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