Redfin seeing many multiple offer scenarios in Chicago real estate
751 views · Published 1 June 2012 · 6:30 · Indexed 22 September 2026
Channel: YoChicago | Chicago Luxury Apartment Tours · 2012 · Howto & Style
Redfin's Dario Medina and Mark Reitman stopped by my office the other day for an off-the-cuff discussion of Redfin's business model and some of the trends its agents have been seeing recently in the Chicago real estate market. One topic I tossed out for discussion was multiple offers. According to Medina, 37% of Redfin's local transactions in April involved multiple offers. That's a number that many may find surprising. One aspect of Redfin's corporate culture is an obsession with metrics. In a follow-up email I learned that Chicago's percentage lagged San Francisco and DC, where 81% and 45% of Redfin deals, respectively, involved multiple offers. From March 16 to May 16 of this year, 545 Chicago-area homes sold for more than 10% above the list price. Dario Medina is Redfin's Chicago Area Manager. Mark Reitman is Redfin's Central US Regional Director.
