We’re kicking off a new series on Washington, DC Sweet Digs called Redfin By The Numbers. In this series, we’ll take a look at our brokerage stats to see how what our clients are doing right now reflects what’s happening in the market.
Let’s take a look at Redfin’s March numbers from the metro Washington, DC region.
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 the DC area:
- 15 clients responded to our customer-satisfaction survey and posted a review online, the same number from February.
- All 15 of those clients, or 100%, would recommend Redfin to a friend, up from 93% in February.
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 Kicking Tires
In March, our metro Washington, DC clients were busy seeing homes and making offers:
- Redfin clients toured 601 homes in March, up from 225 in February.
- Our clients submitted 31 signed offers on homes, up from 16* in February.
o Marshall Park: 17 offers
o Fernando Ferrufino: 7 offers
o Taylor Connolly: 7 offers
- 3 of those offers, or 10%, were on bank-owned foreclosures, up from 0 in February.
*In the previous post with the February numbers, we reported the number of unsigned offers we received from Redfin clients. Starting with this post, we’re tracking the number of signed offers our clients submitted to listing agents.
We also had a great home-buying class in March. About 45 people came to our office in Falls Church to learn about the home-buying process and meet our agents. There were a lot of questions about the first-time home-buyer tax credit. Check out the slide deck from the class.
It’s Taking 34 Days To Close On A Home
In March, the time it took our clients in the metro DC area to close on their homes was slightly longer than in February:
- For our clients who bought re-sales, the average time from initial agreement on terms to the close of of the deal was 34 days, up from 32 days in February.
- All of our clients successfully financed their homes, the same as in February
- All of our client’s deals passed the home inspection; in February 1 failed the inspection.
- Of our closed deals, the average discount off list price for homes sold was 5.64%, up from 3.04% in February.
Look For Our April Report
We’ll be back next month with a report on what happened in April. What numbers would you like to see in our April report?