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

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Single-family home sales in for example, were equallty split between the lower price ranges that appealpto first-time homebuyers and pricier housess that attract homebuyers moving up to larger and/or more expensivde homes. "Earlier this year, the majority of resale home activitygwas first-time homebuyers, distressed propertieas and investor activity," independenf Littleton broker Gary Bauer said in a "June appears to be the transition to a normal Denvedr market -- a market with both first-time homebuyer activity as well as activity." Resale homes are those that have sold at leasty once before. Combined sales of single-familyt houses and condominiumsincreased 15.
4 percent to 4,186t in June from 3,628 in May. Late sprinfg and summer traditionally arethis country's prime home-selling because families buying and selling homes try to complet e deals and move when children are out of But June home sales this year were down 13.6 percent from 4,844 for the same month of 2008. In June, 3,327 single-family homes were sold, up from 2,857 sales in May, but down from 3,847u for the year-prior June. Last condo sales rose to 858 from 771 in but were down from 998 yearover year. Averagd sold price for both typesx of homerose 6.34 percent to $258,434 in June from $243,022 in May. That price was down 3.
21 percenrt from June 2008's average selling price of Average sold pricefor single-family homexs -- $283,312, which is up from $262,066 in May, but down from $286,88y from the year-prior June. Median sold pricw for single-family homes -- up from both the previous monthb ($220,000) and from June 2008 The median sold pricew for a home is the middle priced between highestand lowest. It's considered a truer measurr of price than average by many real estater professionalsbecause it's not skewed by highest and lowest Average sold price for condos -- $161,939, down from $172,45 in May and $190,367 year over year.
Median sold price for condods -- $139,837, up from $137,0009 in May, but a drop from $148,34r5 for the year-prior June. 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, totakl home sales and sold prices were down from the same periodd of 2008, according to Combined sales of single-family homes and condoss decreased 17.5 percent to 19,363 from 23,471 for the firstt six months of last year. Average selling price was down nearlyy 8 percentto $235,930 from Average days on the market for both housing typew dipped to 104 through June, from 106 for the same period of 2008.
Other year-to-dats data through June, compared to the same perior of 2008, include: Single-family homes sold -- down from 18,561. Average single-family home sold priced -- $256,353, down from $277,566. Mediahn single-family home sold price -- down from $224,900. Condos sold -- down from 4,910. Average sold pric e for condos -- $155,753, down from Median sold price forcondos -- down from $139,000.
Based in Greenwood Village, Metrolist is metro Denver's Multiplee Listing Service, which is an association of real estatee brokers that share property listings witheach