This is a great question that’s challenging to answer because of the limited number of listings we’ve done in Southern California.  We launched our current listing offering last July, just prior to a dramatic change in the market that occurred last August as a result of the subprime loan fallout. With the conditions being what they are, listings continue to be a fledgling part of our business in this market.  Our sellers who have put together well-prepared and properly-priced listings have been successful in selling.  To answer your question about data, our Seattle market is the one that has enough statistical mass to be worthy of quoting.  There, the Avg. Days on Market for Redfin clients is 33 vs. 37 for the market in general, while the Sell vs. List price is even with the market at large.

In the end, Redfin is committed to our client’s success.  The current Southern California market is a tough one, and the hardest thing for sellers is finding the right price point. Buyers are very concerned about current value, as well as the future market expectations.  As a result, pricing to entice an offer is the biggest challenge any seller is facing right now.

The Real Estate Scientist is Redfin's program to develop data-driven best practices for buying and selling homes. This guidance is based on the best academic research and our own analyses of listing databases and website traffic. Please follow the link below for more information:

http://www.redfin.com/stingray/do/the-real-estate-scientist?direct-section=sell

Thanks for your question.