Single Detached
Months of inventory for single detached homes numbered 7 at the end of the third quarter of 2024, up from the 6.2 months recorded at the end of the third 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.
Despite a more balanced market, homes spent the same amount of time on the market in the third quarter of 2024 as they had a year earlier.
The median number of days on market for sold single detached homes was 21 in the third quarter of 2024, unchanged from 21 days in the third quarter of 2023.
Townhouse
Months of inventory for townhouse and row units numbered 3.7 at the end of the third quarter of 2024, up slightly from the 3.4 months recorded at the end of the third 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 more balanced market, townhouse and row units spent more time on the market in the third quarter of 2024 than they had a year earlier.
The median number of days on market for sold townhouse and row units was 18 in the third quarter of 2024, up from 12 days in the third quarter of 2023.
Apartment Units
Months of inventory for apartment units numbered 4.4 at the end of the third quarter of 2024, down from the 7.2 months recorded at the end of the third 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 third quarter of 2024 than they had a year earlier.
The median number of days on market for sold apartment units was 19 in the third quarter of 2024, down slightly from 24 days in the third quarter of 2023.
