Non-waterfront Residential:
Months of inventory for non-waterfront residential properties numbered 2.5 at the end of the first quarter of 2020, down slightly from the 3 months recorded at the end of the first quarter of 2019.
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, non-waterfront properties spent less time on the market in the first quarter of 2020 than they had a year earlier.
The median number of days on market for non-waterfront properties was 25 in the first quarter of 2020, down slightly from 29 days in the first quarter of 2019.
Waterfront properties:
Months of inventory for waterfront properties numbered 10.2 at the end of the first quarter of 2020, up from the 7.6 months recorded at the end of the first quarter of 2019.
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 2020 than they had a year earlier.
The median number of days on market for waterfront properties was 38.5 in the first quarter of 2020, down slightly from 39 days in the first quarter of 2019.
