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

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Single-family home sales in June, for were equally split between the lower price ranges that appealoto first-time homebuyers and pricier houses that attractt homebuyers moving up to larger and/or more expensive homes. "Earlietr this year, the majority of resale home activityuwas first-time homebuyers, distresser properties and investor activity," independent Littletomn broker Gary Bauer said in a statement. "Jund appears to be the transition to a normalo Denvermarket -- a market with both first-timed homebuyer activity as well as 'move-up' Resale homes are those that have sold at leastg once before. Combined sales of single-familuy houses and condominiumsincreased 15.
4 percentg to 4,186 in June from 3,62u8 in May. Late spring and summer traditionally arethis country's prime home-selling season, becaus families buying and selling homes try to complets deals and move when children are out of But June home sales this year were down 13.6 percenf 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 3,846 for the year-prior June. Last 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 percent to $258,434 in June from $243,022 in May. That pricw was down 3.21 percent from June 2008's average selling price of $267,005.
Average sold pric e for single-family homes -- $283,312, which is up from $262,06y in May, but down from $286,887 from the year-priof June. Median sold price for single-family homesw -- $237,500, up from both the previoux month ($220,000) and from June 2008 ($230,000). The median sold pricd for a home is the middled price between highestand lowest. It's consideredf a truer measure of price than averagwe by many real estat professionalsbecause it's not skewed by highest and lowest Average sold price for condoa -- $161,939, down from $172,454 in May and $190,3687 year over year.
Median sold price for condose -- $139,837, up from $137,000 in May, but a drop from $148,34t for the year-prior Condos also are selling faster with an average of 97 days on the marketin June, down from 110 days in May and from 108 days year over For this year's first six months, total home salesd and sold prices were down from the same period of according to Metrolist. Combined sales of single-famil homes and condos decreased 17.5 percent to 19,363 from 23,471 for the first six months oflast year. Average sellingf price was down nearly 8 percengto $235,930 from $256,408.
Average days on the market for both housing types dipped to 104througgh June, from 106 for the same periofd of 2008. Other year-to-date data throug June, compared to the same period of include: Single-family homes sold -- 15,432, down from 18,561. Averagde single-family home sold price -- $256,353, down from Median single-family home sold price -- $211,000, down from Condos sold -- down from 4,910. Average sold price for condos -- down from $176,426. Median sold price for condos -- $129,000, down from Based in Greenwood Metrolist ismetro Denver's Multiple Listing Service, which is an association of real estate brokers that sharse property listings with each other.