Single detached
Months of inventory for single detached homes numbered 1 at the end of the first quarter of 2022, up slightly from the 0.7 months recorded at the end of the first quarter of 2021.
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, homes spent the same amount of time on the market in the first quarter of 2022 as they had a year earlier.
The median number of days on market for single detached homes was 7 in the first quarter of 2022, unchanged from 7 days in the first quarter of 2021. This was the lowest level of median number of days on market for single detached homes ever recorded in any quarter.
Semi-detached
Months of inventory for semi-detached units numbered 0.8 at the end of the first quarter of 2022, up slightly from the 0.5 months recorded at the end of the first quarter of 2021.
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 first quarter of 2022 than they had a year earlier.
The median number of days on market for semi-detached units was 7 in the first quarter of 2022, up slightly from 6 days in the first quarter of 2021.
Condominium townhouse
Months of inventory for condominium townhouse units numbered 0.4 at the end of the fourth quarter of 2021, down slightly from the 0.6 months recorded at the end of the fourth quarter of 2020. This was the lowest level of months of inventory ever recorded in any 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.
With a tighter market, condominium townhouse units spent less time on the market in the fourth quarter of 2021 than they had a year earlier.
The median number of days on market for condominium townhouse units was 8 in the fourth quarter of 2021, down from 16 days in the fourth quarter of 2020. This was the lowest level of median number of days on market for condominium townhouse units ever recorded in any quarter.
Condominium apartment
Months of inventory for condominium apartment units numbered 0.9 at the end of the first quarter of 2022, up slightly from the 0.7 months recorded at the end of the first quarter of 2021.
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, condominium apartment units spent less time on the market in the first quarter of 2022 than they had a year earlier.
The median number of days on market for condominium apartment units was 8 in the first quarter of 2022, down from 14 days in the first quarter of 2021. This was the lowest level of median number of days on market for apartment units ever recorded in any quarter.
