What Does It Mean When a Home Is Off Market?

A home being off market means it is not actively advertised for sale on public platforms like the Multiple Listing Service (MLS) or popular real estate websites. This status indicates the property is not currently undergoing broad public marketing efforts to attract potential buyers. Its availability is not immediately apparent through typical online searches or real estate listings.

Defining Off-Market Status

When a property is off market, it is not presented to the general public through traditional real estate channels. Potential buyers will not find it listed on major online portals or within active MLS listings. While not actively marketed, an off-market designation does not mean the property is unavailable for purchase. It indicates a pause or cessation of widespread public promotion for sale. Properties in this status are not available for immediate showings or open houses, unlike active listings.

Specific Off-Market Classifications

A withdrawn listing means the property has been removed from the active market by the seller, but the listing agreement with the real estate agent remains in effect. The property is no longer publicly advertised, and showings typically cease. The contractual relationship between the seller and their agent continues for the duration of the original agreement. This status differs from a canceled listing, where the agreement is formally terminated.

An expired listing occurs when the listing agreement between the seller and the real estate agent concludes without a successful sale. The property is no longer represented by that agent and is removed from the Multiple Listing Service. The seller is free to re-list the property with the same or a different agent, or decide not to sell. The expiration signifies a formal end to the previous marketing period.

A canceled listing indicates that the listing agreement between the seller and their real estate agent has been formally terminated before its scheduled expiration. This termination can occur due to mutual agreement or specific conditions outlined in the contract. Once canceled, the property is removed from public real estate databases. The seller is free to pursue other options, including listing with a different agent or taking the property off the market entirely.

A property marked as pending or under contract signifies that a buyer has made an offer and the seller has accepted it. While the sale is not yet complete, the property is no longer actively marketed to other potential buyers. During this period, the transaction proceeds through various stages, such as inspections, appraisals, and loan approvals. This status indicates the property is on its way to changing ownership.

When a property is marked as sold, the transaction has officially closed, and ownership has legally transferred from the seller to the buyer. All contractual obligations have been fulfilled, and the deed has been recorded. The property is now entirely off the market.

A temporarily off market (TOM) status means the listing has been paused, often at the seller’s request, but the listing agreement with the agent remains active. The property is not available for showings or public marketing during this pause. Sellers might choose this status for personal reasons, such as unexpected travel or repairs. Once the reason for the pause is resolved, the property can easily be reactivated on the market.

Implications for Homebuyers and Sellers

For homebuyers, an off-market designation means the property is not currently available for public viewing or making immediate offers. Properties in such statuses, like withdrawn or expired listings, are not actively shown to the general public. While some off-market properties may re-enter the market, they are not accessible through standard real estate searches. Buyers interested in these properties would need to monitor public listing services for any changes in status.

For sellers, having their property move to an off-market status indicates a cessation of public marketing efforts. The property is no longer advertised on the Multiple Listing Service or other public platforms. The flow of buyer inquiries and showing requests will stop. Depending on the specific off-market reason, sellers may need to re-evaluate their selling strategy, address issues, or wait for an opportune time to re-list their property.