What are Marketcheck Widgets?
Marketcheck Widgets are web widgets for automotive websites powered by Marketcheck APIs. Marketcheck widgets allow you to modify styling, embed widgets in an existing website or create a car search portal from scratch.
Marketcheck provides many widgets to improve your website, which you can look here at collection. Three of them are Time On Market, Market Days Supply and Price vs Miles plot.
Why these 3 ?
These widgets provide important stats of car which adds another dimension of transparency on car’s details page as you compare your car with similar cars available on market. For buyers, it is good to have such market comparisons stats available which helps user understand the true value of car.
Time On Market
Time on Market, also referred to as Days On Market(DOM) refers to the number of days a car is on the active market.
For a buyer, it is important a measurement when buying a car to see how long a car has been on market and what is average number days a car remain on market in the given region or nationwide.
Time on Market widget shows DOM of the vehicle and 2 averages , that are local and national DOM average. Marketcheck widgets allows customisation to widget styling on playground.
Market Days Supply (MDS)
Market Days Supply is a metric that deals with supply and demand characteristic of a vehicle. Lower MDS indicates demand is stronger than supply of similar vehicle in market, vice versa a higher MDS indicates supply is higher than demand of a vehicle.
Market Days Supply widget shows 3 values, that are Available Units, Market Days Supply and Sold Units of similar vehicles(match on YMMT) in a given region.
How is MDS calculated ?
MDS = (Active inventory count) / (Past 45 days sale count)
Price vs Miles plot
Price vs Miles plot is a Market comparison widget which compares your car to cars in active market in terms of price and miles.
It helps buyer to decide if the deal is good or not in comparison to available active cars in market.
In this article we saw what are Time On Market, Market days supply and Price vs Miles plot and how they provide value to dealer and a buyer. More such widgets are available at widgets.marketcheck.com.
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