Single detached
Months of inventory for single detached homes numbered 0.6 at the end of the second quarter of 2024, unchanged from the 0.6 months recorded at the end of the second quarter of 2023. This was the lowest level of months of inventory ever recorded in a second 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.
Despite an equally balanced market, homes spent more time on the market in the second quarter of 2024 than they had a year earlier.
The median number of days on market for sold single detached homes was 13 in the second quarter of 2024, up slightly from 9 days in the second quarter of 2023.
Semi-detached
Months of inventory for semi-detached units numbered 0.4 at the end of the second quarter of 2024, up slightly from the 0.3 months recorded at the end of the second 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, semi-detached units spent more time on the market in the second quarter of 2024 than they had a year earlier.
The median number of days on market for sold semi-detached units was 12 in the second quarter of 2024, up slightly from 8 days in the second quarter of 2023.
Condominium townhouse
Months of inventory for condominium townhouse units numbered 0.6 at the end of the second quarter of 2024, unchanged from the 0.6 months recorded at the end of the second quarter of 2023. This was the lowest level of months of inventory ever recorded in a second 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.
Despite an equally balanced market, condominium townhouse units spent more time on the market in the second quarter of 2024 than they had a year earlier.
The median number of days on market for sold condominium townhouse units was 16 in the second quarter of 2024, up from 10 days in the second quarter of 2023.
Condominium apartment
Months of inventory for condominium apartment units numbered 0.9 at the end of the second quarter of 2024, up slightly from the 0.7 months recorded at the end of the second 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, condominium apartment units spent more time on the market in the second quarter of 2024 than they had a year earlier.
The median number of days on market for sold condominium apartment units was 23 in the second quarter of 2024, up from 16 days in the second quarter of 2023.
