PocketList finds quarter of San Francisco home sales are private

Private deals are spread throughout the county
  • A host of private home sales involve new construction.
  • Private deals are spread throughout San Francisco County.
  • San Mateo and Santa Clara are where private home deals are most prevalent.

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Private home sales, those not listed on the MLS, accounted for 23 percent of San Francisco County home sales in last year, according to findings from PocketList. The firm expected to find a high percentage of these non-publicly listed trades in high end neighborhoods like Pacific Heights and Marina, but instead found these transactions were spread all over the county's map like a "smallpox epidemic." "It's happening and it's prevalent," said Tom MacLeod, founder and CEO of PocketList, adding a number of these deals involve newly constructed homes, as developers avoid listing on the MLS in order to maximize profits. Agents avoid listing private sales results Of the 23 percent of private sales PocketList also found that the majority were not entered into the MLS following closing. According to MacLeod, agents, as a courtesy, typically enter the sales prices of off-market deals on the MLS for comparable reasons. "A portion of data is not available to get an accurate picture...