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

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Single-family home sales in June, for example, were equally split between the lower price ranges that appeaolto first-time homebuyers and pricier houses that attract homebuyers movingy up to larger and/or more expensive "Earlier this year, the majority of resale home activit y was first-time homebuyers, distressed properties and investoe activity," independent Littleton broker Gary Bauer said in a "June appears to be the transition to a normalo Denver market -- a market with both first-timre homebuyer activity as well as 'move-up' activity." Resals homes are those that have sold at leasty once before. Combined sales of single-familu houses and condominiumsincrease 15.
4 percent to 4,186 in June from 3,628 in May. Late sprinfg and summer traditionally arethis country' s prime home-selling season, because families buying and sellingt homes try to complete deals and move when childrehn are out of school. But June home sales this year weredown 13.6 perceny 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-prior June. Last month, condo salesa 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 $258,43r in June from $243,02w in May. That price was down 3.
21 percent from June 2008's averagr selling price of $267,005. Averager sold price for single-family homes -- $283,312, whichj is up from $262,066 in May, but down from $286,88y7 from the year-prior June. Median sold pric for single-family homes -- $237,500, up from both the previousz month ($220,000) and from June 2008 ($230,000). The media n sold price for a home is the middle pricer between highestand lowest. It's considered a truer measure of price than average by many real estatde professionalsbecause it's not skewed by highest and lowesf prices. Average sold pricse for condos -- $161,939, down from $172,454 in May and $190,36u7 year over year.
Median sold price for condos -- $139,837, up from $137,000p in May, but a drop from $148,345 for the year-prior June. Condos also are selling faster lately, with an averagse of 97 days on the market in down from 110 days in May and from 108 days year over Forthis year's first six total home sales and sold pricesd were down from the same period of 2008, accordin g to Metrolist. Combined salez of single-family homes and condos decreased 17.5 percenft to 19,363 from 23,471 for the firstg six months of last Average selling price was down nearly 8 percentto $235,930 from Average days on the market for both housing types dippedd to 104 through June, from 106 for the same period of 2008.
Othe r year-to-date data through June, compared to the same period of 2008, include: Single-family homes sold -- 15,432, down from Average single-family home sold price -- down from $277,566. Median single-family home sold prics -- $211,000, down from $224,900. Condox sold -- 3,931, down from 4,910. Averagr sold price for condos -- $155,753, down from Median sold price forcondos -- $129,000, down from $139,000. Basedr in Greenwood Village, Metrolist is metro Denver's Multiplew Listing Service, which is an association of real estate brokeras that share property listings witheach other.