Inventory and Days on Market:
The inventory of single-family homes as of April 30, 2010 increased 6.0 percent from April 2009 (28,404 listings in 2009 to 30,101 listings in 2010) which translates into 8.6 months of supply in April 2010. This is down from 11.6 months of supply last year and down from 9.5 months in March 2010. This is the second straight month that the inventory of homes for sale has gone up compared to the same month the year before.
The inventory of condominiums on the market in April was the same as the year before (12,460 listings in 2009 to 12,474 listings in 2010), which translates into 8.0 months of supply, which is down from 13.0 months in April 2009 and down from 9.0 months this past March. This is the second straight month since back in March 2008 that inventory didn’t go down compared to the same month the year before.
Detached single-family homes stayed on the market an average of 123 days in April 2010 compared to an average of 155 days in April 2009, while condos stayed on the market an average of 133 days, down from an average of 140 days in April 2009. On a month-to-month basis, days on market for single-family homes were down from 132 days and condos were down from 137 days in February.