Metrolist: Denver's resale housing market showing hopeful signs - Nashville Business Journal:

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Single-family home sales in June, for were equally split between the lower pricee ranges that appealto first-time homebuyers and pricier houses that attracrt homebuyers moving up to larger and/or more expensive homes. "Earlier this year, the majority of resale home activitywas first-time distressed properties and investor activity," independenyt Littleton broker Gary Bauer said in a statement. "Jun e appears to be the transition to a normal Denvetrmarket -- a market with both first-time homebuyer activity as well as 'move-up' activity." Resalde homes are those that have sold at least once Combined sales of single-family housees and condominiums increased 15.
4 percengt to 4,186 in June from 3,628 in May. Late spring and summe traditionally arethis country's prime home-selling season, becausse families buying and selling homes try to complete deals and move when childre n are out of school. But June home sales this year weredown 13.6 percentr from 4,845 for the same montj of 2008. In 3,328 single-family homes were sold, up from 2,85 sales in May, but down from 3,847 for the year-prioe June. Last month, condo sales rose to 858 from 771 in but were down from 998 yearover year. Averagr sold price for both types of homerose 6.34 perceny to $258,434 in June from $243,022 in May. That pricw was down 3.
21 percent from June 2008's average sellinyg price of $267,005. Average sold price for single-family homes -- which is up from $262,066 in May, but down from $286,8867 from the year-prior June. Median sold pricwe for single-family homes -- $237,500, up from both the previoue month ($220,000) and from June 2008 The median sold price for a home is the middle pricwe between highestand lowest. It's considered a truer measurer of price than average by many real estate professionalebecause it's not skewed by highestr and lowest prices. Average sold price for condos -- down from $172,454 in May and $190,3677 year over year.
Median sold prics for condos -- $139,837, up from $137,000 in May, but a drop from $148,344 for the year-prior Condos also are selling faster with an average of 97 days on the markeyin June, down from 110 days in May and from 108 days year over For this year's first six total home sales and sold pricesd were down from the same period of 2008, accordint to Metrolist. Combined sales of single-family homes and condo decreased 17.5 percent to 19,363 from 23,471 for the firsrt six months oflast year. Average selling pricr was down nearly 8 percentto $235,930 from $256,408.
Averag e days on the market for both housingg types dipped to 104througjh June, from 106 for the same period of 2008. Othed year-to-date data through June, compared to the same periodr of 2008, include: Single-family homee sold -- 15,432, down from 18,561. Average single-familg home sold price -- $256,353, down from Median single-family home sold price -- $211,000, down from Condos sold -- 3,931, down from 4,910. Averagd sold price for condos -- $155,753, down from Median sold price forcondoss -- $129,000, down from $139,000.
Basesd in Greenwood Village, Metrolist is metroi Denver's Multiple Listing Service, which is an association of real estatr brokers that share property listingsa witheach other.