Single Detached
Months of inventory for single detached homes numbered 4.4 at the end of the first quarter of 2024, down slightly from the 4.8 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 tighter market, homes spent the same amount of time on the market in the first quarter of 2024 as they had a year earlier.
The median number of days on market for single detached homes was 43 in the first quarter of 2024, unchanged from 43 days in the first quarter of 2023.
Apartment
Months of inventory for apartment units numbered 3.2 at the end of the first quarter of 2024, down from the 3.9 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.
With a tighter market, apartment units 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 apartment units was 33 in the first quarter of 2024, down from 49 days in the first quarter of 2023.
