Edina, Minn.—January 18, 2012 – Edina Realty again widened the gap between itself and its competitors in both traditional and lender-mediated home sales during 2011. For the 12th year in a row, Edina Realty maintained its leadership position with 21.5 percent market share, beating its nearest competitor by nine percentage points. The company also led the market in traditional home sales, with 25.9 percent market share, and lender-mediated sales, with 16.1 percent market share.
During 2011, Edina Realty handled more than 27,000 pending transactions (buy and sell side) and $5.4 billion in pending sales volume. Edina Realty agents sold 39 percent of their own listings, while its two closest competitors sold only 28 percent and 20 percent of their own listings.
“Our agents’ pended units were at their highest in six years when not compared with a tax credit year,” said Bob Peltier, president and CEO of Edina Realty Home Services. “This year we’re telling our agents to be ready for even more pent-up demand by homeowners who want to move now that they see the market is improving,” he said. According to the Minneapolis Area Association of REALTORS®, the real estate market is more balanced, with 5 to 6 months of inventory.
“Our agents are seeing a high demand for more listings, which bodes well for the spring market,” Peltier said. “The presidential election will likely push activity to the early part of the year, so I’d encourage those people who are looking to make a change this year to get into the game early,” Peltier added.
Edina Realty’s website continues to be most popular real estate regional real estate website. The company launched a new, enhanced version of its website in July 2011and also created hundreds of unique pages for nearly every city with real estate listings in the areas Edina Realty serves. These pages offer community information as well as current listings. In 2011, www.edinarealty.com received more than four times the online visits of its nearest competitor.*
Edina Realty currently has over 2,100 REALTORS® operating out of approximately 60 offices. More than half of the firm’s REALTORS® and staff from Edina Realty and its parent company, HomeServices of America, www.homeservices.com, are attending Edina Realty’s annual “Expo,” held on Jan. 18 at Saint Paul RiverCentre, where the leadership team talks about the state of the market, the firm’s 2012 strategies and the new advertising campaign.
Edina Realty, a subsidiary of HomeServices of America, is one of the nation’s largest real estate companies with approximately 60 real estate offices throughout Minnesota and Western Wisconsin and 2,100 REALTORS®. Edina Realty’s family of companies includes Edina Realty, Edina Realty Title and Edina Realty Mortgage. Edina Realty handled nearly 25,000 transactions and $5.3 billion in sales volume in 2010. For more information, visit www.edinarealty.com or find us on Facebook and Twitter: facebook.com/EdinaRealty and Twitter.com/Edina_Realty.
*Data based on custom category of competitive sites as defined by Edina Realty – Source: Experian Hitwise.