Redfin Seattle February Update: 692 Homes Toured, 73 Offers

Beginning with February, Redfin is publishing monthly Seattle Area real estate stats, summarizing what we’re up to in the market, and how the market is changing. This is our first crack at it, which means we’ll only present a few numbers for February.

Market Activity

  • 11,443 new Northwest MLS listings (the current total is 55,658).
  • 10,767 price reductions.
  • 101,444 homes were added to Seattle Redfin users’ favorites list.

Brokerage Activity

  • 692 homes were toured by our clients through Redfin field agents.
  • 28 people attended our monthly home buying class.
  • 73 clients made offers.
  • 27 clients responded to our customer-satisfaction surveys and posted an online review.
  • 100% of our February Seattle Area clients would recommend Redfin to a friend.

What else do you want to know? Your comments and suggestions are at the core of our goal to better serve our customers. We’d love to hear from you. If you haven’t already, join the Seattle Redfin forum and sign up for listing alerts and our monthly newsletter. As always, thanks for using Redfin!

  • http://www.EastsideEntrepreneurs.com Joe “TheHairFarmer.com” Kennedy

    I’d be interested to know how many of the 73 offers written were actually accepted and are closed or in escrow. It’s probably also appropriate to note how many potential buyers accounted for the 692 homes toured and how many showings RF had for each agent.

    Thank you for sharing your stats. Very interesting.

  • http://blog.redfin.com/blog/author/matt Matt

    Hi, Joe. Thanks for the interest! We’ll consider including those numbers next time we do this. I don’t have the showings per agent handy but I’m wondering how relevant it is since the Redfin agents who show houses for our buyers is different than the agents who negotiate offers.

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  • http://www.linkedin.com/company/mortgage-investors-corporation Mortgage Investors Corp

    the lack of first home owner grant the actual numbers of first timers are not being correctly recorded.

  • ak123

    Or,
    You could ignore the realtors on this page and let prices recalibrate somewhat lower. While not overpriced on a national basis, real estate is overpriced in many of the “hot” markets that Redfin follows.
    While overpricing may be tenable when there’s inflation, wages growing or when there are progressively looser standards on the horizon, none of that is the case today.
    Expect real estate to cool off significantly until either wages improve (you’d have to be patient for that one) or the price moves in the downward direction. Anything that jumps up 15% in one year runs the risk of not being sustainable.

  • http://www.mortgagefit.com/ Ashley Nelson

    Yes, it is certainly going to be tough for the prospective homebuyers to take out a mortgage loan in 2014 due to the new rules and updates. People are already panicking about the ways in which they can secure a great deal in this year. However, checking your credit score and making sure that your debt-to-income ratio is low enough, you can indeed take out a mortgage that is within your means. Anyone who is about to take out a mortgage in 2014, should not wait to lock in the best rate as the rates might rise out of control in 2015.