Costar Group Inc Stock Price, News & Analysis

CoStar Group (NASDAQ: CSGP) has announced it will release its fourth quarter and full year 2024 financial results after market close on Tuesday, February 18, 2025. The company will host a conference call at 5:00 PM ET the same day to discuss the results and company outlook.

CoStar Group, founded in 1987, is a leading provider of online real estate marketplaces, information, and analytics. The company operates multiple platforms including Apartments.com, LoopNet, Homes.com, and various international property portals. Their websites attracted over 163 million average monthly unique visitors in the third quarter of 2024. The company maintains offices throughout the U.S., Europe, Canada, and Asia.

CoStar Group (NASDAQ: CSGP) has announced a strategic partnership with Chandler Garvey, a UK commercial property consultancy specializing in the Thames Valley region. Through this collaboration, Chandler Garvey will gain access to CoStar's real estate data and analytics platform as well as LoopNet's marketplace to enhance their service offerings and support growth initiatives.

The partnership will enable Chandler Garvey to leverage CoStar's comprehensive insights on property values, market conditions, occupancy levels, and availability. Additionally, through LoopNet, Chandler Garvey will be able to connect their commercial property listings with the world's largest audience of commercial tenants and buyers, enhancing visibility for their clients' properties.

CoStar Group (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information, and analytics, has announced a new client partnership with Bray Fox Smith, a London-based commercial property consultancy. The partnership enables Bray Fox Smith to utilize CoStar's commercial real estate data and analytics platform to enhance their advisory services and drive business growth.

Through this collaboration, Bray Fox Smith will gain access to CoStar's comprehensive insights on property values, market conditions, occupancy levels, and availability. This access aims to help the consultancy identify more business opportunities and better understand market value.

CoStar Group CEO Andy Florance has been named to Inman's 2025 Power Players list for the third consecutive year. The recognition stems from his leadership in developing CoStar's residential real estate portals, particularly Homes.com and Apartments.com. In 2024, Homes.com achieved significant growth following a $1 billion marketing campaign launched during the Super Bowl and the introduction of an agent subscription product. By Q3 2024, the Homes.com network reached 130 million average monthly unique visitors, with unaided awareness increasing from 4% to 33%. CoStar Group, founded in 1986, has expanded to over 6,400 employees across 14 countries and is included in both the S&P 500 and NASDAQ 100 indexes.

CoStar Group (NASDAQ: CSGP) has announced a new client partnership with Bidwells, a leading UK real estate advisor specializing in science & technology, sustainability, and modern living solutions. Through this partnership, Bidwells will gain access to CoStar's commercial real estate data and analytics platform to enhance their market tracking capabilities and deliver data-driven advisory services to their clients.

The collaboration reinforces CoStar's position as the global leader in CRE information and analytics. The company's platform is already trusted by major real estate firms including JLL, Cushman & Wakefield, Knight Frank, Lambert Smith Hampton, BNP Paribas Real Estate, Newmark, Avison Young and Colliers, demonstrating the industry's recognition of CoStar's solutions as essential tools for maintaining competitiveness.

CoStar Group (NASDAQ: CSGP) CEO Andy Florance has been named among the top ten most powerful executives in residential real estate by Swanepoel Power 200 for the second consecutive year. The recognition stems from CoStar's expansion in residential real estate, particularly through Homes.com.

In 2024, Homes.com achieved significant growth following a major marketing campaign and the launch of an agent membership product. By Q3 2024, the platform reached 130 million average monthly unique visitors, with unaided brand awareness increasing from 4% to 33% between February and September 2024.

The company also announced its intent to acquire Matterport, Inc., aiming to enhance its property data capabilities with 3D capture technology. Founded in 1986, CoStar Group now employs over 6,400 people across 14 countries and is included in both the S&P 500 and NASDAQ 100 indexes.

Apartments.com's Q4 2024 multifamily rent report shows national year-over-year asking rent growth eased to 1.0% in December 2024, down from 1.1% in September. The national rent per unit reached $1,729, up from $1,712 at the end of 2023. Quarter-over-quarter rents declined 0.4%, marking the second consecutive quarterly decrease.

The vacancy rate remained stable at 8.0%, with 113,200 units absorbed in Q4. Supply additions of 133,300 units continued to exceed absorption, though the gap narrowed to its smallest since Q4 2021. Full-year 2024 absorption reached 556,800 units, a 70% increase from 2023.

Detroit led the top 50 markets with 3.2% annual rent growth, followed by Kansas City (3.0%) and Cleveland (2.8%). Midwest markets showed strength, while Sun Belt markets struggled, with Austin experiencing a 4.8% rent decline. Luxury units (4&5-Star) led absorption but showed the weakest rent growth at 0.2% with an 11.4% vacancy rate, while mid-priced assets achieved 1.3% rent growth with a 7.3% vacancy rate.

CoStar Group (NASDAQ: CSGP) has announced an enterprise agreement with eXp Commercial, a virtual commercial real estate brokerage subsidiary of eXp World Holdings (Nasdaq: EXPI). Through this partnership, eXp Commercial advisors will gain access to CoStar's comprehensive global real estate data and analytics platform, covering insights on properties across office, industrial, retail, multifamily, hotel, and life sciences sectors nationwide.

The collaboration aims to enhance eXp Commercial's cloud-based platform by providing their advisors with tools for property valuation, market condition analysis, and availability tracking. This integration is expected to support eXp Commercial's growth in the industry by enabling their advisors to make faster, more informed decisions through access to CoStar's solution-driven suite of services.

CoStar Group (NASDAQ: CSGP) has announced it will host an Investor Day on Thursday, December 5, 2024, from 9:00 a.m. to 2:30 p.m. ET in Richmond, Virginia, with an online webcast option. The event will feature presentations from the company's leadership team, including Founder and CEO Andy Florance, and other senior executives. Attendees will tour the company's global campus and engage with management. The event will be accessible through the company's investor relations website, with a replay available for at least 30 days afterward. In-person attendance is by invitation only.