Sotheby's International Realty U.S. Sales Volume Outpaces Industry Average by Nearly Double
Globally, Luxury Real Estate Brand Achieves US$157 Billion in 2024 Sales Volume
NEW YORK, Feb. 18, 2025 /PRNewswire/ -- Sotheby's International Realty is pleased to announce its 2024 U.S. sales volume increased 9.4% year-over-year, nearly doubling the National Association of Realtors' (NAR) overall market growth of 5.2%1, data points that prove the strength of the brand's network, the caliber of its agents, and the resilience of the luxury market. On a global scale, Sotheby's International Realty achieved US$157 billion in 2024 sales volume, demonstrating the depth of its international reach, global referral network, and brand recognition. The brand's performance validates why buyers and sellers continue to choose Sotheby's International Realty, solidifying its position as the premier luxury real estate brand worldwide.
"Buyers and sellers alike continue to rely on the expertise of Sotheby's International Realty agents to successfully navigate an ever-changing market and achieve their real estate goals," said Philip White, president and CEO of Sotheby's International Realty. "Achieving nearly double the industry average in sales volume growth demonstrates the exceptional prowess and performance of agents in our network and the power of the brand."
Strategic Global Expansion and Record Achievements
In 2024, Sotheby's International Realty remained committed to strategic expansion around the globe, opening 37 new offices worldwide and bringing its total presence to over 1,100 offices in 84 countries and territories, with more than 26,100 independent sales associates.
The brand increased its domestic presence to 46 states across the country and expanded in key states, including California and Michigan. Sotheby's International Realty also facilitated expansions through domestic merger and acquisition transactions, including in North Carolina, South Carolina, and New York. Internationally, the brand expanded into significant markets, such as Anguilla and Poland, and further strengthened its presence in Portugal, New Zealand, Australia, and London, England.
"Today's luxury market operates on a global scale," said Tammy Fahmi, senior vice president of global servicing and strategy of Sotheby's International Realty. "High-net-worth buyers seek to expand their property portfolios in multiple countries, while sellers are looking for global exposure. Our reach and strategic expansion into key markets in the U.S. and internationally reflects how we continue to meet this demand and ensures our clients have access to properties and qualified buyers wherever they are in the world."
Sotheby's International Realty witnessed record sales across several key markets in 2024, including a US$25M sale, which broke the record for the priciest home ever sold in Washington, D.C. Internationally, in Dubai, a new high was set when a villa sold for US$65.5 million, the most expensive ever sold on Jumeirah Bay Island.
"As affluent buyers continued to seek properties across international markets, Sotheby's International Realty agents served as true global real estate advisors. The brand's referral volume was US$4.6 billion, demonstrating our extensive network's unique ability to transcend geographical boundaries, seamlessly connecting luxury buyers and sellers worldwide," said White.
Sotheby's International Realty continues to set the benchmark for excellence in the luxury real estate market. With a commitment to innovation, strategic expansion, and unparalleled service, the brand remains the top choice for discerning buyers and sellers around the globe.
Commitment to Technology and Marketing Excellence
Sotheby's International Realty is recognized as the proven authority in servicing the luxury market. The brand's premier tools and marketing strategies drive exceptional performance, enabling it to outperform the market.
In 2024, sothebysrealty.com attracted more than 33 million visitors, videos produced by Sotheby's International Realty agents were viewed more than 65 million times, and the brand's 1.2 million followers engaged with its social media platforms 1.8 million times, 165% more engagement than the competitor average.2
The brand's award-winning public relations team upheld the status of the most profiled luxury real estate brand in the news3 and, in July 2024, released the first-ever Mid-Year Luxury Outlook report, complementing the annual edition and providing consumers with a crucial advantage in navigating the luxury market.
The brand also launched its new advertising campaign – "1 of 1," which celebrates the uniqueness of each home represented by Sotheby's International Realty and positions its real estate advisors as "curators of the unique," adept at pairing the world's most exceptional homes with buyers who recognize their potential. This approach is defined by the company's keen eye for a home's special attributes and the distinctive experiences and lifestyles they offer. Aimed at engaging a new generation of affluent buyers who value individuality and self-expression, the campaign has been adapted into several languages, allowing for localization across the brand's more than 1,100 offices in 84 countries.
"Our mid-year update to the Sotheby's International Realty Luxury Outlook report enabled us to provide clients with timely information to make well-informed real estate decisions. Additionally, our new '1 of 1' campaign underscores our dedication to marketing distinctive homes and positions our agents as the leading force to do so," said Bradley Nelson, chief marketing officer of Sotheby's International Realty.
1NATIONAL ASSOCIATION OF REALTORS®
2Sprout Social
3Meltwater
Sotheby's International Realty
Sotheby's International Realty was founded in 1976 as a real estate service for discerning clients of Sotheby's auction house. Today, the company's global footprint spans more than 1,100 offices located in 84 countries and territories worldwide, including 48 company-owned brokerage offices in key metropolitan and resort markets. In February 2004, Anywhere Real Estate Inc. entered a long-term strategic alliance with Sotheby's, the operator of the auction house. The agreement provided for the licensing of the Sotheby's International Realty name and the development of a franchise system. The franchise system is comprised of an affiliate network, where each office is independently owned and operated. Sotheby's International Realty supports its affiliates and agents with a host of operational, marketing, recruiting, educational and business development resources. Affiliates and agents also benefit from an association with the venerable Sotheby's auction house, established in 1744. For more information, visit www.sothebysrealty.com.
The affiliate network is operated by Sotheby's International Realty Affiliates LLC, and the company owned brokerages are operated by Sotheby's International Realty, Inc. Both entities are subsidiaries of Anywhere Real Estate Inc. (NYSE:HOUS) a global leader in real estate franchising and provider of real estate brokerage, relocation and settlement services. Both Sotheby's International Realty Affiliates LLC and Sotheby's International Realty, Inc. fully support the principles of the Fair Housing Act and the Equal Opportunity Act.
Media contact:
Rachel Colletta
Senior Manager, Public Relations and Communications
[email protected]
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SOURCE Sotheby's International Realty