Single Detached
Months of inventory for single detached homes numbered 4.8 at the end of the third quarter of 2024, up slightly from the 4.7 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, homes 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 single detached homes was 21 in the third quarter of 2024, up from 15 days in the third quarter of 2023.
Townhouse
Months of inventory for townhouse and row units numbered 3.1 at the end of the third quarter of 2024, down slightly from the 3.6 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 tighter 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 22 in the third quarter of 2024, up from 14 days in the third quarter of 2023.
Apartment Units
Months of inventory for apartment units numbered 7.8 at the end of the third quarter of 2024, up from the 4.1 months recorded at the end of the third quarter of 2023. This was the highest level of months of inventory ever recorded in any quarter.
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, apartment 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 apartment units was 34.5 in the third quarter of 2024, up from 22 days in the third quarter of 2023.
