Inman

Opendoor quietly expands to Minnesota

By July 13, 2018 No Comments
Opendoor quietly expands to Minnesota
REPOSTED DIRECTLY FROM INMAN NEWS. THIS CONTENT HAS NOT BEEN MODERATED BY WFG NATIONAL TITLE.

Flush with a recent $325 million round of venture funding, the all-cash homebuying startup Opendoor is officially operational in Minnesota.

As of late June, the startup had expanded to its 11th market nationwide: Minneapolis-St. Paul.

“The company is currently issuing offers in Minnesota,” an Opendoor spokesperson told Inman on Friday.

However, no homes-for-sale in Minnesota are currently listed on Opendoor’s website. Instead, both Minneapolis and Tampa are shown as “Coming Soon.”

Opendoor Minneapolis Tampa

Credit: Opendoor

Entering a Minneapolis home address into Opendoor’s online instant free offer feature also did not yield any results when Inman gave it a try.

As of July, Opendoor was also operational in Phoenix, Dallas-Fort Worth, San Antonio, Las Vegas, Atlanta, Nashville, Charlotte, Raleigh, Orlando and Tampa.

As the company figures out how to navigate growth and increased demand, Opendoor is also tweaking its approach to different markets. Inman reported today that Opendoor temporarily reduced the upper price limit on homes it will make offers on in Dallas-Ft. Worth, dropping its cap from $500,000 to $300,000.

As part of its growth, Opendoor recently announced plans to reach 50 markets across the U.S. by 2020.

Email Veronika Bondarenko

The views and opinions of authors expressed in this publication do not necessarily state or reflect those of WFG National Title, its affiliated companies, or their respective management or personnel.

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