The market has slowed noticeably now that inventory has rapidly increased to 650 residential units actively for sale throughout the county, which is the highest level of inventory since early 2020. Interest rates appear to be holding steady and future adjustments to current interest rates will be the result of upcoming Federal fiscal policy. We are also starting to see an increase in average days on market at approximately 130 days, as well as more frequent price reductions, withdrawn and expired listings. Down Valley, we are seeing consistently stronger demand than for up- valley properties due to more affordable pricing. Prices are remaining steady with about 5% appreciation annually. We are still occasionally seeing multiple offers on a handful of properties in neighborhoods where inventory is low and properties are priced "right" based on the most recent market data.
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