Non-waterfront Residential
Months of inventory for non-waterfront residential properties numbered 5.3 at the end of the first quarter of 2024, up from the 3.5 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 more balanced market, non-waterfront properties spent more time on the market in the first quarter of 2024 than they had a year earlier.
The median number of days on market for non-waterfront properties was 33.5 in the first quarter of 2024, up from 24 days in the first quarter of 2023.
Waterfront
Months of inventory for waterfront properties numbered 8.8 at the end of the first quarter of 2024, up from the 5.9 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.
Despite a more balanced market, waterfront properties 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 waterfront properties was 30 in the first quarter of 2024, down slightly from 33 days in the first quarter of 2023.
