Denver home prices appear stable

Denver home prices appear stable - As the end of prime selling season approaches, August sales were down in the Denver area year over year, but selling prices were relatively stable. Last month’s home sales dropped 14% to 3,905 from a year ago, and sales were down 12% from July of this year, according to a report released yesterday by Metrolist. However, the average selling price for both single-family homes and condos decreased only 3.87% year over year to $251,008, and was roughly flat from July with only a 0.68% drop. The median selling price for single-family homes was basically flat year over year at $227,000, down 0.89% from August 2008 and down 1.26% from July of this year. Both houses and condos sold faster in August, with fewer days on the market for sale year over year and from July of this year.http://www.bizjournals.com/denver/stories/2009/09/07/daily32.html