The housing market never loses its appeal, and Zillow just knows the best way to take advantage of this.

The platform is the most-visited real estate website in the United States for a reason. 

In this article, let us explore the nooks and crannies of the latest Zillow statistics and find out interesting facts about this popular site in 2023. 

Key Zillow Statistics

• Zillow is the most popular real estate website in the United States with more than 300 million website visitors in March 2023
• It made its debut as a public company in the NASDAQ in 2011 under the ticker symbol “ZG”
• The site boasts 93.2 million unique visitors every month
• 20% of Zillow’s visitors intend to buy a property on the site
• Zillow reported its highest revenue to date in 2019 at $2.74 billion
• Despite its success and popularity, Zillow is still an unprofitable venture. It reported an annual net loss amounting to $1.96 billion in 2022

Detailed Zillow Statistics in 2023

1. Zillow Was Founded in 2004

Zillow is a real estate company founded in 2004.

It deliberates and publishes an updated list of real estate metrics which include median home values in a certain state, rental properties, sale prices of homes, and forecasts. 

(Zillow Group)

2. It Is a Publicly-Traded Company 

Zillow made its initial public offering on the NASDAQ under the ticker “ZG” in 2011.

It made a resounding public debut, with its stock price skyrocketing 200% just minutes after launch. 

It is currently trading $44.06 apiece, up 4.35% year-on-year.

ZG’s price range within a year is between $26.21 to $48.48, with an average trading volume of 396,600. 

(Google Finance)

3. Zillow’s Visitor Traffic Is the Largest in The United States

According to research, its website boasts 60 million monthly visitors in 2022.

But latest statistics from the website tracker Similar Web shows it is more than that. 

In March 2023, Zillow’s website generated 307.7 million monthly visits, up from 270.6 million in February the same year.

Moreover, the latest statistics is better than its January settlement of 300.5 million. 

(Similar Web)

4. 96.42% of Zillow’s Total Website Traffic Comes from The United States

In terms of geography, Zillow’s main customers come from the United States. The country accounts for 96.42% of its total website traffic. 

Canada follows with 0.78%, the Philippines at 0.28%, the United Kingdom comes next at 0.22%, and India at 0.19%. 

(Similar Web)

5. The Majority of Zillow’s Patrons Are 25 to 34 Year Olds

23.23% of Zillow’s website traffic comes from users aged 25 to 34 years old.

This makes them the biggest contributor to the site’s traffic.

Those 35 to 44 years old follow at 19.69%, 45 to 54 years old come next at 16.70%. 

Meanwhile, 15.78% are from users aged 18 to 24 years old, while 14.90% of the site’s traffic generates from 55 to 64 years old. 

(Similar Web)

6. Zillow Is Also the Most Popular Website in Terms of The Number of Unique Monthly Visitors

Zillow generates 93.2 million unique visitors every month, leading the race against other real estate sites.

Its close competitors include realtor.com which reported 50.2 million unique visitors monthly. 

Other sites that made the list are as follows:

• Redfin – the site generates an average of 30.3 million unique visitors every month
• Apartments.com – the site generates an average of 24.1 million unique visitors every month
• Trulia – the site generates an average of 20.4 million unique visitors every month
• Movoto.com – the site generates an average of 11.2 million unique visitors every month
• Loopnet.com – the site generates an average of 6.9 million unique visitors every month
• Homes.com – the site generates an average of 6.6 million unique visitors every month
• Remax.com – the site generates an average of 6.5 million unique visitors every month
• Coldwell Banker Homes – the site generates an average of 6.0 million unique visitors every month

(iProperty Management)

7. 95% of People Rely on Online Platforms Before Buying a Home

Ever wondered why Zillow became such a hit despite the vulnerability of the housing market?

It is because research shows 95% of all people interested in buying a home turn online to look up the acquisition process first. 

Moreover, 51% of these find the home of their dreams online, while only 28% find a home from a physical real estate company or a realtor. 

(iProperty Management)

8. Nearly 20% of Zillow’s Visitors Intend to Buy a Home

According to the latest Zillow statistics, 18% of Zillow’s visitors and lurkers go to the site for the purpose of buying a home.

3% of them make an actual purchase, while 6% end up renting a property. 

(iProperty Management)

9. Two Million Real Estate Professionals Have Property Listings on Zillow

Two million real estate agents and professionals have a property listing or two on Zillow.

More than 92,000 of which are considered “Premier Agents” while the site generated close to 17 million leads for agent advertisers within a year in 2022.

(Zillow Group)

10. Zillow’s Revenue Peaked in 2019, Just Before the Pandemic Hit

Zillow’s annual revenue hit its highest in 2019 at $2.74 billion.

This is a time before the pandemic hit the housing market hard, causing instability in prices. 

Take a look at the company’s annual revenue from 2017 to 2022:

• 2017 – Zillow reported an annual revenue of $1.08 billion during the year
• 2018 – Zillow reported an annual revenue of $1.33 billion during the year
• 2019 – Zillow reported an annual revenue of $2.74 billion during the year
• 2020 – Zillow reported an annual revenue of $1.62 billion during the year
• 2021 – Zillow reported an annual revenue of $2.13 billion during the year
• 2022 – Zillow reported an annual revenue of $1.96 billion during the year

(Ruby Home Luxury Real Estate)

11. Zillow Earns More from Website Traffic than Rental Commission

Studies show a large percentage of Zillow’s annual revenue comes from its Internet, Media, and Technology (IMT) segment.

It accounts for 93.9% of the company’s annual revenue, leaving only 6.01% to the Mortgage segment. 

(Zillow Group)

12. Zillow Is Not a Profitable Company Just Yet

Despite its impressive revenue and popularity, Zillow is not a profitable company yet.

It consistently reported net losses from 2017 to 2022. 

• 2017 – Zillow reported a net loss amounting to $94 million during the year
• 2018 – Zillow reported a net loss amounting to $120 million during the year
• 2019 – Zillow reported a net loss amounting to $305 million during the year
• 2020 – Zillow reported a net loss amounting to $162 million during the year
• 2021 – Zillow reported a net loss amounting to $528 million during the year
• 2022 – Zillow reported a net loss amounting to $101 million during the year

Conclusion

Nowadays, people are more likely to invest in a property they see online than going the lengths to personally look around. 

It’s time saving, cost saving, and lets you see a good number of properties that would align with the standard you are looking for. 

Many businesses are built off solely off the back of scraping Zillow with proxies, and you can see why – it’s a giant in the real estate industry.

Thanks for reading these Zillow statistics in 2023.

It is time to browse through the Zillow site and look for your own home!

Sources