How many homes sell without ever being marketed on the Multiple Listing Service? The MLS is the central database that all Realtors share - it's what Zillow and Redfin pull from.
They recently started incorporating public sales data from the county.
I looked at our neighborhood to find out how many never “hit the multiples” - 86 homes sold in 90026 and 90027 since the beginning of the year, and 12 were never listed.
If you take out the high-end celebrity homes, and a few trust sales (families moving property around), you're left with around 5% of homes being sold off-market.
Not enough to get FOMO over.
Almost all the houses appear on the MLS, and the best way to find deals is still 1) grabbing on day one, or 2) uncovering gems languishing in plain sight.
And homeowners, remember, off-market is under-market. Only do it if you don't like money.
Next week - how many houses do listing agents actually “double-end”? Not as many as you think.
