The market is steadier and more balanced with approximately 400 residential units actively for sale throughout the county, which is a small increase in overall inventory. Interest rates appear to be dropping so more buyers are returning to the market as a result, even at the upper price points where many buyers prefer to utilize financing whenever possible. We are also starting to see an increase in average days on market (around 90 days) as well as more frequent price reductions. Up Valley, particularly in the resort villages of Vail and Beaver Creek, we are seeing consistently strong demand under $3m. In the higher price points, demand is somewhat lower as potential buyers are hesitant due to economic concerns. 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 extremely low.
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