Redfin may be on track to overtake realtor.com as the second most trafficked real estate website. While Zillow maintains strong first-place lead, Redfin’s growth is far-outpacing realtor.com and the site may be poised to take second place by 2020.
- Redfin’s growth was ten times more than realtor.com in Q3 2017
- Redfin has about 14% of Zillow’s traffic, but gained close to the same amount of monthly unique users
- Realtor.com showed mild growth that lags far behind Redfin and Zillow
The numbers don’t lie. They show that Redfin has the pace to take over realtor.com as the second most trafficked real estate website by 2020. While a three-year forecast based on just one earnings report likely won’t hold, Redfin’s growth comes from some game-changing business decisions and could easily hold-up for the foreseeable future.
Here are the numbers from each company’s Q3 2017 earnings report:
- Zillow reported 175 million average monthly unique users, up 6.7% year-over-year
- com reported 55 million average monthly unique users, up 3.8% year-over-year
- Redfin report 24 million average monthly unique users, up 38% year-over-year
What’s more impressive is the hard number of unique users each site added. Although Redfin has less total average monthly unique users than Zillow and Realtor.com by far, their growth was the most impressive. Redfin added 7 million unique users in the past year, while realtor.com added 2 million and Zillow added 9 million.
Here’s what happens if they maintain that growth rate:
Of course, there are many variables that could change this prediction, but Redfin has been posting strong growth and making competitive moves to maintain it. The company just expanded their 1% listing fee into 18 new markets and is pushing into the originations business with Redfin Mortgage.
While this is still speculation, Redfin appears to be seriously threatening realtor.com’s position as the second most trafficked real estate website.