Redfin Help Center/Getting Started with Redfin/Market Trends & Statistics

Trends & Statistics: Trend Charts & Methodology

Bryan Selner
posted this on December 02, 2012 03:13 PM

To help you make informed decisions when buying or selling a home, we show five kinds of data about what's going on in the real estate market at the neighborhood, zip-code, city, and county level.

 

Interactive Graph

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View any city page on Redfin to find this graph. This example uses the Oakland city page. Unless otherwise specified, we calculate these values using moving windows that present the metrics based on the 90-day period ending on the given date shown on the graph. We also show the median ratio as opposed to the ratio of two medians. The median ratio best represents current market pricing trends since it captures the association of each home's individual listing or sold price per square foot in the final value.

Our graph is updated once a week and each point represents one week's worth of data. You can view single family homes, condos or both and see the following five metrics:

  • Listing $/Sq. Ft. : the median value of the listing price per square foot for homes that were active on the market in the week ending on the date shown on the graph. This is the median of each home's ratio of listing price to square feet, not the ratio of two medians.
  • Sold $/Sq. Ft. : this is the 90-day moving median value of the sold price to square footage. We calculate the median value by taking the ratio of each home's sold price to square feet, and then take the median value of that set.

Learn more about how to evaluate $/Sq. Ft. in your home search.

  • Sale-to-List % : the moving mean value of the ratio of the final sale price to the list price for homes sold in the previous 90 days. Learn more about how to evaluate sale-to-list percentages in your home search.
  • # For Sale: the number of homes that were for sale in the week ending on the date shown on the graph.
  • # Sold: the 90-day moving count of the number of homes sold.

 

How Can the Listing $/Sq. Ft. be Lower Than Sold $/Sq. Ft?

It's common for the $/Sq. Ft. for listings to be lower than the $/Sq. Ft. for homes sold, but still have a sale-to-list % less than 100%. For example, the Listing $/Sq. Ft. might be $141/sf, the Sold $/Sq. Ft. might be $148/sf, and the Sale-to-list % might be 98.6%. In this case, homes are selling for less than list price, but few inexpensive listings are selling, while a bunch of expensive listings are. As a result, the average list price is lower than the average selling price, but the $/Sq. Ft. is higher for homes sold than for active listings.

 

Listing Data

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We display a number of metrics about homes on the market during the given time period. We update the listing data once a month during the first week.

Here's how we calculate the statistics about what's on the market broken out by the time period and home type:

  • # Homes for Sale : the number of homes that were for sale at the end of the given time period in the table.
  • # Homes for Sale: For-Sale-By-Owner : the number of homes that were For-Sale-By-Owner (FSBO) at the end of the given period in the table.
  • # Homes for Sale: MLS-Listed Foreclosures : the number of MLS-listed foreclosed homes for sale at the end of the given period in the table
  • Median List Price : the median asking price for homes for sale in the given time period in the table.
  • Median List $/Sq. Ft. : the median of the ratio of list price to square footage for homes for sale in the given time period. It is the median of the ratios of each home, not the ratio of two medians.

 

Sold Data

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We show you data on what's been selling, broken out by single family homes, condos or both in the relevant time period. This data is updated once a month near the beginning of the month. The number of sales and pricing reported in a given month may change the next month to account for any sales recorded in the previous month after we publish our report. We get our sold data from the MLS and public records. Find out what type of sold data we can show in your market.

Here's how we calculate statistics about homes sold:

  • # Homes Sold : the number of homes sold in the given time period.
  • Median Sold Price : the median selling price for the type of home that sold in the given time period.
  • Median Sold $/Sq. Ft. : the median of the ratio of selling price to square footage for homes of a certain type sold in the given time period. It is the median of the ratios, not the ratio of two medians.
  • % Sale-to-List : the mean of the ratio of sale price to list price for the type of home sold in the given month. It is the mean of the ratio, not the ratio of two means.

 

Price Reduction Graph

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To find this graph, view any neighborhood page on Redfin. For example, click here for the Piedmont neighborhood of Oakland.  

In this graph, we've grouped homes that went off the market into buckets based on the number of days that they were on the market and the number of price reductions that were made on a certain home while on the market. This graph includes homes that sold or came off the market for another reason. These numbers are calculated for 90-day time periods and are updated each day.

This graph can help you decide if you should wait for a seller to drop the price of a home. Check out this in-depth discussion of how to use this graph.

 

Price Reduction Data

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In the price reduction section, we show you data based on 90-day windows for the number and size of price reductions for homes that either sold or went off the market for another reason. We calculate these values daily and break them out by home type. These values include:

  • Days on Redfin: the median number of days homes were on market before selling or being withdrawn.
  • % Homes with Reductions : the ratio of the number of sold and withdrawn homes that with at least one reduction to the number of all sold and withdrawn homes.
  • # of Reductions : the median number of price reductions for homes that went off the market with at least one reduction. We don't count homes that did not have a price reduction.
  • Total % Reduction : the median percent reduction for sold and withdrawn homes with at least one price reduction.. For homes that had multiple reductions, we calculated the total percent reduction. For example, if a home had two price reductions of 10% and 20% before going taken off the market, the total percent reduction is 28% (100% - ( (100% - 10%) * (100% - 20%)) = 28%).
 

Comments

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Forest Forever

It will be so cool if we can select 30 days, 60 days, 120 days, 1 year for moving averages in the  interactive chart. If you can let us download the raw data, it will be even better!

Thanks and keep up the good work! 

September 12, 2013 10:08 AM
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Karen Jones
Redfin Help Center

Thank you for being a Redfin fan and for your interest in our interactive data chart.

Although we are not a source for raw data, we are happy to consider providing more time frame options in the chart.

September 13, 2013 12:11 PM
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Alan Nevin

i am trying to find condo sales/sq.ft. in downtown los angeles from 2006-2012. can you provide data of that type?

or suggest a source?

September 25, 2013 03:21 PM
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Karen Jones
Redfin Help Center

Great question. We provide sold data in several chunks from the most recent "one week" period to "all" the historic sold records as supplied by the county recorder's office. If you pull up one of these sets of data, you will see the properties on the map as well as in a list below where the price per square foot also shows.

We do give several options for how far back you would like to look at sold property info, but we don't provide the option of a specific data range, nor am I aware of a source of that does.

 

September 25, 2013 03:41 PM
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Bob Sarver

Hi,

Your data presents comparisons against homes, condos, and both. Where do townhomes fit into this data? 

Thank you! :-)

September 28, 2013 04:42 PM
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Karen Jones
Redfin Help Center

Appreciate you asking about how properties are split into categories. Townhome is a style designation, whereas house and condo are ownership designations.

So, the answer is that townhomes will be split, some showing with the house statistics if they are owned Fee Simple, meaning that the owner has full responsibility for their unit (like house ownership.)

The other group, where an owner is required to be a member of/pay dues to, a Home Owners Association (HOA,) will show together with other properties owned as condominiums.

September 29, 2013 01:47 PM
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Paul Cassiday

I am impressed by your responsiveness to the questions here. I have one: how far back does the data on sales go in time? And is this historic data MLS or public records based? I was playing around with the reseach center graphs and got the impression it goes back in time only a year. Thanks, Ricky

December 09, 2013 01:15 PM
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Megan Riggs
Redfin Help Center

That's a great question! Under the stats and trends section of our website you'll see data that goes back one year only. If you would like to view sale records that go back further than that, you can always do a regular search for an area and select Sale Records. When searching this way, you can view sale records up to three+ years back. Unfortunately there isn't a way to view this data in a chart or graph format, but you will be able to go through the listings individually. 

The historic data you see is coming to us from the MLS. 

We hope this helps! Thanks for using Redfin!  

December 09, 2013 02:57 PM
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Scott Schluer

I'm going to add a +1 for more time frame options on this data. Going back 90 days is nice, but I'd like see "6 months, 1 yr and Max" on there as well (or allow for custom date ranges -- would be even better). I was going to suggest access to the raw data myself as well, but it sounds like you don't provide that based on the response to the comment above. However, if that's possible down the road, it'd be a huge plus.

December 12, 2013 10:37 AM
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Megan Riggs
Redfin Help Center

Thanks for your suggestions! We'll pass your feedback along for consideration! 

December 12, 2013 10:44 AM
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Scott Schluer

One more while I'm at it. I'd love to see a graph of the median sale price over time. Thanks!

December 13, 2013 06:41 AM
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Janie Cowart
Redfin Help Center

Awesome! Thank you again for the great suggestions. I'll make sure to pass that one along too. 

Thanks!

Janie

December 13, 2013 09:21 AM
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Klaus Gosma

Waiting to see January's numbers for the Magnolia neighborhood of Seattle. When is this data typically updated?

Thanks!

February 08, 2014 03:42 PM
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Erle Thompson

Can you please change the 'Market trends' to be more than just ~2 years, can you make it for at least 10 years, or even better 25 years or more.

February 10, 2014 12:18 PM
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Megan Riggs
Redfin Help Center

That's a great suggestion! Under the stats and trends section of our website you'll see data that goes back two years only. If you would like to view sale records that go back further than that, you can always do a regular search for an area and select Sale Records. When searching this way, you can view sale records that go back 10+ years. Unfortunately there isn't a way to view this data in a chart or graph format but I will pass this feedback onto our website development team to see if we could add more years to the future graphs. 

Please email us at: customerservice@Redfin.com if you have further questions!

Thanks so much for using Redfin!  

February 10, 2014 01:52 PM
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Erle Thompson

Thank you for your response. Unless I am doing something wrong, I do not think I can do a year/year comparison under the 'sales records' section. If I can please tell me how to do it for annual sales rates for a given time to another given time.

February 10, 2014 02:46 PM
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Megan Riggs
Redfin Help Center

Hi Erle!

Unfortunately there isn't a way to do yearly comparisons for sale records this way. Sorry about that! 

February 10, 2014 03:38 PM