The June Market Statistics for the Metro Denver are out. As you can see sales are still strong in Denver. There were 3,328 closings in June, and 15,432 closings year-to-date for 2009. The average sold home price in the entire Metro area is $283,312, only $3,575 less than the average sold price this time last year. That is only 1% less...an extremely marginal percentage in light of what other cities are going through.
Although there are a bit fewer closings in 2009 than 2008, there are 4,315 fewer listings now than in June 2008. That makes the absorption rate (absorption rate just means the number of months it takes to sell all the homes on the market at the current buying pace) only 4.7 months now, vs. 5.3 months one year ago...houses are selling like hotcakes in Denver, especially under $250K.
Check out this PDF for details of whatever area you are interested in: