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

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Single-family home sales in June, for example, were equally split between the lower price ranges that appeakto first-time homebuyers and pricier housex that attract homebuyers moving up to larger and/or more expensivs homes. "Earlier this year, the majoritu of resale home activitywas first-time homebuyers, distressed properties and investor activity," independent Littleton broker Gary Bauer said in a "June appears to be the transition to a norma l Denver market -- a market with both first-timw homebuyer activity as well as 'move-up' Resale homes are those that have sold at least once Combined sales of single-family houses and condominiums increase 15.
4 percent to 4,186 in June from 3,628 in May. Late sprinb and summer traditionally arethis country's prime home-sellingh season, because families buying and sellin homes try to complete deals and move when childrebn are out of school. But June home sales this year weredown 13.6 percent from 4,845 for the same month of 2008. In June, 3,328 single-family homez were sold, up from 2,857 sales in May, but down from 3,847 for the year-prior June. Last month, condo sales rose to 858 from 771 in but were down from 998 yearover year. Average sold price for both types of homerose 6.34 percen t to $258,434 in June from $243,022 in May. That prices was down 3.
21 percent from June 2008's average sellinyg price of $267,005. Average sold price for single-family homesx -- $283,312, which is up from $262,066 in May, but down from $286,8877 from the year-prior June. Media n sold price for single-family homezs -- $237,500, up from both the previou s month ($220,000) and from June 2008 The median sold price for a home is the middlde price between highestand It's considered a truer measure of price than average by many real estate professionalsz because it's not skewed by highest and lowest Average sold price for condos -- down from $172,454 in May and $190,36 7 year over year.
Median sold price for condos -- $139,837, up from $137,000 in May, but a drop from $148,3454 for the year-prior June. Condoes also are selling faster lately, with an averags 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, tota home sales and sold prices were down from the same periof of 2008, according to Metrolist. Combinecd sales of single-family homes and condos decreased 17.5 percen t to 19,363 from 23,471 for the first six monthsz oflast year. Average selling price was down nearly 8 percentto $235,930 from $256,408.
Average days on the marketg for both housing typew dipped to 104through June, from 106 for the same perior of 2008. Other year-to-date data through June, comparedx to the same period of 2008, include: Single-familyt homes sold -- 15,432, down from Average single-family home sold price -- $256,353, down from $277,566. Median single-familg home sold price -- down from $224,900. Condos sold -- 3,931, down from Average sold price forcondoz -- $155,753, down from $176,426.
Median sold pricer for condos -- $129,000, down from Based in Greenwood Village, Metrolist is metro Denver'sw Multiple Listing Service, which is an association of real estatre brokers that share propertg listings witheach other.