Before the big game, ZipRealty looked at five housing market metrics that impact buyers and sellers.
EMERYVILLE, Calif., Jan. 28, 2014 /PRNewswire/ — ZipRealty, Inc. (http://www.ziprealty.com) (NASDAQ: ZIPR), the nation’s most prominent online technology-powered residential real estate brokerage firm and real estate marketing solutions provider, has released a new study comparing the housing markets in Denver and Seattle to see how each metro measures up.
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“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.”
“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 Mr. Davis. For home buyers and sellers interested in making a move in these markets, Zip Realty examined which metros – Denver orSeattle – are leaders at “gaining yardage,” have more “veteran” players, “move the fastest,” have the most expensive “players” and the best “coaching” staff.
Specifically, ZipRealty analyzed five housing market trends on a year-over-year basis as of the end of 2013: 1) average lot size, 2) new construction vs. existing home sales 3) median days on market, 4) median sales price and 5) agent ratings and reviews on ZipRealty.com.
1) Which metro gains more yards?
Denver properties are larger than Seattle properties.
Average Lot Size in Square Feet
- Denver: 74,636
- Seattle: 60,754
2) Where are the most veteran players located?
Although they’re almost evenly matched, Seattle has fewer new homes than Denver.
% of New Construction vs. Existing Home Sales
- Denver: 5.4%
- Seattle: 5.3%
3) Whose players move the fastest?
Denver’s homes are selling at nearly double the rate than Seattle homes.
Median Days on Market
- Denver: 18
- Seattle: 32
4) Which metro has the most expensive players?
Seattle wins when it comes to median home sales prices, edging out Denver by more than $26,000.
Median Sales Price
- Seattle: $285,849
- Denver: $259,000
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, these two markets have an outstanding coaching staff, with nearly-perfect agent ratings and reviews based on ZipRealty’s Agent ratings.
Average Agent Ratings
- Denver: 4.91 out of 5
- Seattle: 4.84 out of 5
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About ZipRealty, Inc.
ZipRealty is a leading national real estate brokerage and provider of proprietary technology and comprehensive online marketing tools for the residential real estate brokerage industry. For home buyers and sellers who increasingly want control, choice and a seamless, customized service, ZipRealty offers Internet-enabled, state-of-the-art technology and complete access to accurate, timely information via their website and mobile applications, which real estate professionals can combine with their own local knowledge and personal expertise to offer an exceptional start-to-finish client experience. For real estate professionals who seek more productive ways to conduct business, ZipRealty provides technology and online marketing tools to enhance their online sales channel, including lead generation, conversion and service of their clients. ZipRealty’s technology and online marketing products serve its full-service, owned-and-operated residential real estate brokerage business in 19 markets nationwide, as well as its Powered by Zip network of leading third-party local brokerages in 20 markets.