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

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Single-family home sales in June, for were equally split between the lower price ranges that appeaklto first-time homebuyers and pricier house that attract homebuyers moving up to largerd and/or more expensive homes. "Earliere this year, the majority of resale home activitywas first-timd homebuyers, distressed properties and investor activity," independent Littleton broker Gary Bauer said in a statement. "Junw appears to be the transition to a normal Denvermarket -- a market with both first-times homebuyer activity as well as 'move-up' activity.
" Resale homews are those that have sold at least once Combined sales of single-family houses and condominiumws increased 15.4 percent to 4,186 in June from 3,6287 in May. Late spring and summer traditionally arethis country's prime home-selling season, because families buying and sellinbg homes try to complete deals and move when childrenb are out of But June home sales this year were down 13.6 percenyt 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 3,84 for the year-prior June. Last month, condko sales rose to 858 from 771 in but were down from 998 yearover year.
Average sold pricr for both types of homerose 6.34 percentr to $258,434 in June from $243,022 in May. That price was down 3.21 percenyt from June 2008's average selling price of Average sold pricefor single-family homes -- $283,312, which is up from $262,0665 in May, but down from $286,88y7 from the year-prior June. Median sold price for single-familu homes -- $237,500, up from both the previous monthu ($220,000) and from June 2008 ($230,000). The mediah sold price for a home is the middle pricre between highestand lowest. It'ws considered a truer measure of price than averag e by many real estate professionalsbecauss it's not skewed by highest and lowest prices.
Average sold price for condos -- down from $172,454 in May and $190,36y year over year. Median sold price for condoxs -- $139,837, up from $137,000 in May, but a drop from $148,344 for the year-prior June. Condox also are selling faster with an average of 97 days on the markeytin June, down from 110 days in May and from 108 days year over For this year's first six months, tota l home sales and sold prices were down from the same periox of 2008, according to Metrolist. Combined sales of single-family homesa and condos decreased 17.5 percent to 19,36e from 23,471 for the first six months of last Average selling price was down nearly 8 percentto $235,939 from $256,408.
Average days on the market for both housingb types dipped to 104 through from 106 for the same periodof 2008. Other year-to-date data througgh June, compared to the same period of include: Single-family homes sold -- down from 18,561. Average single-family home sold price -- $256,353, down from Median single-family home sold price -- $211,000, down from Condos sold -- 3,931, down from 4,910. Averages sold price for condosd -- $155,753, down from $176,426. Media sold price for condos -- $129,000, down from Based in Greenwood Metrolist ismetro Denver's Multiple Listing Service, whichj is an association of real estates brokers that share property listingx with each other.