4 ms·
The average homes in the Bay Area are much higher than in many, if not most, parts of the US. Also, lots of inventory move, and this is the second time in abou
by steven2012 14y ago
The average homes in the Bay Area are much higher than in many, if not most, parts of the US. Also, lots of inventory move, and this is the second time in about 10 years where the markets have gone "crazy".
If they sell one home in the Bay Area, it could be the equivalent of 5-8 homes in the MidWest where houses average 150k. If I were Redfin, I would try to ensure that my system worked in these "big fish" market where the revenues would be higher, regardless of what the market conditions are, instead of trying to work in the smaller, less expensive markets where you would need to make up for a lot more volume just to get equivalent revenues.