Single Detached
Months of inventory for single detached homes numbered 2.2 at the end of the second quarter of 2023, down from the 2.9 months recorded at the end of the second quarter of 2022.
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, homes spent more time on the market in the second quarter of 2023 than they had a year earlier.
The median number of days on market for single detached homes was 12 in the second quarter of 2023, up slightly from 8 days in the second quarter of 2022.
Townhouse
Months of inventory for townhouse and row units numbered 2.2 at the end of the second quarter of 2023, down from the 3.1 months recorded at the end of the second quarter of 2022.
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 second quarter of 2023 than they had a year earlier.
The median number of days on market for townhouse and row units was 14 in the second quarter of 2023, up slightly from 9 days in the second quarter of 2022.
Apartment Units
Months of inventory for apartment units numbered 2.4 at the end of the second quarter of 2023, up slightly from the 2.3 months recorded at the end of the second quarter of 2022.
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 second quarter of 2023 than they had a year earlier.
The median number of days on market for apartment units was 16 in the second quarter of 2023, up from 10 days in the second quarter of 2022.
