Metrolist: Denver's resale housing market showing hopeful signs - The Business Journal of the Greater Triad Area:

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Single-family home sales in for example, were equally split between the lowe r price ranges that appealto first-timer homebuyers and pricier houses that attractr homebuyers moving up to larger and/odr more expensive homes. "Earlier this year, the majoritt of resale home activitywas first-time distressed properties and investor activity," independent Littletomn broker Gary Bauer said in a "June appears to be the transition to a normalp Denver market -- a market with both first-time homebuyee activity as well as 'move-up' Resale homes are those that have sold at leastt once before. Combined sales of single-family houses and condominiumsaincreased 15.
4 percent to 4,186 in June from 3,62i8 in May. Late spring and summer traditionally arethis country'e prime home-selling season, because familiezs buying and selling homes try to completer deals and move when childrejn are out of school. But June home sales this year weredown 13.6 percentg from 4,845 for the same montgh of 2008. In June, 3,328 single-familyh homes were sold, up from 2,857 sale s in May, but down from 3,847 for the year-priofr June. Last month, condk sales rose to 858 from 771in April, but were down from 998 year over Average sold price for both typess of home rose 6.34 percen to $258,434 in June from $243,022 in May. That pricee was down 3.
21 percent from June 2008's average sellinfg price of $267,005. Average sold price for single-family homes -- which is up from $262,06y in May, but down from $286,887 from the year-prio r June. Median sold price for single-family homes -- up from both the previouss month ($220,000) and from June 2008 ($230,000). The mediabn sold price for a home is the middle pricde between highestand lowest. It's consideref a truer measure of pric than average by many real estate professionaldsbecause it's not skewed by highest and lowestr prices. Average sold price for condos -- down from $172,454 in May and $190,3678 year over year.
Median sold price for condose -- $139,837, up from $137,000 in May, but a drop from $148,3454 for the year-prior June. Condos also are selling faster lately, with an average of 97 days on the market in down from 110 days in May and from 108 days year over Forthis year's first six months, totap home sales and sold prices were down from the same periocd of 2008, according to Metrolist. Combinede sales of single-family homes and condos decreaseed 17.5 percent to 19,363 from 23,47 for the first six months of last Average selling price was down nearly 8 percenyto $235,930 from Average days on the market for both housing typews dipped to 104 through June, from 106 for the same period of 2008.
Other year-to-date data through June, compared to the same period of include: Single-family homes sold -- down from 18,561. Average single-familty home sold price -- $256,353, down from Median single-family home sold price -- down from $224,900. Condos sold -- 3,931, down from Average sold price forcondos -- $155,753, down from Median sold price for condos -- down from $139,000. Based in Greenwood Metrolist ismetro Denver's Multiple Listing which is an association of real estat e brokers that share property listings with each other.