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08/26/2005: "Denver Median Home Price Sets Record"

8/26/05:


According to the
Denver Business Journal (DBJ) the median price of a single family home sold in metro Denver in August set a record as did the average price for a condo.

"The median price of a single-family home sold in the metro area through Aug. 23 was $255,000, up from $252,250 last month. In August 2004, the median price was $240,000.

The median price of a condo sold through Aug. 23 was $162,499, down from $164,000 in July. The median price was $156,250 at the same time a year ago.

The average price of a single-family home sold in the metro area was down in August to $313,308 from $318,527 in July. In August 2004, the average sold price was $299,131.

The average price of a condo sold in metro Denver jumped in August to a record high of $198,614 from $184,288 in July. A year ago, the average sold price of a metro area condo was $181,225.

The median home price is generally considered a more accurate market indicator than is the average home price.

There were 26,560 unsold homes on the market this month which was up 0.9 percent from last month, but down 3.4 percent from a year ago, according to Bauer's report."

Source:
Denver Business Journal (DBJ)