Pocket Listings in 2023
The trend of pocket listings in the South Bay housing market has been gaining popularity in recent years. A pocket listing is when a real estate agent privately lists a property for sale, rather than advertising it publicly on the MLS (Multiple Listing Service). This can be done for a variety of reasons, such as if the seller wants to keep the sale of their property private, or if the property is not in a condition to be shown to potential buyers.
There are several advantages to buying or selling a home under a pocket listing. For buyers, pocket listings can offer unique properties that are not available on the open market, as well as the opportunity to negotiate a better price. For sellers, pocket listings can help them avoid the hassle of showing their property to multiple potential buyers and can potentially result in a faster sale.
The current housing market in the South Bay is highly competitive, with low inventory and high demand driving up prices. It is a seller's market, with many homes receiving multiple offers and selling for over asking price. However, this trend is expected to cool off in the next few years, with more homes coming on the market and a slight decrease in demand. This means that now may be a great time to buy in the South Bay, as prices are expected to stabilize in the near future.
Long term investment in the South Bay can be a wise choice, as the area is known for its desirable location, excellent schools, and high quality of life. The South Bay is also home to a diverse range of industries and businesses, providing a strong job market for residents.
If you are interested in buying or selling a home in the South Bay under a pocket listing, contact me for more information and we can guide you in the in the buying or selling process.
