Redfin By The Numbers, April Edition: More People Are Touring Homes

Let’s look at our brokerage stats for Southern California to see how what our clients are doing right now reflects what’s happening in the market.

Our Clients Love Our Fanatical Service

We survey every client and track every transaction in a central customer database. For the surveys we received in March from our clients in Southern California:

  • 44 clients responded to our customer-satisfaction survey and posted a review online, up from 36 in March.
  • 43 of those clients, or 98%, would recommend Redfin to a friend, up from 97% in March.

In these surveys, Redfin asks customers to rate the likelihood that they would recommend Redfin to a friend on a 0-to-10 scale. Customers who rated 6 or higher count as people who would recommend Redfin to a friend.

People Are Out Looking At Homes

In April, our Southern California clients were busy seeing homes and making offers:

  • Redfin clients toured 1,695 homes in March, up from 1,457 homes toured in March.
  • Our clients submitted 72 signed offers on homes, up from 68 in March.
  • Our Southern California agents were busy working on these signed offers:
  • o Katrina Jauregui: 28 offers
    o Anna Nevares: 19 offers
    o Joyti Goundar: 14 offers
    o Angela Creech: 11 offers

  • 25 of those offers or 35% were on bank-owned foreclosures, down from 53% in March.

We also had 72 people come to our April home-buying class to the class to learn about the home-buying process and meet our agents. Check out the slide deck from the class.

It’s Taking 44 Days To Close On A Home

In March, the time it took our clients in Southern California to close on their homes was slightly longer than in March:

  • For our clients who bought re-sales, the average time from initial agreement on terms to the close of the deal was 44 days, up from 42 days in March.
  • 1 of our clients failed to get financing for their home; all of our clients successfully financed their homes in March.
  • 1 of our client’s deals failed the home inspection, down from 5 in March.
  • Of our closed deals, the average discount off list price for homes sold was 4.93%, up from 4.57% in March.

Look For Our May Report

We’ll be back next month with our analysis of the May numbers. Let us know what you’d like to see in that report.

  • Phyllis

    I am curious as to the other side of the equation, # of offers written, # of escrows entered, # of escrows closed… or something like that.

  • Frank Zak

    Redfin is great. Especially with Zillow, you
    can check sq. footage, etc. and Prop Tax` Rates,
    see past sales.

  • Frank Zak

    Have been a broker 25 years. Sold my house 4 years ago to escape coming crash. Went through crash of 1989 to 1995. That crash was worse and faster for houses, but this matches for condos
    % decline. In 1990 to 1992 everything crashed in half in less then two years. Official bottom 1995 distorsts reality. Sat for years not moving
    up after. I have bid highest on 10 REO’s recently and only got 1.
    Can’t figure out what’s going on myself.
    All cash over listing price. They alsways call
    and say highest and best and I do, but still
    can’t get REO’s. Major scam going down. Always
    go to city hall and check property records
    before buying. Lots of weird stuff out there.
    You can buy a vacant lot with protected butterflies on it, etc.

  • Jeff

    Interesting stats. I’ve noticed similar trends in CO.

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  • Cheros

    I love using RedFin….however, am currently working with an Agent to find home, and made mistake of mentioning RedFin link and now a large number of agents are somehow blocking the listings so they no longer show on Redfin….I’m very upset about this.

  • Matt

    Hi Cheros,

    I have a hard time making sense of that since the only way an agent can have a home not show up on Redfin is to take it off the MLS which doesn’t seem like a good plan.

    Can you email me an example or two of listings that they’ve taken off?