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.

"An increase of 23 percent versus a year ago suggests that confidence levels of potential buyers are higher," said Jeff Thredgold, an economist for Vectra Bank Colorado. "Part of that is based on better economic news, and part is based on the most attractive mortgage interest rates in 40 years.

"We were all in this massive state of flux a year ago. The sky was falling, for all we knew."

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.

"We're not out of it by any means, but even in a bad month where things slow down, there are still a lot of positives," said David Simonson of Re/Max Professionals Inc. "This time last year, we were looking at a market that had an absolute free-fall feel to it. We've definitely made some strides forward."

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.

"As far as pricing, we're very close to the traditional mix of homes selling," said Gary Bauer, an independent real estate analyst. "Through the majority of this year, we've had a larger percentage of first-time buyers. Now we have first-time and move buyers. Move buyers definitely bring the average up."

Move buyers are owners moving from one home to another.

For the first time in nearly three years, sales in the $1 million-plus market increased 30 percent year-over-year, said Chris Mygatt, president and chief operating officer for Coldwell Banker Residential Brokerage.

"This is possibly the beginning of the recovery of the million-dollar market," he said. "You wouldn't have thought the tax credit would have an effect on the million-plus market, but the renewed energy and renewed confidence has spilled over into the upper-end market."

During November, six homes priced at $2 million or more sold; 23 homes priced between $1 million and $2 million sold; and 150 priced from $600,000 to $1 million sold, according to Bauer's analysis.

"There are pockets that are thriving regardless of their price range," said Mike Burns of Re/Max Professionals. "But overall, the market above $500,000 is not as healthy as below, and below is very, very good."

Margaret Jackson: 303-954-1473 or mjackson@denverpost.com