Q1 2024 Escrow Domain Report is out and sales are up!

Escrow, the benchmark data platform for the domain name industry, recently released its domain name data for the first quarter of 2024. The platform's domain name sales were up sequentially, but down year-over-year.

The following data for the first quarter of 2024 ending March 31st shows that the platform's total domain volume continued to grow, from $79 million in the fourth quarter of 2023 to $84 million in the first quarter of 2024. However, transactions are still down significantly from the same period last year, when Escrow.com processed $130 million in transactions.

Key highlights include:

-In the first quarter of 2024, the value of ".ai" domain names reached a new high of $2.6 million.

-The median price of a five-character .com domain name increased from $8,500 in the fourth quarter of 2023 to a record high of $9,750 in the first quarter of 2024.

Q1 2023 was buoyed by a number of large deals, including the sale of chat.com for $15.5 million. which makes it a tough year-over-year comparison.

On the positive side, Q1 2024 was the best quarter since Q2 2022 if you exclude the Q1 2023 anomaly.

The .ai domain market continues to thrive, but represents only a small portion of the overall market. The company processed $2.6 million in .ai domains in the first quarter, up from the record $2.1 million set a quarter ago.