2013: The Year of the Inventory Impasse
A few weeks ago we raised the alarm on new listings, which were down 30% from a year earlier after the first two weeks of January. Things have gotten slightly better since then, but the number of new listings is still down 18% in the first five weeks of 2013 compared to the same period… Read More
Top Five Home Selling Tips From Redfin
Let’s follow up the lament over the lack of listings we posted last month with some practical, data-based tips for the homeowners out there who have decided to take advantage of today’s seller-skewed market. Here are the top five most important things you can do to maximize your sale price, minimize your time on market,… Read More
2013: Calling All Sellers! (Where are you?!?)
A typical real estate market moves like clockwork: listings decline in the fall and through the holidays, but when the calendar turns over to a new year—practically at the stroke of midnight the morning of January 1—the switch is flipped and new listings begin to increase, signaling the beginning of another home selling season. Despite… Read More
Recently we studied home sales data from 2010 and 2011 and found that thanks to the hard work of our amazing listing agents, Redfin listings sell faster and for more money than the competition. That’s a great starting point, but what if we could do more? What if we could get our clients’ listings in… Read More
With the National Association of Realtors’ big Nationwide Open House Weekend just around the corner, we thought it would be interesting to dig into Redfin’s stash of real estate data to answer the question: Does holding an open house make a home more likely to sell? To answer this question, we analyzed over a quarter… Read More
As a part of an enhanced fervor here at Redfin for giving sellers better service for less money than traditional agents, I was tasked with a research project to determine how well our listing agents have performed for sellers in recent years. The result: On average, Redfin listings sell 15 days faster and for $8,700… Read More
If you’ve bothered reading the real estate section of just about any newspaper or website, you’ve probably seen more bottom calls than you can count from various real estate professionals since the housing market totally fell apart in 2008. So let’s be up front here. Yes, we are a real estate brokerage. We make our… Read More
A surprising number of U.S. listings – about 1 in 10 — are sold by a real estate agent who also represents the buyer. How, we wondered, does this work out for the seller who originally hired the real estate agent? Dual Agency Costs the Seller $4,789 On Average To answer that question, Redfin’s real… Read More
The first month of every year for Redfin is like the first five minutes of a blind date: it doesn’t take long to figure out how the whole thing will go. We track every customer activity in a big database so it’s easy for us to see whether demand is strong right out of the… Read More
Sometimes we start a market analysis project looking for one thing and end up discovering something else entirely. Recently we decided to dig into the data to see if it supported our feeling that winter is the best time to buy, and the worst time to sell. However, when we got the results we discovered… Read More