Eye-opening Zillow Statistics and Trends You Must Know in 2023
The real estate rush is on. Enter Zillow, the real estate website on a mission - to empower home buyers and investors with data.
In 2021 alone, Zillow had over 209 million users searching for their perfect property match. And for those looking to sell? Zillow attracts over 40 million home shoppers each month. Listings on Zillow sell quicker, typically 73 days faster than those not posted. When leveraging the site, sellers can expect 2.5% more on the sale price.
Zillow is growing rapidly. Its revenue shot up to $8.1 billion in 2021, a 70% jump from the previous year. The company now boasts over 5,000 employees and an eye-popping market valuation of $18 billion.
The numbers speak for themselves. Zillow has become the go-to guide in this wild real estate landscape, empowering buyers and sellers alike. Let's explore all key Zillow statistics to understand the platform's influence better.
Key Zillow Statistics for 2023
- In 2021 and 2022, Zillow lost approximately 218 million in its annual gross profit.
- It had a growth of 354% in the number of monthly visits to its website from 2021 to 2023.
- Zillow's labor force was experiencing fluctuations; between 2020 and 2021, there was a rise from 5,200 to 8,005, respectively, and then a reduction to 5,724 in 2022.
- Zillow total revenue stat was $2.13 billion in 2021 and $1.96 billion in 2022.
- Expenditure: During 2021 and 2022, the company spent $1.89 and $2,10 billion, respectively.
- September 2023 organic web traffic stat: It had 63.89 million and 1.79 million paid traffic in the US.
1. Zillow Group is a dream-come-true' 2006 innovation of Lloyd D. Frink and Rich Barton.
2. With its headquarters in Seattle, Washington DC, and the United States, it was ready to hit the public with three-tier business categories: mortgage sections, homes section, media, internet, and technology category.
3. As of October 27, 2023, Zillow's net worth was $8.87 billion, a rank No. 788, a business worth 7.34 billion, and a stock value of $37.32.
4. This eye-catching rise in stock's worth marked a 1-year positive change of 27.71%.
5. Zillow's mean monthly visitors' stat showed a 1% decline (from 200 to 198 million) in 2021, with a U-turn rise of 11% (220 million) in its value that same year.
6. Zillow's gross profit rose between 2019 and 2020 to $1.369 billion (14.2%), notable with a progressive increase to $1.809 billion (32.14%) rise. However, there was a drop of $1.591 billion (12.05%) and a further (1.23%) in its value in 2023.
Zillow Statistics of Appropriation
7. There was a record of a steady rise in the number of visits to its properties from 2016 to 2021. The record is as follows:
8. 5.323 billion visits in 2016, 6.314 billion in 2017, 7.182 billion in 2017, and 8 billion in 2019. That was just the beginning of it all! In 2020, it rose to 9.6 billion, and 10.2 billion visits in 2021.
9. In 2020, there were approximately 80 million users at Zillow, with about 110 million homes in the US. Last June 2023, Zillow predicted sales of 4.2 million existing homes in 2023. This shows a decline of 17% from its projection in 2022.
10. However, there is an expected value appreciation of 5.7% in 2023. Owing to that prediction, the value of houses would increase by 6.5% between July 2023 and July 2024.
Zillow Buyer and User 2023 Statistics
11. Zillow features 135 million homes and at least 451 thousand properties in their listing for sale in US marketplaces.
12. According to the 2019 report, approximately 41% of Trulia's or Zillow's former visitors were to sell or buy a home after their visitation. From August 2023 records, 62% of the prospective buyers and sellers were still sharing home ownership with others.
13. Statistics presented 37% of Zillow's niche as people whose income is at most $100,000.
14. an average site visitor spends at most 6 minutes and 21 seconds per visit. However, 15 pages of Zillow's sites were flooded by visitors on each alluring visit!
15. 61.7% of Zillow's staff were white, and out of 8,005 employees in 2021, 5,724 stayed put till 2022, resulting in a decline of 29%.
16. Statistics show that 57.3% of employees at Zillow are males, and 65.1% occupy management positions.
17. The online real estate marketplace has 10 office locations, one at 1250 Broadway, New York 10001, US.
Zillow's Revenue Statistics for 2023
18. Zillow's revenue from 2012 to 2022 rose alarmingly to approximately 10%, as against a report of loss in 2021. The value 2022 was $1.9 billion, less than the $2.1 billion in 2021. Yet again, Zillow's revenue in the second quarter of 2023 was $506 million, as opposed to $1 billion in 2022.
19. Unfortunately, the firm had a net loss of $528 million, with a consistent failure in its net income since 2021.
20. There was a $1.515 billion alarm in its annual expenditure statistics and a 49.34% drop from 2019. The online real estate circulating capital on sales and marketing reached $672.82 million within a twinkling of an eye! Then, in 2021, it was $1.893 billion, representing a 24.95% rise above sea level" in 2020. 2022 Zillow's working expenses were $2.051 billion, marking an 8.35% rise from 2021.
21. Finally, in the 2nd quarter of 2023, the firm is recording $395 million, a rise above $365 million of the 1st quarter.
Zillow's Acquisition Statistics for 2023
22. Acquisition history:In 2010, it acquired Dotloop, Naked Apartments, Tulia, StreetEasy, Hotpads, RentJuice, and Mortgage Lenders of America. In 2011, the acquisition of Postlets, which was a listing firm in the realty industry, and a $7.8 million Diverse Solutions, which was also a marketing firm in the real estate market. Notwithstanding that, in 2020, it acquired VRX Media and ShowingTime, software service companies for realtors, real estate firms, etc.
23. On Zillow's listing were not less than 452 thousand houses (United States), 1,376 properties (New York), 57 houses (Mountain View, CA), 91 homes, and 107 properties (Los Angeles and California, respectively), all for sale.
24. Zillow's sales figure 2022 was approximately 6.9 million houses, representing a yearly lease of up to 9.2 homes. During that year, 81% of its renters confidently looked forward to owning a house, and about 57% couldn't boost for one.
25. Statistics show that US visitors to Zillow's website viewed about 80% of the listed homes.
26. It sold approximately 5,337 properties in 2020 at a mean market price of $320,500.
27. Then, they noticed that in 2022, their site visitors clicked to view 420 million houses each month via mobile devices.
Zillow's Mobile Application Statistics for 2023
28. As of October 20, 2023, there were 10 million+ downloads through the Google Play Store, 4.7-star ratings, plus at least 1.16 million reviews. Furthermore, Zillow's website had 4.8-star ratings via Apple clients for its mobile app downloads.
27. The monthly site and mobile App visitation was 32 million individuals.
28. According to the report, 86 properties were viewed per second via the mobile App.
29. Both visits to its apps and sites amounted to 9 billion per annum.
30. Zillow's organic search traffic was 63.89 million (Semrush, September 2023). According to this report, it is a 12.21% increase above its records 6 months backward. However, a 1.79 million paid search traffic induced a 5.71% drop from that value.
31. In September 2023, the firm's name was utilized as a keyword, which brought over 20 million search volumes plus a 26.45% traffic share within the US.
ConclusionZillow has demonstrated resilience to remain top-notch in housing marketplaces despite numerous obstacles like competition and net income losses. This real estate marketplace has solidified its position as the most reputable brand in the United States. Focusing partly on its website traffic quota in the United States and its efforts, real estate researchers could get useful information for making informed choices. The business valuations show that the firm could continue to surge based on its current stock price, with a positive 1-year change of 27.71%.
FAQs Does Zillow have the hottest home market in the US?Zillow Group discovered some high-market areas in the housing industry within US borders. These places include Miami, Kanas City, Jacksonville, Nashville, Dallas, Pittsburgh, etc.
Is buying Zillow's stock a good investment?Yes! The current performance of the firm's stock, as per these statistics, together with forecasts by professional analysts, proves that it's a good investment. Discoveries show that about 50% out of 10 analysts predict that its stock will have significant buying pressure in the future.
Does Zillow have an Advantageous Edge?The company's advantageous edge against competitors lies in its solid marketplace position and large audience.
Is Zillow's Premier Agent popular?Yes! A total of 1,4 million prospective buyers requested the service of its Premier Agents.
What does it cost to list homes on Zillow?House listing on Zillow's website and mobile App is free. However, some of its services aren't free.
Sources- Macrotrends
- Zillow
- Google Play Store
- DMR Business Statistics
- Zillow
- Macrotrends
- iProperty
- Zillow
- The Small Business Blog
- Zillow
- Ruby Home
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