Single Detached
Months of inventory for single detached homes numbered 3.6 at the end of the third quarter of 2024, down slightly from the 3.7 months recorded at the end of the third 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 more time on the market in the third quarter of 2024 than they had a year earlier.
The median number of days on market for sold single detached homes was 15 in the third quarter of 2024, up slightly from 13 days in the third quarter of 2023.
Apartment
Months of inventory for apartment units numbered 6.5 at the end of the third quarter of 2024, up slightly from the 6.2 months recorded at the end of the third 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 more balanced market, apartment units spent more time on the market in the third quarter of 2024 than they had a year earlier.
The median number of days on market for sold apartment units was 33 in the third quarter of 2024, up from 17 days in the third quarter of 2023.
