Real Estate Showdown Week 5 Denver Vs Dallas

Real Estate Showdown Week 5 Denver Vs Dallas

Real Estate Showdown Week 5: Big D Gets a Big F

Another week down, another Broncos’ win. All is well in the Mile High City. According to ESPN as reported on 10/3, The Denver Broncos are on track to score 716 points this season, which would effectively shatter the NFL record. There is much excitement in Broncos Country and those same fans can be excited about the real estate market in Denver.

Last week marked the fourth straight win, both for the Broncos and Denver residents in the real estate showdown. In both instances, Denver has never really been challenged. Could this be the week things become a little more competitive in both categories?

This week’s Real Estate Showdown features Denver, Colorado versus Dallas, Texas. As we did last week, we will focus on 7 key factors to make our determination on which market is truly the winner (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%  

Dallas, Texas 

Median Home Price: $107,000 
Percent Change in Median Home Price (Previous Month): Not Reported 
Percent Change in Median Home Price (Previous Year): 1.90% Increase 
Percent of Home Ownership: 45% 
Home Vacancy Rate: 3.17% 
Income Per Capita: $27,251 
Unemployment Rate:  6.9%

Certainly in the affordability department, Dallas takes the edge over Denver. There is a saying however, “A rolling stone grows no moss.” Dallas is one mossy market! In the last 12 months, there has only been a 1.9% price appreciation. Current US inflation numbers are around 1.5%. This means Dallas real estate only yields .4% better than inflation! You are almost better off keeping your money under a mattress in Big D.

Monthly changes are apparently not tracked in the Dallas market and we cannot interpret data we do not have. Here is another alarming Dallas statistic however: list price change from last month: -75.4%. You read that right folks! -75.4%! Frankly I’m not exactly sure the cause of this but this would certainly raise some red flags for me if I were to invest in that market. Denver’s change from last month was +1.5%

The homeownership rate in Dallas is also below Denver’s. Dallas does take the edge in vacancy rate and unemployment rate but these are little consolations. The name of the game when purchasing a home is appreciation potential and frankly, much like the Cowboys’ defense, its just not there in Dallas. Another week down, another win in Denver. Let’s see if the Broncos can follow suit.

Check out next week when we dissect the Denver market versus the Jacksonville market. In the meantime, give me a call if you are thinking of buying or selling a home and would like help squashing the competition!

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: October 3rd 2013
Views: 6,642
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