• Zillow average gross margin for 2023 was 79.62%, a 2.6% decline from 2022.
• Zillow average gross margin for 2022 was 77.6%, a 54.74% increase from 2021.
• Zillow average gross margin for 2021 was 50.15%, a 23.86% increase from 2020.

Gross margin can be defined as a company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage.