to give the best indication of the market performance for a particular location and property type for both sale and lease advertised listings over time.
* Month in progress. Represents the data available so far and will be finalised after the end of the month.