Home Sales Down In Denver

From Denver Business Journal:

Sales of single-family homes and condominiums in metro Denver dipped less than 1 percent in 2007 from the previous year, but median sales prices dropped more, according to data from Metrolist Inc. of Greenwood Village.

For all of 2007, 38,845 single-family homes sold, down 0.93 percent from 39,208 homes sold in '06, according to Metrolist research provided by Re/Max Professionals Inc. Median selling price for houses dipped 1.96 percent to $245,000 last year, from $249,900 in '06.

Metro-area condominium sales decreased 0.83 percent last year to 10,944 from 11,036 in 2006. Median selling prices for condos dropped 4.46 percent to $150,000 from $157,000.

The median selling price is the middle price, or the one between the highest and lowest. It's considered a more accurate price than an average, because it's not skewed by the lowest and highest selling prices.