Sotheby’s International Realty has surged ahead of the competition, posting a 9.4% year-over-year increase in U.S. sales volume – nearly double the National Association of Realtors’ (NAR) reported market growth of 5.2%.
The brand’s performance illustrates the resilience of the luxury real estate sector, as well as the strength of Sotheby’s International Realty’s global network and high-caliber agents.
On a worldwide scale, the firm achieved an impressive US$157 billion in sales volume in 2024, solidifying its reputation as a dominant force in high-end property transactions.
Philip White (main picture), President and Chief Executive of Sotheby’s International Realty, says: “Buyers and sellers alike continue to rely on the expertise of Sotheby’s International Realty agents to successfully navigate an ever-changing market. Achieving nearly double the industry average in sales volume growth demonstrates the exceptional prowess of our agents and the power of our brand.”
STRATEGIC EXPANSION
Sotheby’s International Realty aggressively expanded its footprint in 2024, adding 37 new offices worldwide, bringing its total presence to over 1,100 offices in 84 countries and territories.
The brand strengthened its domestic presence across 46 U.S. states, including key expansions in California and Michigan, as well as merger-driven growth in North Carolina, South Carolina and New York.
Internationally, Sotheby’s International Realty deepened its presence in sought-after markets such as Portugal, New Zealand, Australia and London, England. It also entered new high-net-worth territories, including Anguilla and Poland, reflecting the growing global appetite for luxury real estate investments.
RECORD BREAKING
As luxury buyers sought premier properties worldwide, Sotheby’s International Realty facilitated record-setting transactions. In Washington, D.C., the firm brokered a US$25 million sale – the highest ever recorded in the city. Meanwhile, Dubai saw a historic sale on Jumeirah Bay Island, with a villa closing at US$65.5 million, setting a new market benchmark.
White adds: “As affluent buyers expand their property portfolios internationally, Sotheby’s International Realty agents serve as true global advisors. With US$4.6 billion in referral volume, our extensive network continues to connect luxury buyers and sellers seamlessly across borders.”
LUXURY MARKET
Tammy Fahmi, Senior Vice President of Global Servicing and Strategy of Sotheby’s International Realty, says: “Today’s luxury market operates on a global scale.
“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.”
LEVERAGING TECHNOLOGY
Sotheby’s International Realty’s success extends beyond sales, driven by its sophisticated digital marketing and branding initiatives. In 2024, its website, sothebysrealty.com, attracted more than 33 million visitors, while agent-produced videos garnered over 65 million views. The brand’s social media following of 1.2 million users saw engagement rates soar 165% higher than the competition.
The company also launched its “1 of 1” advertising campaign, celebrating the distinctiveness of every property and reinforcing its agents as “curators of the unique.” This campaign, translated into multiple languages, aims to captivate the next generation of affluent buyers who value individuality and exclusivity.
Bradley Nelson, the brand’s Chief Marketing Officer, says: “Our mid-year update to the Sotheby’s International Realty Luxury Outlook report provided clients with crucial insights for strategic decision-making.
“And our ‘1 of 1’ campaign reinforces our commitment to marketing the world’s most exceptional homes.”
