AnalysisTechnology

4 key metrics telling the story of Opendoor’s growth

Homes sold, prep days and gross margin underscore how the iBuyer is leading the pack

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Opendoor, the real estate startup that purchases homes directly from sellers, leads the pack of a new breed of real estate tech companies. It continues to innovate and improve the experience of buying and selling a home, and as the analysis below shows, the "iBuyer" is making significant improvements to its business model as it continues to grow. Here are four telling numbers related to Opendoor's current operations. 150%: Growth in homes sold I believe Opendoor’s ultimate metric of success is how many homes it sells. More than just buying homes (which anyone can do with enough money), the successful completion of Opendoor’s business model requires it to re-list and sell the homes it buys. So it should come as no surprise that the first key number -- 150 percent -- is the growth in homes Opendoor has sold in 2017 compared to the same period last year in its two biggest markets, Phoenix and Dallas. The year-over-year growth is driven by Dallas, which came online in Sept...