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DENVER-The average price of a condo or townhome sold in June in the Denver area rose to a record $171,200, about $4,000 more than previous high set in May, shows a report by Coldwell Banker Residential Brokerage. The median price also hit a new high of $171,200, besting the previous high of $167,244 set in May.

The median, or middle price, means 50% of the units sold for more than $171,200 and 50% sold for less. Many experts consider the median price a better indicator of the market than the average price, because it is less skewed by a few expensive sales.

Condos are rising in price because they’re especially popular as an alternative to single-family homes, says Chris Mygatt, a regional vice president at Coldwell Banker.

The average price of a single-family, detached home is at a record $270,519, about $100,000 more than a condo.

For a typical person coming out of an apartment, the average-priced house is not affordable, he says.

Also driving up the prices of condos are the luxury lofts being sold in places such as LoDo, which are drawing young professionals with high incomes, so-called trust-fund babies, and empty nesters.

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