The Redfin Data Center
The Redfin Data Center is a comprehensive and freely accessible resource provided by Redfin, a next-generation real estate brokerage, designed to offer detailed and timely housing market data to a wide range of users, including journalists, investors, homebuyers, and sellers.
What the Product Does
The Redfin Data Center serves as a one-stop shop for the latest housing market data, leveraging Redfin’s unique position as a real estate brokerage with access to data from local multiple listing services (MLSs) and its own client interactions. This data is crucial for evaluating market trends, understanding homebuyer demand, and making informed decisions about buying or selling homes.
Key Features and Functionality
Data Coverage
The Data Center provides housing market data for 159 metropolitan areas across the U.S., covering metrics such as home prices, sales, and inventory. The data is categorized by various geographic levels, including national, metro, state, county, city, zip code, and neighborhood.
Tour and Offer Indices
A distinctive feature of the Redfin Data Center is the Tour and Offer Indices, which track the number of Redfin clients requesting home tours and making offers. These indices serve as early indicators of housing market performance and provide insight into homebuyer demand.
Data Visualization and Sharing
The platform is powered by Tableau, allowing users to easily download, visualize, and share the data. Users can create interactive dashboards, compare data across different regions, and share visualizations via embed codes or download them as images or PDFs.
Data Updates
The Redfin Data Center is updated on a monthly basis, ensuring that users have access to the most current market information as soon as it is available.
Customizable Dashboards
Users can customize their data views by selecting specific metrics and geographic areas. For example, a user can compare median sale prices in their local market to national averages or track changes in home prices over time.
Access to Detailed Metrics
The data includes a range of detailed metrics such as sale price, homes sold, new listings, days on market, and price drops. This granular data helps users gauge whether the housing market is shifting towards a buyer’s or seller’s market.
Integration with Local Insights
Redfin can connect users with local real estate agents who can provide additional context and insights from the field, enhancing the understanding of the data.
Conclusion
In summary, the Redfin Data Center is a powerful tool that combines extensive housing market data with user-friendly visualization and sharing capabilities, making it an invaluable resource for anyone looking to understand and navigate the real estate market.