The iBuyer plans to make offers on homes in Salt Lake City and Boise later this year, followed by St. Louis in 2020, the company announced Tuesday.

Opendoor, the oldest and best-known dedicated iBuyer in the United States, announced Tuesday that it plans to expand into St. Louis, Missouri, as well as multiple cities in the Mountain West.

Main Street in Salt Lake City. Credit: georgeclerk and Getty Images

The expansion into Salt Lake City, Utah, and Boise, Idaho — both major hubs in the Rocky Mountain region — will take place later this year, according to a statement from Opendoor. The company will then begin making cash offers on homes in the St. Louis area in “early 2020.”

Opendoor’s statement also mentions that the company is currently hiring, and looking for construction partners, in all three new cities.

Thanks to a steady pattern of geographic expansion, Opendoor now operates in 20 markets across the U.S. Many of those markets, such as Phoenix and Atlanta, are iBuying hotspots that are also well-covered by other companies such as Offerpad, Redfin or Zillow — the latter two of which have growing iBuying programs in addition to other products.

However, Opendoor has also pushed into some metro areas, such as Los Angeles, which are slightly more complicated because they include a significant number of homes that are older, more expensive or otherwise less conventional than those typically targeted by iBuyers.

Last week, Opendoor also announced it will start making cash offers on behalf of buyers, marking a significant new service for a company that had previously focused its energies on helping sellers.

Asked why Opendoor choose Salt Lake City, Boise and St. Louis, a company spokesperson told Inman that “we evaluate by looking at an area’s growth potential, fundamentals, demographics and housing stock.”

“These are all sizable, growing markets, so we’ve just been assessing the right moment to launch,” the spokesperson added.

Boise and Salt Lake City in particular have seen both population and housing prices grow in recent years. The cities have additionally benefited from an influx of coastal Americans priced out of cities like San Francisco and Seattle.

Boise, Idaho. Credit:
Darwin Fan and Getty Images

Those trends recently helped make Boise one of the so-called “hottest” areas for home sales in the U.S., and allowed Salt Lake City to post the fastest growth of “creative class” jobs — or high-skilled, knowledge-based jobs that tend to pay well — in the nation.

Those conditions would presumably be attractive to Opendoor, which benefits from continued housing demand and price appreciation as it buys houses, does basic renovations, then attempts to sell them at a profit.

In addition to announcing a three-city expansion, Opendoor also said Tuesday it “recently hit a major milestone.”

“We’ve helped more than 50,000 customers buy or sell homes on their timeline,” the company said in a statement, “giving them back many hours of time and allowing them to move on to their next chapter, hassle-free.”

Email Jim Dalrymple II

Show Comments Hide Comments


Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Thank you for subscribing to Morning Headlines.
Back to top
The best event in real estate kicks off next week! Tickets are selling quickly.Register Now×
Limited time: Get 30 days of Inman Select for $5.SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription