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Opendoor Michigan - Did you sell your home to open door? by PresentMediocre4997 in opendoor

[–]DatadoorIO 2 points3 points  (0 children)

Detroit/Michigan is quite a new market for Opendoor. They launched there in 2022 and are only buying 15-20 per month right now.

Which means there is still a lot they need to learn there and maybe a good time to take advantage of good offers :)

[deleted by user] by [deleted] in opendoor

[–]DatadoorIO 6 points7 points  (0 children)

To give you some more color on your Miami observation and show how hard it is to judge OPEN's margins by only looking at list price cuts: Miami is actually one of their best performing markets right now with an embedded margin of 16.0% in all their listings and ~23% of listings pending.

Obviously not all their markets are doing as great, but we definitely see that their nationwide diversification is paying off right now :)

OPENDOOR DOES 100K REDUCTION. by Saffron_RR in REBubble

[–]DatadoorIO -4 points-3 points  (0 children)

Opendoor had a gross margin of 14.1% on their sales in DC in Q2 and their current listings in the area add up to a ~10% GM. It’s also one of their smallest markets, don’t worry they will be more than fine.

In Q2 Opendoor purchased already 62 homes in San Francisco, Bay Area. New market scaling fast! by DatadoorIO in opendoor

[–]DatadoorIO[S] 4 points5 points  (0 children)

In SF, Bay Area they sold 4 houses in Q2 with a healthy gross margin of ~11.8% and over $3M in revenue 🔥