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
rachel.colletta@sothebys.realty
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SOURCE Sotheby's International Realty