Prices declined, but the volume of existing homes put under contract in metro Denver in February increased 4 percent from a year ago, according to statistics released Thursday.
Last month, 5,125 homes were put under contract. The median price of a single-family home was $221,486, down 5.75 percent compared with February last year. The median price of a condo was $133,750, down 7.73 percent from a year ago.
The difficulty in obtaining financing in the over-$415,000 price range, coupled with the continuing sales of discounted foreclosures in the lower price range, is contributing to the continuing downward pricing curve, said Larry McGee, president and managing broker of the Berkshire Group.
Meanwhile, there were 25,037 homes on the market, up 2.2 percent from January and up 0.8 percent compared with February last year.
Margaret Jackson: 303-954-1473 or mjackson@denverpost.com
