Were 41% of all recorded sales this month really private deals?

Hi, Spinnaker1. What's your definition of a "private" deal? Never listed on Streeteasy? Never listed anywhere? Executed directly between the principals? Not arm's-length? Something else?

I'm just looking at what UD tosses out. Mainly sales with no associated listings. "Private deal" may be a little misleading but represents properties that may not have had a public offering in the classical sense...

spin, many of those listed as having no associated listings actually do. apartment numbers hyphenated, missing, sometimes SE just doesn't seem to match them up even if they seem to be perfect matches. i agree that there are a lot that don't seem to have associated listings, but it doesn't seem particularly higher now than previously.

I'm sure its already been well hashed out here but I was really struck by the number when I looked at it.

it is significant. and many, although certainly not all, of those private deals trade at below market for listed properties (transferring of properties among family members, or due to divorce, quick sales without brokers via word of mouth or between acquaintances and neighboring apartments, sponsor units being sold, etc.).

We closed on an unlisted apartment this month as buyers.

I think part of the push towards not formally listing in a low-volume market is that it's tough to correctly gauge clearance prices.

So as technology has changed so that a seller always leaves a trace of their "listed" price, sellers don't want to list because they don't want to be tarred with the brush of potential initial mispricing.

ali r.
Ask the Agent: bit.ly/12afCB

I flat out do not believe that number. If in fact that is the case, it would be a HUGE SEA CHANGE that would be inexplicable. I think as others have pointed out, it's error in the reporting which is accounting for the majority of it, so you have no idea what the real number is.