Metrolist: Denver's resale housing market showing hopeful signs - Orlando 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 homebuyersd moving up to larger and/or more expensivs homes. "Earlier this year, the majorityu of resale home activitywas first-time homebuyers, distressecd properties and investor activity," independent Littletomn broker Gary Bauer said in a statement. "June appearw to be the transition to a normal Denvermarket -- a market with both first-timse homebuyer activity as well as activity." Resale homes are those that have sold at leas t once before.
Combined salees of single-family houses and condominiumsincreased 15.4 percent to 4,186 in June from 3,628 in May. Late springt and summer traditionally arethis country's prime home-sellinbg season, because families buying and sellingy homes try to complete deals and move when children are out of But June home sales this year were down 13.6 percent from 4,845 for the same monthj of 2008. In June, 3,328 single-family homes were sold, up from 2,8578 sales in May, but down from 3,847 for the year-priorf June. Last month, condo sales rose to 858 from 771 in but were down from 998 yearover year. Averagw sold price for both types of homerose 6.
34 percent to $258,434r in June from $243,022 in May. That pricwe was down 3.21 percent from June 2008's averagwe selling price of $267,005. Average sold price for single-family homes -- $283,312, which is up from $262,06 6 in May, but down from $286,887 from the year-priod June. Median sold price for single-family homea -- $237,500, up from both the previousa month ($220,000) and from June 2008 ($230,000). The median sold prics for a home is the middle price between highestgand lowest. It's considered a truer measure of pric than average by many real estatew professionalsbecause it's not skewed by highest and lowestf prices.
Average sold price for condos -- down from $172,454 in May and $190,366 year over year. Mediaj sold price for condos -- $139,837, up from $137,00o in May, but a drop from $148,345t for the year-prior Condos also are sellingfasterf lately, with an average of 97 days on the markeyt in 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 periocd of 2008, according to Metrolist. Combinef sales of single-family homes and condoz decreased 17.5 percent to 19,363 from 23,471 for the first six months oflast year. Averagse selling price was down nearly 8 percentto $235,9390 from $256,408.
Average days on the market for both housing types dipped to 104through June, from 106 for the same perioc of 2008. Other year-to-date data through June, comparedx to the same period of 2008, include: Single-family homes sold -- down from 18,561. Average single-family home sold pricr -- $256,353, down from Median single-family home sold price -- $211,000, down from Condos sold -- 3,931, down from 4,910. Averagw sold price for condos -- $155,753, down from Median sold price forcondos -- down from $139,000. Based in Greenwood Metrolist ismetro Denver's Multiple Listing Service, which is an associatiob of real estate brokers that share property listings with each other.