The inventory of single-family homes in Massachusetts as of March 31, 2011 decreased 4 percent from March 2010 (27,362 listings in 2010 to 23,381 listings in 2011), an amount that into 11.8 months of supply in March 2011, the Massachusetts Association of REALTORS reported April 28, 2011.
Single-family inventory is up from 9.5 months of supply last year, but down from 14.4 months in February 2011. March saw the second straight year-over-year decrease in inventory after 11th straight months of inventory increases.
The inventory of Massachusetts condominiums in March declined 10 percent compared to the year before (11,709 listings in 2010 to 10,510 listings in 2011), an amount that translates into 10.6 months of supply, which is up from 9.0 months in March 2010, but down from 14.1 months in February 2011.
Detached single-family homes stayed on the market an average of 154 days in March 2011 compared to an average of 132 days in March 2010. Condos stayed on the market an average of 154 days, up from an average of 137 days in March 2010.