Home prices, sales in July take a nose-dive
John Rebchook, Rocky Mountain News
Published August 7, 2007 at midnight
There were 5,951 homes placed under contract in July, a 3 percent drop from the 6,136 sales in the Denver area in June, show reports released today by independent broker Gary Bauer and Coldwell Banker Residential Brokerage.
The report, which is based on Metrolist figures, also shows that sales rose 7.5 percent from July 2007, when there were 5,538 sales.
Both the average and median prices of homes sold and closed also took hits.
The average price of a single-family home sold was $316,024, compared with $334,833 in June and $328,721 in July 2006.
The median, or middle price of a single-family home sold home was $255,000, compared with $263,000 in June and $259,500 in July 2006.
Condo sale prices rose to $192,885, from $186,328 in June, but were down slightly from $194,705 in July 2007.
The number of unsold homes on the market dropped 5.4% from to 30,272 from 31,989 in July 2006. The number of homes on the market was virtually unchanged from June, when there were 30,256 homes on the market.
rebchookj@RockyMountainNews.com or 303-954-5207
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