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

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Single-family home sales in June, for were equally split between the lowere price ranges that appealto first-timd homebuyers and pricier housea that attract homebuyers moving up to larger and/ore more expensive homes. "Earlier this the majority of resale home activitywas first-time distressed properties and investor activity," independent Littleton broker Gary Bauer said in a statement. "June appears to be the transition to a normall Denvermarket -- a market with both first-tim e homebuyer activity as well as 'move-up' Resale homes are those that have sold at leasrt once before. Combined sales of single-family houses and condominiumszincreased 15.
4 percent to 4,186 in June from 3,628 in May. Late sprinv and summer traditionally arethis country's prime home-selling season, because families buying and selling homea try to complete deals and move when children are out of But June home sales this year were down 13.6 percentt from 4,845 for the same month 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-prior Last month, condo sales rose to 858 from 771 in but were down from 998 yearover year. Averagse sold price for both types of homerose 6.34 percenr to $258,434 in June from $243,022 in May. That price was down 3.
21 percent from June 2008' average selling price of $267,005. Averages sold price for single-family homes -- $283,312, whicuh is up from $262,066 in May, but down from $286,887 from the year-priofr June. Median sold price for single-familty homes -- $237,500, up from both the previous monthu ($220,000) and from June 2008 The median sold price for a home is the middlse price between highestand It's considered a truer measurr of price than average by many real estate professionalz because it's not skewed by highest and lowest prices. Average sold price for condose -- $161,939, down from $172,454 in May and $190,368 year over year.
Median sold price for condose -- $139,837, up from $137,000 in May, but a drop from $148,3456 for the year-prior June. Condos also are selling faster lately, with an average of 97 days on the market in down from 110 days in May and from 108 days year over Forthis year's first six total home sales and sold pricew were down from the same period of according to Metrolist. Combined salew of single-family homes and condow decreased 17.5 percent to 19,363 from 23,471 for the first six month s oflast year. Average selling price was down nearlyh 8 percentto $235,930 from Average days on the market for both housing typeas dipped to 104 through June, from 106 for the same periodr of 2008.
Other year-to-datse data through June, compared to the same period of include: Single-family homes sold -- 15,432, down from Average single-family 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. Averages sold price for condose -- $155,753, down from Median sold price forcondos -- $129,000, down from $139,000. Baser in Greenwood Village, Metrolist is metro Denver's Multiple Listintg Service, which is an association of real estated brokers that share properthy listings witheach other.