Redfin has long been the most reliable source for agent-listed homes because it provides data straight from the multiple listing service (MLS), where real estate agents list homes. Recently, Redfin became a one-stop shop for new and resale homes by adding information about thousands of just-built homes sourced from NewHomeSource.com, the database many homebuilders use to list their homes. Previously, homebuyers could find MLS-listed new construction homes on Redfin, but they had to ask their agent, search other websites or call up builders’ offices to find out about new developments from builders such as Toll Brothers and Ryland.
“New homes are extremely popular among my clients in San Francisco’s East Bay, where there are so few resale options available,” said Redfin agent Sonal Basu. “With many more new home listings on Redfin, homebuyers in my area no longer have to spend their weekends driving around looking for builder lots or searching multiple websites to find out about new inventory.”
Until now, a home like this just-built $695,990, five-bedroom, four-bath house in Woodbridge, Virginia, listed by Ryland Homes, could have been a chore for a homebuyer to find. But now it is just as easy to find builder-listed homes as it is to find agent- or owner-listed homes. Simply head to your Redfin search bar, click “More Options,” and make sure “New construction homes” is selected.
In today’s competitive market, knowing which homes are available as soon as they become available is critical. Last year, most people who purchased a resale home competed in a bidding war, escalating their offer prices and taking other risks to win. In contrast, just-built homes generally offer a set price, so Redfin agents recommend them to buyers who want to avoid a bidding war. Depending on how long the home has been on the market, buyers can often negotiate a closing credit or other incentives from the builder. However, when there are more buyers than homes available in a development, you’ve got to be first to get the home. With information about builder-listed homes now in consumers’ hands, Redfin tools such as Instant Updates and saved searches can give homebuyers a crucial edge on the competition and help them quickly and easily find a new home.