The Collaborative International Dictionary of English v.0.48:

Availability \A*vail`a*bil"i*ty\, n.; pl. Availabilities.
   1. The quality of being available; availableness.
      [1913 Webster]

   Note: The word is sometimes used derogatively in the sense of
         "mere availableness," or capability of success without
         regard to worthiness.
         [1913 Webster]

               He was . . . nominated for his availability.
                                                  --Lowell.
         [1913 Webster]

   2. That which is available.
      [1913 Webster]