It's Seattle vs. Denver in the Super Bowl of Real Estate
ZipRealty compared five housing market metrics to determine who would win a real estate Super Bowl smack down.
In honor of the Super Bowl, ZipRealty, Inc., a prominent residential brokerage firm and real estate site, has released a new study comparing the housing markets in Denver and Seattle, to come up with a winner in the real estate rivalry between the two metro areas.
"Both Denver and Seattle have elite pro football teams that fought hard on the field all season to win championships in their respective divisions, which earned them a Super Bowl berth," says Van Davis, President of Brokerage Operations for ZipRealty. "But we wanted to take a closer look at these two champions to see how they perform off the field, in the housing market."
So how did they make the comparison? "To reach the Super Bowl, your team needs to be great at gaining yards; have the biggest, fastest and most-experienced players, not to mention a great coaching staff," says Davis. ZipRealty looked at which of the two competing metros are leaders in the real estate equivalents of:
1. Gaining Yardage = Average Lot Size
2. Having More Veteran Players = New Construction vs. Existing Home Sales
3. Moving the Fastest = Median Days on Market
4. Having the Most Expensive Players = Median Sales Price
5. Best Coaching Staff = Agent Ratings and Reviews on ZipRealty.com
So which market comes out ahead? The results might surprise you.
See How Seattle Stacks Up Against DenverView All 8 Photos
1. Which metro gains more yards? Denver properties are larger than Seattle properties.
Average Lot Size in Square Feet:
2. Where are the most veteran players located? Although they're almost evenly matched, Seattle has fewer new homes than Denver, which we’re reading as the former having more vets.
Percentage of New Construction vs. Existing Home Sales:
3. Whose players move the fastest? Denver's homes are selling at nearly double the rate as Seattle homes.
Median Days on Market:
4. Which metro has the most expensive players? Seattle wins when it comes to median home sales prices, ahead of Denver's by more than $26,000.
Median Sales Price:
5. Whose coaching staff is best? A real estate agent acts as a coach in a successful home purchase or sale. As it turns out, both of these markets have an outstanding coaching staff, with nearly-perfect agent ratings and reviews based on ZipRealty's feedback.
Average Agent Ratings:
Denver: 4.91 out of 5
Seattle: 4.84 out of 5
For those of you keeping track, you’ll see that Denver wins the Super Bowl of Real Estate by a hair. Super Bowl Sunday will reveal if there’s any correlation to the real game whatsoever, but any excuse will do to look at interesting houses, right?