GITNUX MARKETDATA REPORT 2024

The Most Surprising Zillow Statistics And Trends in 2024

With sources from: zillowgroup.com, nar.realtor, static.seekingalpha.com, showingtime.com and many more

In this post, we explore a comprehensive overview of Zillow, one of the leading real estate platforms in the United States. With a range of statistics highlighting its reach, revenue sources, and impact on the housing market, Zillow’s influence in the real estate industry is unmistakable. From its innovative Zestimate algorithm to its robust database of property information, Zillow continues to revolutionize how buyers, sellers, and real estate professionals navigate the housing market landscape.

Statistic 1

"Zillow's Premier Agent program had over 90,000 real estate agents as of 2021."

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Statistic 2

"In 2021, Zillow Group's market capitalization reached over $31 billion."

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Statistic 3

"Zillow attracts over 196 million unique visitors to its websites and mobile apps every month."

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Statistic 4

"60% of millennials and Gen Z buyers used Zillow or other real estate apps to search for homes."

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Statistic 5

"92% of homes listed on Zillow receive a Zestimate valuation."

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Statistic 6

"Zillow hosts data on over 110 million U.S. homes, including those not currently for sale."

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Statistic 7

"Zillow Offers purchased 8,143 homes in Q3 2021."

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Statistic 8

"Zillow's mobile app has been downloaded over 10 million times."

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Statistic 9

"36% of sellers found their agent through a referral from friends, neighbors, or relatives, and Zillow provides a platform for these agent connections."

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Statistic 10

"In 2020, Zillow's revenue was $3.3 billion."

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Statistic 11

"Zillow's Zestimate algorithm covers approximately 97.5% of active U.S. homes."

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Statistic 12

"Zillow's headquarters are located in Seattle, Washington."

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Statistic 13

"Zillow was founded in 2006 by former Microsoft executives Rich Barton and Lloyd Frink."

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Statistic 14

"Zillow acquired ShowingTime, a scheduling management tool for home showings, in 2021 for $500 million."

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Statistic 15

"Zillow's Zestimate median error rate for on-market homes is approximately 1.9%."

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Statistic 16

"Zillow offers over 70 million for-sale listings on its platform."

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Statistic 17

"Zillow Home Loans originated more than $1 billion in mortgages as of 2020."

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Statistic 18

"Zillow Offers in Atlanta sold homes for an average of $4,000 less than the price they were acquired for."

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Statistic 19

"81% of home buyers use online resources like Zillow in their home search."

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Statistic 20

"Zillow's Rent Zestimate covers more than 80 million homes across the United States."

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Interpretation

In conclusion, Zillow's dominant presence in the real estate market is underpinned by a robust set of statistics that highlight its extensive reach, innovative algorithms, and impressive revenue streams. From the success of its Zestimate valuation model and Premier Agent program to its vast database of property information and significant mobile traffic, Zillow continues to redefine the real estate industry. With a strong market value and strategic acquisitions under its belt, Zillow's impact on the housing market is undeniable.

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