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by CareyBot

Online real estate broker Redfin today released a new online mapping tool and reported its first real estate closings using the company's online home-purchase offer program. Redfin's new MapStats takes property and community analytics and overlays them on a home-search map so that as home shoppers pan across the map, it continuously calculates average and media home prices, price per square foot and average numbers of bedrooms and bathrooms for the listings enclosed by the map. This enables home shoppers to compare a listing to the rest of the neighborhood. The Seattle-based company has applied for a patent on the technology. "When home-shoppers shift as little as a few hundred yards in any direction, numbers change radically and in real time," said Redfin founder David Eraker...