The good news from the Massachusetts Association of Realtors this morning was that single-family and condo sales were up annually across the state in September—almost by double-digit percentages, in fact.
The inventory of unsold single-family homes and condos was either up or rather static; not only that, but it now takes longer to sell a single-family home or a condo in Massachusetts than it did a year ago. Per the Realtors:
The inventory of single-family homes as of September 30, 2011 decreased 7.0 percent from September 2010 (35,340 listings in 2010 to 32,858 listings in 2011) which translates into 10.2 months of supply in September 2011. This is up from 10.0 months of supply last year and down from 10.7 months in August.
The inventory of condominiums on the market in August went down 20.5 percent compared to the year before (13,602 listings in 2010 to 10,813 listings in 2011), which translates into 8.7 months of supply, which is down from 9.4 months in September 2010 and down from 9.0 months in August.
Detached single-family homes stayed on the market an average of 112 days in September 2011 compared to an average of 104 days in September 2010. Condos stayed on the market an average of 116 days in September 2011 compared to an average of 109 days in September 2010. On a month-to-month basis, days on market for single-family homes were up from 106 days in August, while condos were up from 105 days.