In today's difficult housing market, the old real estate adage that location is everything is as true as ever.  Here are some examples taken from the Metrolist:

In the Aurora South area the number of closings for August 2010 were down -38.4% from August 2009.  The average price sold was also down for the same period by -5.4% (from $101,730 in 2009 to $91,509 in 2010.)  The number of active listings are up by +61.0%  These are the kinds of numbers we hear on the news and would expect to hear right now; given the unstable economy.

However, go south a bit on Highway 83 (Parker Road) and the picture changes.  In the Douglas, Elbert, Parker area which includes Parker, Elizabeth, Franktown, Kiowa the picture begins to change.  The number of closings are down only -1.4% August 2009 to August 2010, and average price sold are up +7.4%  for the same time period. In this area, the number of active listings are up +9.2%.

Moving a little more south and west to the Douglas County West area which includes Castle Rock, Larkspur, Sedalia, Palmer Lake and part of Littleton the numbers look very different.  The number of closings are down -19.9% August 2009 to August 2010, but the average price sold is up a wapping +11.2% with the number of active listings down -6.6%.

This is just a small sampling of three areas that are fairly close and even share some common boundaries.  Yet, the amount of inventory available, the number of closings and the average price sold, proportionately, are all very different.  Again, this reinforces that location is important, and it is key for customers to work with realtors who know and understand these trends.  Prices may be plunging in one area, but they may be climbing just a short distance away.  

This market is very fragile, and we are seeing the trends being very different from one neighborhood to another, or from one area of town to another.