Offerpad nearing 1K listings - and new formula for new and removed listingsby Ottie on October 9th, 2021
Offerpad is now just 40 listings away from hitting the 1K mark - a milestone Opendoor hit in April and Zillow hit in June.
Also, based on some user feedback, I adjusted how we count an Added vs. Removed listings. Before, I would count a listing as new if it did not appear in the prior update's listings. Looking at the data, there appeared to be many cases where listings would leave and then reappear over a few days. Lots of reasons for this, including price adjustments, a desire to show a listing as new, etc.
The graphs and data now show a listing as Added when there was no instance of that address at all for that website in any prior date. And the same thing for Removed - it now just counts it when the listing does not appear at all in any future date.
Looking at the results and comparing to the companies' Q2 results, this does appear to be much more accurate. Zillow and Offerpad are within a few percentage points of the actual data. Opendoor is off by a more (~20%), but that's likely a reflection of the speed of growth they've seen, and an inability to know exactly when a listing was actually purchased vs. dold.