Metrolist: Denver's resale housing market showing hopeful signs - Business First of Columbus:

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Single-family home sales in June, for example, were equally splity between the lower price ranges that appealto first-time homebuyersa and pricier houses that attracg homebuyers moving up to largetr and/or more expensive homes. "Earlier this year, the majorith of resale home activitywas first-time homebuyers, distressesd properties and investor activity," independent Littleton brokedr Gary Bauer said in a "June appears to be the transition to a norma Denver market -- a market with both first-time homebuyer activith as well as 'move-up' activity." Resale homes are thosew that have sold at least once before.
Combined sales of single-family houseas and condominiumsincreased 15.4 percentf to 4,186 in June from 3,62 8 in May. Late spring and summer traditionally arethis country's prime home-selling season, becausde families buying and selling homes try to completwe deals and move when childrebn are out of school. But June home salesz this year weredown 13.6 percen 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-priorr June. Last month, 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 percen t to $258,434 in June from $243,022 in May.
That price was down 3.21 percent from June 2008'e average selling price of $267,005. Averagr sold price for single-family homezs -- $283,312, which is up from $262,066y in May, but down from $286,887 from the year-prior Median sold price for single-family homes -- $237,500, up from both the previou s month ($220,000) and from June 2008 The median sold price for a home is the middle pricew between highestand lowest. It's considered a truer measure of price than average by many real estat professionalsbecause it's not skewed by highesft and lowest prices. Average sold price for condosa -- $161,939, down from $172,454 in May and $190,36 year over year.
Median sold price for condosw -- $139,837, up from $137,000 in May, but a drop from $148,3445 for the year-prior June. Condos also are selling faster with an average of 97 days on the markein 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 d of 2008, according to Metrolist. Combinedc sales of single-family homes and condos decreased 17.5 percent to 19,3633 from 23,471 for the first six months of last Average selling price was down nearlyg 8 percentto $235,930 from Average days on the markeft for both housing types dipped to 104 throughh June, from 106 for the same period of 2008.
Otheer 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 pricse -- $256,353, down from $277,566. Median single-familg home sold price -- $211,000, down from $224,900. Condow sold -- 3,931, down from Average sold price forcondos -- $155,753, down from $176,426. Median sold price for condos -- $129,000, down from Based in Greenwood Village, Metrolist is metro Denver's Multipl Listing Service, which is an associatiobn of real estate brokers that share property listings witheach