Single Detached
Months of inventory for single detached homes numbered 5.1 at the end of the fourth quarter of 2022, up from the 1.3 months recorded at the end of the fourth 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, homes spent more time on the market in the fourth quarter of 2022 than they had a year earlier. The median number of days on market for single detached homes was 49 in the fourth quarter of 2022, up from 18 days in the fourth quarter of 2021.
Townhouse
Months of inventory for townhouse and row units numbered 8.5 at the end of the fourth quarter of 2022, up from the 1.1 months recorded at the end of the fourth 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, townhouse and row units spent more time on the market in the fourth quarter of 2022 than they had a year earlier. The median number of days on market for townhouse and row units was 44 in the fourth quarter of 2022, up from 13 days in the fourth quarter of 2021.
Apartment Units
Months of inventory for apartment units numbered 7.1 at the end of the fourth quarter of 2022, up from the 0.9 months recorded at the end of the fourth 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, apartment units spent more time on the market in the fourth quarter of 2022 than they had a year earlier. The median number of days on market for apartment units was 38 in the fourth quarter of 2022, up from 21 days in the fourth quarter of 2021.
