The Contract Date field is manually entered by the list agent when marking a listing Deposit. It is only available on the Change to Deposit form (in Add/Edit).
Contract Date designates when a listing became subject to a fully executed contract of sale/lease between a buyer and seller.
It is not dependent on the satisfaction of any contingencies or conditions of the contract which must be met prior to closing.
If changing a listing from Show to Deposit, the Contract Date must be between 2 days prior to the Show Date and the current date (today).
If going straight from Active to Deposit, the Contract Date must be within 5 days of the current date (today).
Days on Market (DOM) is calculated based on the number of days between the List Date and the Contract Date. This is an automatic calculation that is performed once a listing has been marked Closed (it happens during nightly maintenance the evening the listing is closed).