"SOLD" or "Off Market"?

Sellers who can't stomach the price and decided to "wait it out" until prices *hopefully* get better.

To give RE agents the benefit of the doubt, the property may be in the midst of getting into contract.

On the other hand, RE agents know how to play the game. They take aging properties off market and back on to make it look like a new listing has appeared.

It allows new developments to show their product and when it doen't move they take it off to hide the inventory.

I agree with newaccount that it's probably agents gaming the system.

However, as an agent, on my computer system -- which pushes to other brokers at Corcoran, Halstead, etc., I have: Accepted Offer; Contract Out; and Board Approved.

What are those supposed to be on StreetEasy?

ali r.
{downtown broker}

I'm having the same problem....and its happening a few days after going on the market.....although i go to the underlying broker website and its gone so it must really be taking off the market as opposed to sold

Does anyone know about this...
Here is the example,
A building that is listed on street easy... The building is currently under construction and all the units are in contract ( have been for a while )... All of a sudden some of the units are moved from being ion contract, to being listed in the sold collum and there has been no closings for the building as of now, AND if you click on each unit, most come up as temporary off the market.... meanwhile they have been listed in contract for ther past year...
any ideas??
I agree that the realtors can be manipulating the system but what are they trying to acomplish?

That's how they hide inventory. Brokers and new developers have a tremendous interest not to flood the market with new construction. It's actually a collaborated effort by developers and brokers. I have been saying this for sometime now. NYC inventory numbers are much higher then portrayed. It's a shell game. There are thousands of units purposely kept off the market.

dco, I contend that this practice is 'warehousing' and probably illegal. It's just another way to make the real estate market less transparent and less efficient: less free.

Here is the example of what I am seeing...
Price History
02/22/2007 Listed in StreetEasy with Corcoran at $498,606
03/02/2007 Price increased to $544,710
03/07/2007 Price increased to $560,970
01/08/2008 Listing entered contract
05/30/2008 Listing no longer available ( some listed as off the market )

DCO,If this is a way to hide inventory, they are showing that the unit is ( in fact ) no longer available. I sent an email to street easy and they told me that when this happens in a building that has not had any closings, this means that the broker has taken the listing off their website. I want to know why they would do this?