The Real Deal New York

Corcoran reports contracts totaling $21B in 2015

Dollar volume of sales was up 17% year-over-year

March 22, 2016 01:29PM
By Katherine Clarke

pam liebman kelly kennedy 570

From left: Kelly Kennedy Mack and Pam Liebman

The Corcoran Group inked sales contracts totaling $21 billion in 2015, its best year ever, a spokesperson for the residential brokerage told The Real Deal.

Those numbers represent a nearly 17 percent year-over-year increase in nationwide sales volume for the company. Approximately $5.6 billion of that figure can be attributed to the performance of the company’s New York-based new development marketing arm, Corcoran Sunshine, TRD reported earlier this month.

By comparison, Corcoran’s chief New York rival, Douglas Elliman, which does not divulge in-contract data, said it closed sales worth $22.4 billion in 2015, compared with $18.2 billion in 2014. That number includes Elliman’s offices in Los Angeles and Aspen, Colo., areas in which Corcoran does not have a presence.

Corcoran announced its numbers earlier this month at an awards ceremony in Fort Lauderdale, Fla., hosted by its parent company NRT.

NRT’s parent company Realogy reported home sale transaction volume of $456 billion in 2014 across all of its NRT companies, which include Sotheby’s International Realty, Coldwell Banker and Corcoran. That’s an 8 percent increase from 2014. Corcoran is NRT’s top-performing brokerage.