Redfin Company Stats: Revenue & Competitors (2023)

Redfin Usage and Growth Statistics

Redfin is a leading full-service real estate brokerage.

Founded in 2004 in Seattle, Washington, the company reaches 49.7 million monthly average users across its mobile apps and websites, primarily in the U.S. and Canada.

Redfin became a publicly traded company on July 28, 2017.

Redfin generated $2.28 billion in revenue in 2022, a 12x increase from the $187 million generated in 2015.

From users to revenue, here's a summary of what you'll find on this page:

Key Redfin Statistics

  • Redfin reaches 49.7 million consumers across its web properties and mobile apps.

Redfin Customers Audience Reach

  • Redfin helped customers buy or sell more than 497,000 homes worth over $249 billion through 2022.
  • Redfin generated $2.28 billion in revenue in 2022 but is not currently profitable.
  • The company lost $321 million in 2022.
  • Redfin grew revenue from $125 million in 2014 to $2.28 billion in 2022, an increase of 1,824%.
  • Redfin captured a 0.80% market share of U.S. real estate transactions in 2022, a 1.9x increase from 2017.
  • In 2022 Redfin generated 34% of its revenue from real estate services helping buyers and sellers buy and sell homes. The gross profit margin of real estate services was 22.7%.
  • 53% of Redfin's revenue came from Properties revenue (company-owned real estate), acquired through RedfinNow, an iBuyer program that offers instant cash to sellers looking to sell their homes quickly. The company lost money in this segment as the gross profit margin on properties revenue was negative 1.9%.
  • gets 10.2 million visitors per month, making it the 4th-most visited real estate website in the U.S.
  • Redfin has 5,572 employees (2022).

How Many People Visit Redfin?

The amount of traffic Redfin gets to its mobile applications and website is an important leading indicator of business activity because this is how Redfin acquires new customers. It's important to note that the homebuying process takes time and that not all traffic will convert to revenue-generating customers immediately (if at all).

The company's flagship website,, ranks 4th among real estate websites in the United States attracting 10.2 million average visitors per month (about 1/6 the traffic Zillow receives).

The company defines monthly average visitors as a combination of unique visitors to all its websites and apps, including Redfin, RentPath, Bay Equity Home Loans, Walk Score, Redfin App, and RentPath app. In 2022, Redfin's aggregate reach was 49.7 million monthly active visitors, a 4.25x increase from 2015. Here is the growth trajectory of Redfin's aggregate reach:

Redfin monthly visitors

Here is a breakdown of Redfin's monthly visitor growth since 2015.

YearMonthly Visitors (Web + App)
2015 11.70 million
2016 16.21 million
2017 22.62 million
2018 27.26 million
2019 33.47 million
2020 42.86 million
2021 47.11 million
2022 49.65 million

Source: Redfin

Redfin Revenue

Redfin generates revenue from three business segments: Real Estate Services revenue (helping consumers buy and sell), Properties revenue (selling company-owned properties), and “Other" revenue (rentals, mortgages, and title services).

Redfin has grown revenue across all key categories. In 2017 when Redfin went public, it reported revenue of $370 million compared to $2.28 billion in 2022, a 6.16x increase over these five years.

Redfin annual revenue

Here is the brokerage's revenue growth by year.

YearTotal Revenue
2017 $370 million
2018 $487 million
2019 $778 million
2020 $886 million
2021 $1,920 million
2022 $2,280 million

Source: Redfin

Redfin Revenue By Category

Its Properties segment genereated 52.7% of Redfin's revenue. Although Properties generated the most revenue, it was unprofitable, with a gross margin of negative 1.9%. The Real Estate Services segment accounted for 34.5% of the company's revenue with a gross margin of 22.7%. Other revenue, including rentals, mortgages, and title services, came in at 12.9% of the company’s total revenue in 2022.

Here we can see a visual breakdown of Redfin’s revenue generation by segment:

Redfin revenue by business segment

And here is the table showing the share of revenue earned by Redfin's business units:

Redfin Business SegmentShare of Total Revenue
Real Estate Services 34.46%
Properties 52.65%
Other 12.90%

Source: Redfin

Redfin Expenses

Redfin’s total cost of revenue amounted to $1.99 billion in 2022. The company had a 12.5% gross margin or $286 million of gross profit across all its business segments. However, once we account for the company’s operating expenses, Redfin was not profitable in 2022.

Redfin's total operating expenses amounted to $649 million in 2022, up 26% from $513 million in 2021.

Redfin Operating Expenses

Redfin’s operating expenses include Technology and Development, Marketing, General and Administrative, and Restructuring and Reorganization. Its operating expenses have steadily increased over the years. Since 2017, Redfin’s operating expenses have increased 5.1x. Here's a chart of the company's operating expenses since 2017.

Redfin Operating Expenses

Here's a table of Redfin's expenses since 2017.

YearTotal Expenses
2017 $128 million
2018 $163 million
2019 $223 million
2020 $231 million
2021 $514 million
2022 $649 million

Source: Redfin

Redfin Operating Expenses

Here’s a breakdown of the company’s operating expenses in 2022 by category, excluding the cost of revenue.

Redfin Operating Expenses Pie Chart

Redfin Net Profit

Redfin is not a profitable company. The company lost $321 million in 2022. Although the company is steadily growing revenue, the losses are getting bigger and bigger.

Redfin net profit

Here is a table of Redfin's net profits (losses) since 2017:

YearProfit (Loss)
2017 -$15,002,000
2018 -$41,978,000
2019 -$0,805,000
2020 -$18,527,000
2021 -$109,613,000
2022 -$321,143,000

Source: Redfin

Redfin Market Share

Redfin has steadily increased its market share of residential real estate transactions in the United States. In 2022, Redfin captured 0.8% of the U.S. market share.

Before the second quarter of 2022, the company calculated its market share by comparing the value of home sales involving a Redfin lead agent or partner agent relative to all U.S. home sales. However, due to changes in how the National Association of Realtors reports its U.S. home sales data, Redfin now reports its numbers based on the number of homes sold rather than the dollar amount.

Here is a table of Redfin's market share as a percentage of the U.S. market.

YearUS Market Share by Transactions
2017 0.42%
2018 0.51%
2019 0.61%
2020 0.67%
2021 0.77%
2022 0.80%

Source: Redfin

Redfin Regional Market Share

Redfin’s top-10 regional markets for real estate services are the metropolitan areas of (alphabetically):

  • Boston
  • Chicago
  • Denver (including Boulder and Colorado Springs)
  • Los Angeles (including Santa Barbara)
  • Maryland
  • Northern Virginia
  • Portland (including Bend)
  • San Diego
  • San Francisco
  • Seattle

In 2021, 62% of Redfin’s revenue came from their top 10 markets. The company stated that they are trying to reduce its over-reliance on these markets and achieve wider distribution. In 2015, 76% of their revenue came from their top 10 markets. By 2021, Redfin decreased its revenue from these markets by 14%.

Redfin Top 10 Markets

Here is a table of revenue from the top-10 Redfin markets as a percentage of real estate services revenue.

YearPercentage From Top 10 Markets
2017 69%
2018 67%
2019 63%
2020 63%
2021 62%

Source: Redfin

Redfin Competitors

Redfin ranks as the 4th-largest publicly traded residential real estate company in the U.S. by revenue in 2022.

Redfin Competitors by Revenue

And here's the data for top U.S. brokerage sales volume.

Anywhere $6,908,000,000
Compass $6,020,000,000
eXp Realty $4,600,000,000
Redfin $2,284,442,000
HomeServices of America $1,500,000,000
Douglas Elliman $1,150,000,000

How Many People Work at Redfin?

Redfin Employees

Redfin serves more than 100 markets across the U.S. & Canada and employs over 5,000 people. In 2022 the company had 5,572 employees, a decrease of roughly 16% from its previous year's workforce. Since 2017, Redfin’s workforce has grown by 2.3x despite cutbacks in 2022.

Redfin Number of Employees

Here is a table showing how many people work for Redfin.

YearNumber of Redfin Employees
2017 2,422
2018 2,993
2017 3,377
2018 2,993
2019 3,377
2020 4,185
2021 6,485
2022 5,572

Source: Macrotrends

Redfin Agents

Redfin works with two kinds of real estate agents.

Lead agents are full-time employees who earn W2 wages and benefits. The company calculates lead agent headcount by taking the number of lead agents at the end of each month and then averaging that number over the year. The company has seen steady growth in its lead agents, from 1023 in 2017 to 2426 in 2022.

Partner agents are contractors at other brokerages who receive leads from the company and share in the proceeds of commissions earned (similar to Zillow's Flex program). Redfin develops these relationships to fill high demand or overcome geographic limitations. The number of partner agents has also increased from 3,200 in 2017 to 8,700 in 2022, a 2.7x increase since 2017.

In the chart below, you can see that growth in the number of partner agents has outpaced the growth of lead agents.

Redfin Lead Agent and Partner Agent Count

Here is the headcount for lead agents since 2017.

YearAvg. Number of Lead Agents
2017 1,023
2018 1,390
2019 1,503
2020 1,757
2021 2,396
2022 2,426

And the headcount for partner agents since 2017.

YearNumber of Partner Agents
2017 3,200
2018 3,000
2019 3,600
2020 6,800
2021 10,700
2022 8,700

Source: Redfin

Interesting fact: Redfin agents earned a median income of $112,200 in 2020, more than double the median of $49,700 for traditional agents.


That’s it for my 2023 roundup of Redfin.

Despite not reaching profitability, the real estate brokerage is showing steady growth in revenue, agents, and more.

Is the 4th most visited real estate website and 5th largest broker by revenue in the U.S., there's no doubt that Redfin is a major player in residential real estate.

Time will tell if Redfin can become profitable.

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