Single detached
Months of inventory for single detached homes numbered 0.4 at the end of the first quarter of 2024, down from the 1.5 months recorded at the end of the first quarter of 2023. 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.
Despite a tighter market, homes 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 single detached homes was 13 in the first quarter of 2024, up slightly from 12 days in the first quarter of 2023.
Semi-detached
Months of inventory for semi-detached units numbered 0.2 at the end of the first quarter of 2024, down from the 0.8 months recorded at the end of the first quarter of 2023. 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.
Despite a tighter market, semi-detached units 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 semi-detached units was 10 in the first quarter of 2024, up slightly from 9 days in the first quarter of 2023.
Condominium townhouse
Months of inventory for condominium townhouse units numbered 0.3 at the end of the first quarter of 2024, down from the 1.4 months recorded at the end of the first quarter of 2023. 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.
Despite a tighter market, condominium townhouse units 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 condominium townhouse units was 20 in the first quarter of 2024, up slightly from 16 days in the first quarter of 2023.
Condominium apartment
Months of inventory for condominium apartment units numbered 0.6 at the end of the first quarter of 2024, down from the 1.8 months recorded at the end of the first quarter of 2023. 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.
Despite a tighter market, condominium apartment units 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 condominium apartment units was 25 in the first quarter of 2024, up slightly from 21 days in the first quarter of 2023.
