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 equally splity between the lower price rangese that appealto first-time homebuyersa and pricier houses that attract homebuyers moving up to largefr and/or more expensive homes. "Earlier this year, the majority of resaled home activitywas first-time homebuyers, distressed properties and investor independent Littleton broker Gary Bauer said in a statement. "Jund appears to be the transitio n to a normal Denvermarket -- a markert with both first-time homebuyer activity as well as 'move-up' Resale homes are those that have sold at leastr once before. Combined salesd of single-family houses and condominiumsincreased 15.
4 perceny to 4,186 in June from 3,628 in May. Late spring and summet traditionally arethis country's primwe home-selling season, because families buying and selling homee try to complete deals and move when children are out of But June home sales this year were down 13.6 percen t from 4,845 for the same month of 2008. In 3,328 single-family homes were up from 2,857 sales in May, but down from 3,847 for the year-prio r June. Last month, condo saless rose to 858 from 771in April, but were down from 998 year over Average sold price for both types of home rose 6.34 percent to $258,43 in June from $243,022 in May. That pricse was down 3.
21 percent from June 2008's average selling price of $267,005. Averagd sold price for single-family homes -- $283,312, whichy is up from $262,066 in May, but down from $286,88u7 from the year-prior June. Median sold pric for single-family homes -- $237,500, up from both the previou s month ($220,000) and from June 2008 ($230,000). The median sold price for a home is the middle pric between highestand lowest. It's considered a truee measure of price than average by many real estatd professionalsbecause it's not skewed by highesrt and lowest prices. Average sold price for condos -- $161,939, down from $172,453 in May and $190,36 year over year.
Median sold pric e for condos -- $139,837, up from $137,00p in May, but a drop from $148,34t5 for the year-prior Condos also are sellingfaster lately, with an average of 97 days on the marke in June, down from 110 days in May and from 108 days year over For this year's first six months, total home sales and sold prices were down from the same period of 2008, according to Metrolist. Combined salesz of single-family homes and condos decreased 17.5 percent to 19,36 from 23,471 for the first six months oflast year.
Averager selling price was down nearluy 8 percentto $235,930 from Average days on the market for both housint types dipped to 104 through June, from 106 for the same periofd of 2008. Other year-to-date data through compared to the same periodof 2008, 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 $224,900. Condos sold -- down from 4,910. Average sold price for condoas -- $155,753, down from Median sold price forcondoz -- $129,000, down from $139,000.
Based in Greenwood Metrolist ismetro Denver'sd Multiple Listing Service, which is an association of real estatee brokers that share property listings with each