Redfin’s Bay Area February Update: 726 Homes Toured, 101 Offers

Beginning with February, Redfin is publishing monthly Bay 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

• 11,759 new MLS listings (the current total is 40,815).
• 10,678 price reductions.
• 32.9% of the homes for sale are foreclosed properties being sold by banks, also known as Real Estate Owned (REO) listings. (We handled over 60 offers on REOs in the Bay Area in the past two months).
• 84,010 homes were added to Bay Area Redfin users’ favorites list.

Brokerage Activity

• 726 homes were toured by our clients through Redfin field agents.
• 61 people attended our home buying class.
• 101 clients made offers.
• 28 clients responded to our customer-satisfaction surveys and posted an online review.
• 97% of our February Bay 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 Bay Area Redfin forum and sign up for listing alerts and our monthly newsletter. As always, thanks for using Redfin!