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	<title>Redfin Corporate Blog: Notes on Redfin, technology, real estate and life at a startup. &#187; San Francisco Real Estate</title>
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		<title>Which City Has the Lowest Percentage of Homes for Sale? Envelope Please&#8230;</title>
		<link>http://blog.redfin.com/blog/2008/12/which_city_has_the_lowest_percentage_of_homes_for_sale_envelope_please.html</link>
		<comments>http://blog.redfin.com/blog/2008/12/which_city_has_the_lowest_percentage_of_homes_for_sale_envelope_please.html#comments</comments>
		<pubDate>Wed, 24 Dec 2008 06:02:12 +0000</pubDate>
		<dc:creator>Glenn Kelman</dc:creator>
				<category><![CDATA[Chicago]]></category>
		<category><![CDATA[Foreclosure]]></category>
		<category><![CDATA[Inventory]]></category>
		<category><![CDATA[San Francisco Real Estate]]></category>
		<category><![CDATA[Uncategorized]]></category>

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		<description><![CDATA[We just published a table showing the percentage of listings being sold by a bank. But then we began to wonder: what percentage of properties in an entire city are actually for sale at the moment?
This is not an easy question to answer, because you have to count up all the properties for which we [...]]]></description>
			<content:encoded><![CDATA[<p>We just published a table showing <a href="http://blog.redfin.com/blog/2008/12/are_all_the_homes_for_sale_in_foreclosure_i_dont_think_so.html">the percentage of listings being sold by a bank</a>. But then we began to wonder: what percentage of properties in an entire city are actually for sale at the moment?</p>
<p>This is not an easy question to answer, because you have to count up all the properties for which we have tax assessor records and compare that to all the properties for sale in the MLS, on bank websites and on for-sale-by-owner websites.</p>
<p>Enter the great Arthur Patterson, a hyper-intelligent, near-mythical creature roaming the Redfin office in his socks at 7:15 a.m., oddly pleasant but always precise, and undoubtedly capable of assembling an atom bomb before breakfast.</p>
<p>Arthur helped put together the table below. He asked me to note that the percentages are probably a little too high, because our tax-records aggregator always misses a few properties but the margin of error is still less than 5%.</p>
<table border="1">
<tr>
<td><strong>City</strong></td>
<td><strong>% of All Properties That Are For Sale</strong></td>
<td><strong>% of All Properties Being Sold by a Bank</strong></td>
<td>&nbsp;</td>
</tr>
<tr>
<td><a href="http://www.redfin.com/city/17420/CA/San-Jose" title="San Jose real estate">San Jose</a></td>
<td>2.03%</td>
<td>.48%</td>
</tr>
<tr>
<td><a href="http://www.redfin.com/city/11203/CA/Los-Angeles" title="LA real estate">LA</a></td>
<td>2.21%</td>
<td>.35%</td>
</tr>
<tr>
<td><a href="http://www.redfin.com/city/16904/CA/San-Diego" title="San Diego real estate">San Diego</a></td>
<td>1.54%</td>
<td>.19%</td>
</tr>
<tr>
<td><a href="http://www.redfin.com/city/1826/MA/Boston" title="Boston real estate">Boston</a></td>
<td>3.34%</td>
<td>.33%</td>
</tr>
<tr>
<td><a href="http://www.redfin.com/city/12839/DC/Washington-DC" title="Washington DC real estate">DC</a></td>
<td>2.18%</td>
<td>.17%</td>
</tr>
<tr>
<td><a href="http://www.redfin.com/city/29470/IL/Chicago" title="Chicago real estate">Chicago</a></td>
<td>4.52%</td>
<td>.28%</td>
</tr>
<tr>
<td><a href="http://www.redfin.com/city/1073/MD/Baltimore" title="Baltimore real estate">Baltimore</a></td>
<td>1.43%</td>
<td>.07%</td>
</tr>
<tr>
<td><a href="http://www.redfin.com/city/17151/CA/San-Francisco" title="San Francisco real estate">San Francisco</a></td>
<td>.88%</td>
<td>.02%</td>
</tr>
<tr>
<td><a href="http://www.redfin.com/city/16163/WA/Seattle" title="Seattle real estate">Seattle</a></td>
<td>2.09%</td>
<td>.03%</td>
</tr>
</table>
<p>What immediately jumps out is how few homes are for sale compared to the number of properties available the city of <a href="http://www.redfin.com/city/17151/CA/San-Francisco">San Francisco</a>, where there are plenty of rental properties and the inventory of single-family homes is still slim.</p>
<p>At the other end of the spectrum, nearly 1 in 20 homes are for sale in <a href="http://www.redfin.com/city/29470/IL/Chicago">Chicago</a>, so there&#8217;s a lot of turnover in the heartland.</p>
<p>[And many thanks to Redfin reader Kim for  her comment on our <a href="http://blog.redfin.com/blog/2008/12/bank-owned_listings_shoot_up.html#comments">photo of a Burmese python</a>: "I suspected my x had once again fallen into the hands of the law."]</p>
<p><img src="http://neatorama.cachefly.net/images/2007-07/burmese-python-florida.jpg" width="359" height="261" title="Which City Has the Lowest Percentage of Homes for Sale? Envelope Please..." alt="burmese python florida Which City Has the Lowest Percentage of Homes for Sale? Envelope Please..." /></p>
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