Home sales in the Denver area rose in July, but the average sales price decreased compared with the month before.
The number of homes sold last month increased to 4,440, up from 4,186 in June — but down from 5,123 in July 2008 — according to Metrolist real estate statistics.
The median home selling price decreased to $229,900 from $237,500 in June and up slightly from $229,200 in July 2008, the Metrolist analysis shows.
Gary Bauer, a real estate analyst and independent broker, said July was the best month for home sales this year.
“Even though consumer confidence dropped 3 percent . . . , there continues to be a resale home market here,” Bauer said.
The inventory of unsold homes was at 20,890 units at the end of July.
Most buyers paid from $200,000 to $300,000 for homes, and 52 percent of condo sales were under $150,000, according to the report.
David Simonson, broker associate with Re/Max Professional, said the statistics reinforce that Denver remains one of the top cities poised for real estate recovery.
“With these continued trends, we are definitely looking at continuing to be at the forefront of real estate economic recovery and growth,” Simonson said.
Chris Mygatt, however, said he’s “cautiously optimistic” about July’s statistics.
“We are certainly seeing continued improvement for this current year and that’s seasonal,” said Mygatt, president and chief operating officer at Coldwell Banker in Colorado. “I don’t know that we’re seeing any recovery-based improvement, but definitely strong seasonal improvement.”
On the bright side, he said, Denver hasn’t felt home devaluation to the extent that many other markets in the country have.
“We’re holding strong,” he said.
Sara Castellanos: 303-954-1381 or scastellanos@denverpost.com
