The real estate market may be facing a real tough time these days, but the market for virtual real estate properties, the domain names is flourishing with people making heavy investments in acquiring prized premium domains.

According to DN Journal, domain sales worth $38,029,543 were reported In the first quarter of 2008, which is a 78% increase over the $21,253,105 in domain sales reported for the first quarter of 2007! The average sale is reported to be with average sale at $10,103 and the total number of reported sales was 3,764.

Amazing… I would say

The largest sale reported was that of the $10 million sale of Fund.com during the first quarter of the year! Other prominent sales included $2.6 million for Pizza.com and $1.7 million for DataRecovery.com

I am thrilled with this all. Seems like I am in the right business after all

Verisign has issued its latest report on domain name registration confirming that that number of registered domain names crossed 150 million in 2007. The report further states that during the fourth quarter of 2007, our good old Internet grew by nearly 33 million domain names!

Wow…. domain names are sure getting in vogue with more and more people viewing it as a profitable business

I can tell you by experience that registering domain names could become an addiction with no certified remedy if not checked in time!

But at the same time, the major share of the pie is taken by the .com domains and .net domains, which crossed the number of 80.40 million domain name registrations at the end of 2007, representing a 24% increase year over year.

New .com and .net domain name registrations were seen as growing at an average of 2.5 million per month in the fourth quarter 2007 for a total of 7.5 million new registrations.

Whatever anyone says, it is the domain registrar community that is benefiting the most from this tide in domain name registrations!