Real Estate Showdown Week 1 Denver Vs Baltimore

Real Estate Showdown Week 1 Denver Vs Baltimore

As the start of the NFL season rapidly approaches, the anticipation in the mile high air is palpable. With many NFL analysts picking the Denver Broncos as Super Bowl favorites, all eyes will be on Manning and the lethal receiving core to lead the Broncos to their first championship since the great John Elway lead them to glory at the end of the 20th century.

Thursday night’s matchup, touted to be a possible AFC Championship matchup, will garner the interest of most Denver residents.  We at Carr Peck and Associates are no different. And, seeing as we are a bunch of real estate nerds, we thought we would display our own head to head match up.

In the first of our weekly series, we will break down the 
Denver real estate market vs Baltimore’s market to really determine which residents are coming out on top.  Each week we will look at 7 key factors and see which city is better off.  Here’s this week’s breakdown (stats gathered via National Association of Realtors):
Denver, Colorado
Median Home Price: $243,000
Percent Change in Median Home Price (Previous Month): 4.29% Increase
Percent Change in Median Home Price (Previous Year): 10.95% Increase
Percent of Home Ownership: 52%
Home Vacancy Rate: 4.34%
Income Per Capita: $32,051
Unemployment Rate:  7.7%  

Baltimore, Maryland
Median Home Price: $153,000
Percent Change in Median Home Price (Previous Month): 4.10% Increase
Percent Change in Median Home Price (Previous Year): 2.70% Increase
Percent of Home Ownership: 50%
Home Vacancy Rate: 7.46%
Income Per Capita: $23,853
Unemployment Rate:  11.2%    

This week’s match up is a completely one-sided affair. Denver, started out of the gate strong, reporting a median home price of $243,000. This is a $91,000 or 60% premium over the Raven’s fan base. Next we look at percentage increase of median home prices from the last 12 months.

With over 4 times more appreciation over the last 12 months, Denver's market appears to be much stronger than Baltimore’s. On the flip side, one could argue Baltimore’s market is more affordable than Denver's , but the evidence is clear Denver’s market is much healthier. Couple this with Denver's higher per capita income and lower unemployment rate, Denver wins this week’s competition with ease! Bronco’s fans, including this Bronco’s fans, can only hope Thursday’s NFL game will be decided in this fashion.

Denver fan’s start out the real estate showdown at 1-0. Next week, we will breakdown the match up between Denver  and New York. If you are thinking about seeing how your home stacks up to the competition, call me today for a free market evaluation. 

Matthew Koller is part of the Carr Peck & Associates at Keller Williams. Carr Peck & Associates were 6th in Denver Metro home sales out of 5,000 agents and has been recognized by the Wall Street Journal and Real Trends as one of the top selling teams in the country. For more information feel free to  contact him   or call 303-704-3286.  

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Phone: 720-446-6301
Dated: September 3rd 2013
Views: 6,381
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