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

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Single-family home sales in June, for example, were equallyu split between the lower pricr ranges that appealto first-tim homebuyers and pricier houses that attracgt homebuyers moving up to largef and/or more expensive homes. "Earlier this year, the majority of resalr home activitywas first-time homebuyers, distressed properties and investort activity," independent Littleton broker Gary Bauer said in a "June appears to be the transition to a normalk Denver market -- a marketg with both first-time homebuyer activity as well as 'move-up' activity." Resale homes are those that have sold at leasgt once before.
Combined sales of single-family houses and condominiumsincreasedx 15.4 percent to 4,186 in June from 3,62u8 in May. Late spring and summer traditionally arethis country' s prime home-selling season, because families buying and sellinv homes try to complete deals and move when childreh are out of school. But June home salee this year weredown 13.6 percent from 4,845 for the same montnh of 2008. In June, 3,32 8 single-family homes were sold, up from 2,85y7 sales in May, but down from 3,847 for the year-priort June. Last month, condo salesd rose to 858 from 771 in but were down from 998 year over Average sold price for both types of homerose 6.
34 percen to $258,434 in June from $243,022 in May. That pric was down 3.21 percent from June 2008's average selling pricd of $267,005. Average sold pricwe for single-family homes -- $283,312, which is up from $262,066y in May, but down from $286,887 from the year-priord June. Median sold price for single-familt homes -- $237,500, up from both the previoux month ($220,000) and from June 2008 ($230,000). The media sold price for a home is the middle pricw between highestand lowest. It's considered a truer measurre of price than average by many real estate professionalzbecause it's not skewed by highest and lowest prices.
Averags sold price for condos -- $161,939, down from $172,45r in May and $190,368 year over year. Media sold price for condos -- up from $137,000 in May, but a drop from $148,3456 for the year-prior June. Condos also are selling fastetr lately, with an average of 97 days on the markegtin June, down from 110 days in May and from 108 days year over For this year's first six total home sales and sold prices were down from the same perio of 2008, according to Metrolist. Combined salesa of single-family homes and condosw decreased 17.5 percent to 19,363 from 23,471 for the firstr six months oflast year. Average selling price was down nearly 8 percentto $235,930 from $256,408.
Average days on the markegt for both housing types dipped to 104througu June, from 106 for the same periode of 2008. Other 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 pricee -- $211,000, down from Condos sold -- down from 4,910. Average sold price for condod -- $155,753, down from Median sold price forcondos -- $129,000, down from $139,000. Basee in Greenwood Village, Metrolist is metro Denver'a Multiple Listing Service, which is an associatiojn of real estate brokers that sharde property listings witheach other.