{"id":338,"date":"2008-02-20T15:50:30","date_gmt":"2008-02-20T23:50:30","guid":{"rendered":"https:\/\/redfindevelop.wpengine.com\/blog\/2008\/02\/for_all_you_data_junkies_out_there.html"},"modified":"2020-10-06T17:08:46","modified_gmt":"2020-10-07T00:08:46","slug":"for_all_you_data_junkies_out_there","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/news\/for_all_you_data_junkies_out_there\/","title":{"rendered":"For All You Data Junkies Out There"},"content":{"rendered":"<p>We\u2019ve been getting local about our markets to see which towns should be hot spots for Redfin. We\u2019re sharing the analysis for all you data junkies out there.<br \/>\n<!--[if gte vml 1]&amp;gt;                                                      --><!--[if !vml]-->Here\u2019s what we already know about <a href=\"http:\/\/www.yelp.com\/biz\/redfin-san-francisco#hrid:VMnttjQB7oQ1BTiF4EuyEg\">Redfin buyers<\/a>: they\u2019re very likely to work in high-tech fields, they usually have a college degree, and they typically buy a house for about $500,000. Like these people:<br \/>\n<a href=\"https:\/\/redfin.com\/stingray\/do\/customers?direct-section=buy\" title=\"Redfin Customers\"><img decoding=\"async\" src=\"..\/files\/2008\/02\/redfin-customer.png\" alt=\"Redfin Customers\" \/><\/a><br \/>\nWe looked for similar demographic characteristics in targeted areas within each of our markets, and combined that with recent activity on Redfin&#8217;s site. The data we considered was:<\/p>\n<ul>\n<li>Visits to <a href=\"https:\/\/redfindevelop.wpengine.com\">Redfin.com<\/a>,      from Google Analytics. Note that Google tracks where people are when they      search, not where they\u2019re searching on the Redfin map.<\/li>\n<li>Redfin closed deals. Useful because many Redfin      buyers hear about us through word of mouth. We got this from our own database,      which surprisingly is only about 50% complete.<\/li>\n<li>Demographics of the area. We considered median      household income, homeownership rate, and percent of population with      bachelors\u2019 degrees or higher, as reported by the US Census. If we couldn\u2019t      find city-level data, we used county data.<\/li>\n<\/ul>\n<p>We used visits to rank order the towns, and then added the other data. The top 20 towns searching on Redfin in the Boston area look like this:<\/p>\n<table border=\"1\">\n<tr>\n<td>City<\/td>\n<td>Redfin.com Visits<\/td>\n<td>Redfin Transactions<\/td>\n<td>Homeownership Rate<\/td>\n<td>Median HH Income<\/td>\n<td>% With Bachelors&#8217;<\/td>\n<\/tr>\n<tr>\n<td>Boston<\/td>\n<td>16.6%<\/td>\n<td>5.3%<\/td>\n<td>32.2%<\/td>\n<td>$39,629<\/td>\n<td>35.6%<\/td>\n<\/tr>\n<tr>\n<td>Somerville<\/td>\n<td>12.2%<\/td>\n<td>5.3%<\/td>\n<td>30.6%<\/td>\n<td>$46,315<\/td>\n<td>40.6%<\/td>\n<\/tr>\n<tr>\n<td>Allston<\/td>\n<td>10.7%<\/td>\n<td>0.0%<\/td>\n<td>32.2%<\/td>\n<td>$39,629<\/td>\n<td>35.6%<\/td>\n<\/tr>\n<tr>\n<td>Brookline Village<\/td>\n<td>5.9%<\/td>\n<td>0.0%<\/td>\n<td>69.7%<\/td>\n<td>$67,066<\/td>\n<td>42.9%<\/td>\n<\/tr>\n<tr>\n<td>Newton<\/td>\n<td>2.1%<\/td>\n<td>0.0%<\/td>\n<td>69.5%<\/td>\n<td>$86,052<\/td>\n<td>68.0%<\/td>\n<\/tr>\n<tr>\n<td>Cambridge<\/td>\n<td>2.0%<\/td>\n<td>15.8%<\/td>\n<td>32.3%<\/td>\n<td>$47,979<\/td>\n<td>65.1%<\/td>\n<\/tr>\n<tr>\n<td>Brighton<\/td>\n<td>1.9%<\/td>\n<td>0.0%<\/td>\n<td>32.2%<\/td>\n<td>$39,629<\/td>\n<td>35.6%<\/td>\n<\/tr>\n<tr>\n<td>Milton<\/td>\n<td>1.9%<\/td>\n<td>0.0%<\/td>\n<td>69.7%<\/td>\n<td>$67,066<\/td>\n<td>42.9%<\/td>\n<\/tr>\n<tr>\n<td>Jamaica Plain<\/td>\n<td>1.7%<\/td>\n<td>5.3%<\/td>\n<td>75.6%<\/td>\n<td>$60,359<\/td>\n<td>27.8%<\/td>\n<\/tr>\n<tr>\n<td>Watertown<\/td>\n<td>1.6%<\/td>\n<td>5.3%<\/td>\n<td>47.0%<\/td>\n<td>$59,764<\/td>\n<td>47.2%<\/td>\n<\/tr>\n<tr>\n<td>Newtonville<\/td>\n<td>1.4%<\/td>\n<td>0.0%<\/td>\n<td>69.5%<\/td>\n<td>$86,052<\/td>\n<td>68.0%<\/td>\n<\/tr>\n<tr>\n<td>Natick<\/td>\n<td>1.3%<\/td>\n<td>0.0%<\/td>\n<td>61.7%<\/td>\n<td>$62,854<\/td>\n<td>43.6%<\/td>\n<\/tr>\n<tr>\n<td>Medford<\/td>\n<td>1.2%<\/td>\n<td>0.0%<\/td>\n<td>58.6%<\/td>\n<td>$52,476<\/td>\n<td>31.7%<\/td>\n<\/tr>\n<tr>\n<td>Charlestown<\/td>\n<td>1.1%<\/td>\n<td>0.0%<\/td>\n<td>32.2%<\/td>\n<td>$39,629<\/td>\n<td>35.6%<\/td>\n<\/tr>\n<tr>\n<td>Arlington<\/td>\n<td>1.1%<\/td>\n<td>0.0%<\/td>\n<td>61.7%<\/td>\n<td>$62,854<\/td>\n<td>43.6%<\/td>\n<\/tr>\n<tr>\n<td>Waltham<\/td>\n<td>0.9%<\/td>\n<td>5.3%<\/td>\n<td>46.0%<\/td>\n<td>$54,010<\/td>\n<td>38.4%<\/td>\n<\/tr>\n<tr>\n<td>Woburn<\/td>\n<td>0.9%<\/td>\n<td>5.3%<\/td>\n<td>61.7%<\/td>\n<td>$62,854<\/td>\n<td>43.6%<\/td>\n<\/tr>\n<tr>\n<td>Framingham<\/td>\n<td>0.9%<\/td>\n<td>0.0%<\/td>\n<td>61.7%<\/td>\n<td>$62,854<\/td>\n<td>43.6%<\/td>\n<\/tr>\n<tr>\n<td>Malden<\/td>\n<td>0.9%<\/td>\n<td>10.5%<\/td>\n<td>43.3%<\/td>\n<td>$45,654<\/td>\n<td>26.2%<\/td>\n<\/tr>\n<tr>\n<td>Concord<\/td>\n<td>0.9%<\/td>\n<td>5.3%<\/td>\n<td>61.7%<\/td>\n<td>$62,854<\/td>\n<td>43.6%<\/td>\n<\/tr>\n<\/table>\n<p>What\u2019s interesting about the Boston data? Well, a lot of the neighborhoods where people are searching for homes- Somerville, Allston, Cambridge- have very low homeownership rates. But if you know Boston, you know that\u2019s because these are where a lot of college students live. They\u2019re mostly in apartments but maybe they\u2019re looking for a place to buy after graduation. Or maybe they\u2019re just blowing off class and surfing the Net.<br \/>\nLet\u2019s go down the coast to Washington DC. This is a big area that covers several counties in Virginia and Maryland, as well as the cities of Washington DC and Baltimore.<\/p>\n<table border=\"1\">\n<tr>\n<td>City<\/td>\n<td>State<\/td>\n<td>Redfin.com Visits<\/td>\n<td>Redfin Transactions<\/td>\n<td>Homeownership Rate<\/td>\n<td>Median HH Income<\/td>\n<td>% With Bachelors&#8217;<\/td>\n<\/tr>\n<tr>\n<td>Washington<\/td>\n<td>DC<\/td>\n<td>20.9%<\/td>\n<td>20.5%<\/td>\n<td>40.8%<\/td>\n<td>$46,211<\/td>\n<td>39.1%<\/td>\n<\/tr>\n<tr>\n<td>Arlington<\/td>\n<td>VA<\/td>\n<td>14.5%<\/td>\n<td>9.1%<\/td>\n<td>43.3%<\/td>\n<td>$66,626<\/td>\n<td>60.2%<\/td>\n<\/tr>\n<tr>\n<td>Baltimore<\/td>\n<td>MD<\/td>\n<td>5.1%<\/td>\n<td>4.5%<\/td>\n<td>50.3%<\/td>\n<td>$29,792<\/td>\n<td>19.1%<\/td>\n<\/tr>\n<tr>\n<td>Falls Church<\/td>\n<td>VA<\/td>\n<td>3.4%<\/td>\n<td>0.0%<\/td>\n<td>60.6%<\/td>\n<td>$82,906<\/td>\n<td>63.7%<\/td>\n<\/tr>\n<tr>\n<td>Takoma Park<\/td>\n<td>MD<\/td>\n<td>2.9%<\/td>\n<td>0.0%<\/td>\n<td>68.7%<\/td>\n<td>$76,957<\/td>\n<td>54.6%<\/td>\n<\/tr>\n<tr>\n<td>Reston<\/td>\n<td>VA<\/td>\n<td>2.7%<\/td>\n<td>2.3%<\/td>\n<td>70.9%<\/td>\n<td>$83,890<\/td>\n<td>54.8%<\/td>\n<\/tr>\n<tr>\n<td>Alexandria<\/td>\n<td>VA<\/td>\n<td>2.7%<\/td>\n<td>6.8%<\/td>\n<td>40.0%<\/td>\n<td>$60,715<\/td>\n<td>54.3%<\/td>\n<\/tr>\n<tr>\n<td>Dunn Loring<\/td>\n<td>VA<\/td>\n<td>2.2%<\/td>\n<td>0.0%<\/td>\n<td>70.9%<\/td>\n<td>$83,890<\/td>\n<td>54.8%<\/td>\n<\/tr>\n<tr>\n<td>Chevy Chase<\/td>\n<td>MD<\/td>\n<td>2.0%<\/td>\n<td>2.3%<\/td>\n<td>68.7%<\/td>\n<td>$76,957<\/td>\n<td>54.6%<\/td>\n<\/tr>\n<tr>\n<td>Merrifield<\/td>\n<td>VA<\/td>\n<td>1.9%<\/td>\n<td>0.0%<\/td>\n<td>70.9%<\/td>\n<td>$83,890<\/td>\n<td>54.8%<\/td>\n<\/tr>\n<tr>\n<td>Rockville<\/td>\n<td>MD<\/td>\n<td>1.8%<\/td>\n<td>2.3%<\/td>\n<td>68.7%<\/td>\n<td>$76,957<\/td>\n<td>54.6%<\/td>\n<\/tr>\n<tr>\n<td>Herndon<\/td>\n<td>VA<\/td>\n<td>1.7%<\/td>\n<td>0.0%<\/td>\n<td>70.9%<\/td>\n<td>$83,890<\/td>\n<td>54.8%<\/td>\n<\/tr>\n<tr>\n<td>Oakton<\/td>\n<td>VA<\/td>\n<td>1.7%<\/td>\n<td>0.0%<\/td>\n<td>70.9%<\/td>\n<td>$83,890<\/td>\n<td>54.8%<\/td>\n<\/tr>\n<tr>\n<td>West Mclean<\/td>\n<td>VA<\/td>\n<td>1.6%<\/td>\n<td>0.0%<\/td>\n<td>70.9%<\/td>\n<td>$83,890<\/td>\n<td>54.8%<\/td>\n<\/tr>\n<tr>\n<td>Bethesda<\/td>\n<td>MD<\/td>\n<td>1.5%<\/td>\n<td>0.0%<\/td>\n<td>68.7%<\/td>\n<td>$76,957<\/td>\n<td>54.6%<\/td>\n<\/tr>\n<tr>\n<td>Sterling<\/td>\n<td>VA<\/td>\n<td>1.4%<\/td>\n<td>0.0%<\/td>\n<td>NA<\/td>\n<td>$NA<\/td>\n<td>NA<\/td>\n<\/tr>\n<tr>\n<td>Fairfax<\/td>\n<td>VA<\/td>\n<td>1.3%<\/td>\n<td>0.0%<\/td>\n<td>70.9%<\/td>\n<td>$83,890<\/td>\n<td>54.8%<\/td>\n<\/tr>\n<tr>\n<td>Annandale<\/td>\n<td>VA<\/td>\n<td>1.3%<\/td>\n<td>2.3%<\/td>\n<td>70.9%<\/td>\n<td>$83,890<\/td>\n<td>54.8%<\/td>\n<\/tr>\n<tr>\n<td>Garrett Park<\/td>\n<td>MD<\/td>\n<td>1.3%<\/td>\n<td>0.0%<\/td>\n<td>68.7%<\/td>\n<td>$76,957<\/td>\n<td>54.6%<\/td>\n<\/tr>\n<tr>\n<td>Vienna<\/td>\n<td>VA<\/td>\n<td>1.2%<\/td>\n<td>2.3%<\/td>\n<td>70.9%<\/td>\n<td>$83,890<\/td>\n<td>54.8%<\/td>\n<\/tr>\n<\/table>\n<p>Washington DC and Arlington ranked near the top, which wasn\u2019t surprising to us. What was surprising was <a href=\"http:\/\/www.believermag.com\/issues\/200708\/?read=interview_simon\">Baltimore<\/a>: not often regarded as a tech center, and with a much lower median household income than Washington DC, the citizens of Baltimore showed themselves to be quite tech-savvy by searching Redfin for homes to buy (full disclosure: I\u2019m from Baltimore).<br \/>\nFlying across the country to our home market of Seattle, we found some odd patterns. Note that in this data set we didn\u2019t include the three demographic variables from census data, but we did include more of the Google Analytics statistics about the behavior of visitors.<\/p>\n<table border=\"1\">\n<tr>\n<td>City<\/td>\n<td>Redfin.com Visits<\/td>\n<td>Redfin Transactions<\/td>\n<td>Bounce Rate<\/td>\n<\/tr>\n<tr>\n<td>Seattle<\/td>\n<td>46.1%<\/td>\n<td>43.2%<\/td>\n<td>2.8%<\/td>\n<\/tr>\n<tr>\n<td>Bellevue<\/td>\n<td>15.9%<\/td>\n<td>24.6%<\/td>\n<td>1.9%<\/td>\n<\/tr>\n<tr>\n<td>Kirkland<\/td>\n<td>9.3%<\/td>\n<td>5.3%<\/td>\n<td>1.8%<\/td>\n<\/tr>\n<tr>\n<td>Medina<\/td>\n<td>4.3%<\/td>\n<td>0.1%<\/td>\n<td>2.2%<\/td>\n<\/tr>\n<tr>\n<td>Mercer Island<\/td>\n<td>2.9%<\/td>\n<td>1.0%<\/td>\n<td>2.4%<\/td>\n<\/tr>\n<tr>\n<td>Lynnwood<\/td>\n<td>2.7%<\/td>\n<td>3.2%<\/td>\n<td>2.0%<\/td>\n<\/tr>\n<tr>\n<td>Seahurst<\/td>\n<td>2.6%<\/td>\n<td>0.0%<\/td>\n<td>2.8%<\/td>\n<\/tr>\n<tr>\n<td>Redmond<\/td>\n<td>2.0%<\/td>\n<td>2.5%<\/td>\n<td>2.4%<\/td>\n<\/tr>\n<tr>\n<td>Renton<\/td>\n<td>2.0%<\/td>\n<td>3.3%<\/td>\n<td>1.8%<\/td>\n<\/tr>\n<tr>\n<td>Bothell<\/td>\n<td>1.5%<\/td>\n<td>1.1%<\/td>\n<td>2.1%<\/td>\n<\/tr>\n<tr>\n<td>Tacoma<\/td>\n<td>1.2%<\/td>\n<td>1.1%<\/td>\n<td>3.4%<\/td>\n<\/tr>\n<tr>\n<td>Federal Way<\/td>\n<td>1.1%<\/td>\n<td>1.2%<\/td>\n<td>2.3%<\/td>\n<\/tr>\n<tr>\n<td>Mountlake Terrace<\/td>\n<td>0.9%<\/td>\n<td>0.1%<\/td>\n<td>2.4%<\/td>\n<\/tr>\n<tr>\n<td>Kent<\/td>\n<td>0.8%<\/td>\n<td>1.6%<\/td>\n<td>2.4%<\/td>\n<\/tr>\n<tr>\n<td>Mukilteo<\/td>\n<td>0.8%<\/td>\n<td>0.0%<\/td>\n<td>1.9%<\/td>\n<\/tr>\n<tr>\n<td>Kenmore<\/td>\n<td>0.7%<\/td>\n<td>0.2%<\/td>\n<td>2.0%<\/td>\n<\/tr>\n<tr>\n<td>Bremerton<\/td>\n<td>0.6%<\/td>\n<td>0.0%<\/td>\n<td>5.3%<\/td>\n<\/tr>\n<tr>\n<td>Puyallup<\/td>\n<td>0.5%<\/td>\n<td>0.6%<\/td>\n<td>3.8%<\/td>\n<\/tr>\n<tr>\n<td>Spokane<\/td>\n<td>0.4%<\/td>\n<td>0.0%<\/td>\n<td>30.5%<\/td>\n<\/tr>\n<tr>\n<td>Auburn<\/td>\n<td>0.3%<\/td>\n<td>0.6%<\/td>\n<td>1.6%<\/td>\n<\/tr>\n<\/table>\n<p>The best brain candy in the Seattle area data-set, in my opinion, is <a href=\"https:\/\/redfin.com\/stingray\/do\/listings-search#residential=true&amp;condo=true&amp;lat=47.62694580155183&amp;long=-122.23133686614865&amp;zoomLevel=13&amp;region_id=11400&amp;region_type=6&amp;market=seattle\">Medina<\/a>. This city is right on the coast of Lake Washington and has some <a href=\"https:\/\/redfin.com\/stingray\/do\/printable-listing?listing-id=1213200\">pricey real estate<\/a>. It\u2019s a small area, and so it\u2019s not surprising that Redfin has closed few deals there. What is surprising is that Medina is the fourth largest searcher in Seattle. Could it be that Medina\u2019s most famous resident, Bill Gates, is addicted to searching real estate on Redfin?<br \/>\nAlso interesting is the data for Spokane, where Redfin has a lot of searchers but a high <a href=\"http:\/\/www.google.com\/adwords\/learningcenter\/text\/38069.html\">bounce rate<\/a>. Bounce rate is when a searcher finds a site and immediately leaves it. The searchers of Spokane probably realized that Redfin doesn\u2019t have service in Spokane, and left. This makes me think that Redfin should add coverage in Spokane.<br \/>\nData on our California markets isn\u2019t included here. In San Francisco, the exercise was less illuminating because San Francisco and San Jose by far dominated our search results and closed deals. We can get more granular data, down to the neighborhood level, but we didn\u2019t for this exercise. Ditto for Southern California.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>We\u2019ve been getting local about our markets to see which towns should be hot spots for Redfin. We\u2019re sharing the analysis for all you data junkies out there. Here\u2019s what we already know about Redfin buyers: they\u2019re very likely to work in high-tech fields, they usually have a college degree, and they typically buy a [&hellip;]<\/p>\n","protected":false},"author":13096,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[8],"tags":[],"dashboard":[],"coauthors":[],"class_list":["post-338","post","type-post","status-publish","format-standard","hentry","category-housing-market-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.7 (Yoast SEO v27.7) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>For All You Data Junkies Out There - Redfin Real Estate News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.redfin.com\/news\/for_all_you_data_junkies_out_there\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"For All You Data Junkies Out There\" \/>\n<meta property=\"og:description\" content=\"We\u2019ve been getting local about our markets to see which towns should be hot spots for Redfin. We\u2019re sharing the analysis for all you data junkies out there. 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