Single Detached
Months of inventory for single detached homes numbered 1.2 at the end of the first quarter of 2024, down slightly from the 1.7 months recorded at the end of the first quarter of 2023.
The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.
With a tighter market, homes spent less time on the market in the first quarter of 2024 than they had a year earlier.
The median number of days on market for single detached homes was 15 in the first quarter of 2024, down slightly from 18 days in the first quarter of 2023.
Townhouse
Months of inventory for townhouse and row units numbered 0.8 at the end of the first quarter of 2024, down slightly from the 1.1 months recorded at the end of the first quarter of 2023.
The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.
With a tighter market, townhouse and row units spent less time on the market in the first quarter of 2024 than they had a year earlier.
The median number of days on market for townhouse and row units was 13 in the first quarter of 2024, down slightly from 16 days in the first quarter of 2023.
Apartment Units
Months of inventory for apartment units numbered 1.1 at the end of the first quarter of 2024, down slightly from the 1.5 months recorded at the end of the first quarter of 2023.
The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.
With a tighter market, apartment units spent less time on the market in the first quarter of 2024 than they had a year earlier.
The median number of days on market for apartment units was 16 in the first quarter of 2024, down slightly from 20 days in the first quarter of 2023.
