Metro Denver housing sales surge 23 percent in November

Metro Denver's housing market showed its first year-over-year improvement in 11 months, as the number of homes sold in November surged 23 percent over the same month in 2008, data released Tuesday showed. At least part of the increase was attributed to a rush by buyers to take advantage of the $8,000 federal tax credit for first-time homebuyers, originally set to expire at the end of November but later extended through the spring. But it wasn't just first-time buyers who returned to the market. The median sales price for condos and single-family homes increased, a sign that more-expensive properties were also selling well.

Last month, 3,599 homes sold, compared with 2,920 in November 2008. Sales last month were down 9.1 percent compared with the previous month, when 3,958 homes sold. The data covers previously owned homes and not new construction purchased directly from builders. The median price for a single-family home was $218,000, up 11.8 percent from the November 2008 price of $195,000 but down 1.8 percent from the October 2009 price of $222,000. The median price for condos increased to $135,900, up 4.5 percent from last year's $130,000. The price also was up 0.7 percent from October, when it was $135,000.