Inventory condos and single-family homes

The Massachusetts Association of  Realtors reported that the inventory of condos on the market in January went down 5.0% compared to the year before (9,386 listings in 2010 to 8,945 listings in 2011), however, this still amounts  into 11.1 months of supply, which is the same as January 2010 and up from 7.3 months in December 2010.

Detached single-family homes stayed on the market an average of 143 days in January 2011 compared to an average of 130 days in January 2010. Condos stayed on the market an average of 151 days, up from an average of 144 days in January 2010. On a month-to-month basis, days on market for single-family homes were up from 132 days in December 2010, while condos were up from 134 days.

The inventory of single-family homes as of January 31, 2011 increased 4.0 percent from January 2010 (22,707 listings in 2010 to 23,594 listings in 2011) which translates into 11.0 months of supply in January 2011. This is down from 12.0 months of supply last year and up from 7.6 months in December 2010. This was the 11th straight month of inventory gains, but the first single-digit increase after six straight months of double-digit percent increase.

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