If you were going to bet on a real estate market to come back, sooner and not later...The Denver Real Estate Market has the statistics to lead the way out. 

According to HousingTracker.net, the below charts show the continued improving housing market in the Metro Denver area.  Single Family and Condo inventory is down 22% and prices are up 20%.   This  works in conjunction with reports from The Urban Land Institute as having Denver in it's top ten markets nationwide as well as in it's emerging Trends Real Estate 2009, dated October 21, 2008:
   

• Houston. Stays relatively strong as long as energy stays hot. It makes the top ten for the first time since 1995. Office vacancies drop to 10 percent, “a good buy opportunity,” but apartments soften. Cheap land results in cheap housing, and prices have not gone up dramatically.
• Boston. Job outlook is more favorable than most cities, with office space “tight” in the Financial District and the Back Bay area. New “harborside hotels threaten older product.”
• Denver. The state capital has a major federal government presence, which should buffer job losses. Steady population growth and broadening diversification of the industry keeps the housing market stable. Mass transit should pay future dividends.
• Dallas. Compares favorably to other “hot-growth” markets. Although office vacancies downtown are 20 percent or higher, apartments do well and developers keep building single-family homes.
• Chicago. Apartments do well, but condos weaken as speculators leave the market. Office vacancies are in the low teens, and O’Hare International Airport keeps industrial space in the “global pathway.

Here are the Urban Land Institute ratings for Commercial properties. Commercial/multi-family investment, No. 10; commercial/multifamily development, N0.21; for-sale homebuilding, No. 21; office properties, No. 8; hotels, No. 11; and industrial, no. 10.

Notice how all the above categories had to do with ROOFS OVER OUR HEADS?  The only coming "softening markets" will be in some Commercial sectors, mostly retail will be heading towards the skids in 2009...I ask myself,  "how many Tokyo Joe's, dry cleaners and nail salons does the average consumer need?"  People who specialize in Commercial real estate forget that the number of human beings in the Denver Metro area needing a roof over their heads has increased and not decreased.  We hardly need any more of any commercial retail or office real estate!  

Now let's illustrate that real estate is local!  The above charts give a 50,000 foot view, so let's take a look at what this really means to the man on the street.  Total Housing units, sold, under $200K located in Cherry Creek School district, city of Aurora.

From 1/1/08 to 12/1/08

Total Sold 920 (83.63 per month pace)

Avg List Price 156,353

Avg Sold Price 140,144

Avg Sold to List 89.63%

Avg DOM 76.98 days

 

From 1/1/08 thru 5/31/08

Total Sold 430 (86 per month pace)

Avg List Price 157,148

Avg Sold Price 141,709

Avg Sold to List 90.17%

Avg DOM 83.10

 

From 6/1/08 thru 12/1/08

Total Sold 460 (76.66 per month pace)

Avg List Price 155,656

Avg Sold Price 138,771

Avg List to Sold 89.15%

Avg DOM 71.61

 

From 10/1/08 thru 12/1/08

Total Sold 107 (53.5 per month pace)

Avg List Price 157,510

Avg Sold Price 139,877

Avg List to Sold 88.8%

Avg DOM 63.16

Ok and now compare to last year at this time.  Despite the press, despite the stock market and despite people who don't know how to obtain data.  Prices are UP, and Days on the market are down.  The decrease in inventory is having the effect that it should..more demand.  More demand means higher pricing and fewer days to sell.

From 10-1-07 thru 12-1-07

155 Sold

Avg List Price 146,969

Avg Sold Price 135,264

Avg Sold to List 92%

Avg DOM 79.49