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In 2019, the United states iBuyer market value was estimated at $326.4 billion USD. The market share of the iBuyer market in terms of value of Redfin, Compass, Exp Realty, Opendoor, Zillow, and Offerpads was 0.24%, 0.69%, 0.30%, 0.61%, 0.42, and 0.01%, respectively in the same year. Details of our findings, calculations, and each company have been provided below.

  • In 2019, the United States iBuyer market size in terms of value was estimated at $326.4 billion USD (calculated).
  • In 2018, the United State iBuyer market size in terms of houses sold was estimated at 31,800 (calculated).
  • In 2018, there were approximately 5.3 million homes sold in the United States with 622,000 new homes.
  • In 2019, the iBuyer market held approximately 1.2% of the total United States real estate market doubled from 0.6% in 2018.
  • In 2019, the United States residential real estate market was valued at $27.2 trillion USD.
  • Calculations:
    • iBuyer Market Value: $27.2 trillion (US market size)*.012(percent of ibuyer market)= $326.4 billion USD.
    • iBuyer Market Size (quantity): 5.3 million (US houses sold)*.006(percent of ibuyer market)= 31,800 homes sold.
  • Trends:
    • Social media was the most popular source of finding digital realtors.
    • Digital buyer demographics:
    • Older Millennials: 81%
    • Younger Millennials: 80%
    • Gen X: 78%
    • Young Boomers: 68%

Redfin

  • According to the above calculated market value, Redfin held a market share of 0.24% of the iBuyer market.
  • Redfin held a market share of 0.94% in terms of value of the digital real estate market in 2019 according to their financial highlights.
  • In 2019, Redfin generated revenue in the amount of $780 million USD which was a 60% YoY increase. The gross profit was $144 million, a 21% YoY increase.
  • The company does not disclose the number of houses sold on an annual basis.
  • Calculations:
    • Digital Market Value: 780 million (Redfin revenue)/326.4 million (market size)= 0.24%

Compass

  • Compass held a market share of 0.69% of the digital market in 2019.
  • In 2019, Compass generated an estimated revenue of $2.25 billion.
  • The company does not disclose the number of houses sold on an annual basis.
  • Calculations:
    • Digital Market Value: 2.25 billion (Compass revenue)/326.4 billion (market size)=0.69%

Exp Realty

  • Exp Realty held a market share of 0.30% of the iBuyer market in 2019.
  • In 2019, Exp Realty generated revenue in the amount of $980 million, a 96% YoY increase. Gross profit was valued at $84.1 million, a 108% YoY increase.
  • The company does not disclose the number of houses sold on an annual basis.
  • Calculations:
    • Digital Market Value: $980 million (Exp Realty homes sold)/326.4 billion (market size)=0.30%

Opendoor

  • Opendoor held a market share of 31.86% in terms of the number of homes sold in 2018 and 0.61% in terms of value of the iBuyer market in 2019.
  • The company held 0.19% of the total real estate market in terms of homes sold in 2018.
  • In 2018, Opendoor sold 10,130 homes in the United States.
  • In 2018, Opendoor was valued at $2 billion USD from United States sales.
  • Calculations:
    • Total Market Quantity: 10,130 (Opendoor homes sold)/5.3 million (number in the United State)=0.19%
    • Digital Market Quantity: 10,130 (Opendoor homes sold)/31,800 (number of iBuyer homes sold)=31.86%
    • Digital Market Value: 2 billion (Opendoor revenue)/326.4 billion (market size)= 0.61%

Zillow

  • Zillow held a market share of 0.54% in terms of the number of homes sold in 2018 and 0.42% in terms of value of the iBuyer market in 2019.
  • The company held 0.003% of the total real estate market in terms of homes sold in 2018.
  • In 2018, Zillow sold 171 homes in the United States.
  • In 2019, Zillow generated $1.37 billion in revenue from home sales.
  • Calculations:
    • Total Market Quantity: 171 (Zillow homes sold)/5.3 million (number in the United State)=0.003%
    • Digital Market Quantity: 171 (Zillow homes sold)/31,800 (number of iBuyer homes sold)=0.54%
    • Digital Market Value: 1.37 billion (Zillow revenue)/326.4 billion (market size)=0.42%

Offerpads

  • Offerpads held a market share of 1.01% in terms of the number of homes sold in 2018 and % in terms of value of the iBuyer market in 2019.
  • The company held 0.06% of the total real estate market in terms of homes sold in 2018.
  • In 2018, Offerpads sold 3,209 homes in the United States.
  • In 2019, the company had an estimated annual revenue of $34.7 million USD.
  • Calculations:
    • Total Market Quantity: 3,209 (Offerpads homes sold)/5.3 million (number in the United State)=0.06%
    • Digital Market Quantity: 3,209 (Offerpads homes sold)/31,800 (number of iBuyer homes sold)=1.01%
    • Digital Market Value: 34.7 million (Offerpads revenue)/326.4 billion (market size)= 0.01%
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