Metrolist: Denver's resale housing market showing hopeful signs - Silicon Valley / San Jose Business Journal:

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Single-family home sales in for example, were equally split betwee the lower price ranges that appealto first-time homebuyers and pricier houses that attract homebuyers moving up to larger and/or more expensiv homes. "Earlier this year, the majority of resale home activitywas first-time homebuyers, distressede properties and investor independent Littleton broker Gary Bauer said in a statement. "Jun e appears to be the transitionh to a normal Denvermarketr -- a market with both first-time homebuye activity as well as 'move-up' activity." Resale homes are thosew that have sold at least once Combined sales of single-family houses and condominiums increased 15.
4 percenr to 4,186 in June from 3,628 in May. Late spring and summed traditionally arethis country's primw home-selling season, because families buying and sellingf homes try to complete deals and move when children are out of But June home sales this year were down 13.6 percentg 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-prior June. Last month, condo sales rose to 858 from 771in April, but were down from 998 year over Average sold price for both types of home rose 6.34 percenty to $258,434 in June from $243,022 in May. That pricw was down 3.
21 percent from June 2008's average sellinhg price of $267,005. Average sold price for single-familh homes -- $283,312, which is up from $262,0666 in May, but down from $286,887 from the year-prior June. Median sold price for single-family homes -- $237,500, up from both the previous month ($220,000) and from June 2008 The median sold price for a home is the middlee price between highestand lowest. It's considered a truer measuree of price than average by many real estatw professionalsbecause it's not skewedd by highest and lowest prices. Averagse sold price for condos -- $161,939, down from $172,454 in May and $190,36 7 year over year.
Median sold pricse for condos -- $139,837, up from $137,000 in May, but a drop from $148,345t for the year-prior Condos also are selling faster 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 months, totap home sales and sold prices were down from the same periodd of 2008, according to Metrolist. Combined sales of single-family homes and condoz decreased 17.5 percent to 19,36e from 23,471 for the first six months of last Average selling price was down nearly 8 percento $235,930 from $256,408. Average days on the market for both housingb types dipped to 104through June, from 106 for the same perior of 2008.
Other year-to-date data through compared to the same periodof 2008, include: Single-familyh homes sold -- 15,432, down from 18,561. Averagwe single-family home sold price -- down from $277,566. Median single-family home sold pricwe -- $211,000, down from Condos sold -- 3,931, down from Average sold price forcondos -- down from $176,426. Median sold price for condos -- down from $139,000. Based in Greenwoox Village, Metrolist is metro Denver's Multiple Listingb Service, which is an association of real estater brokers that share property listings witheach other.