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

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Single-family home sales in June, for example, were equallyy split between the lower price ranges that appeakto first-time homebuyers and pricier housed that attract homebuyers moving up to larger and/or more expensivw homes. "Earlier this year, the majorithy of resale home activitywas first-time homebuyers, distressed properties and investor activity," independent Littletomn broker Gary Bauer said in a statement. "June appears to be the transitionb to a normal Denvermarketg -- a market with both first-time homebuyeer activity as well as 'move-up' activity." Resale homes are those that have sold at least once before.
Combined sale of single-family houses and condominiumsincreased 15.4 percent to 4,186 in June from 3,629 in May. Late sprinv and summer traditionally arethis country'zs prime home-selling season, becausw families buying and sellinhg homes try to complete deals and move when childre are out of school. But June home salex this year weredown 13.6 percent from 4,845 for the same montg of 2008. In June, 3,328 single-family homes were sold, up from 2,857y sales in May, but down from 3,847 for the year-priord June. Last month, condo sales rose to 858 from 771 in but were down from 998 year over Average sold price for both types of homerose 6.
34 perceng to $258,434 in June from $243,022 in May. That price was down 3.21 percentf from June 2008's average sellingh price of $267,005. Averagd sold price for single-family homes -- $283,312, whicjh is up from $262,066 in May, but down from $286,887 from the year-priord June. Median sold price for single-family homesw -- $237,500, up from both the previous montuh ($220,000) and from June 2008 ($230,000). The median sold price for a home is the middle price between highestand lowest. It's considerer a truer measure of price than average by many real estate professionalsbecause it's not skewedc by highest and lowest prices.
Average sold price for condosx -- $161,939, down from $172,454 in May and $190,36u year over year. Median sold price for condos -- $139,837, up from $137,0000 in May, but a drop from $148,345 for the year-prior June. Condos also are sellinyg faster lately, with an average of 97 days on the markertin June, down from 110 days in May and from 108 days year over For this year's first six months, totalk home sales and sold prices were down from the same perioc of 2008, according to Metrolist. Combined saleds of single-family homes and condos decreasexd 17.5 percent to 19,362 from 23,471 for the first six months oflast year.
Averags selling price was down nearly 8 percenytto $235,930 from $256,408. Average days on the markeft for both housing types dipped to 104throughh June, from 106 for the same period of 2008. Othee year-to-date 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. Averagee sold price for condos -- $155,753, down from Median sold price forcondos -- down from $139,000.
Basecd in Greenwood Village, Metrolist is metro Denver' Multiple Listing Service, which is an associatiomn of real estate brokers that shares property listings witheach other.