There are fewer homes available for sale in Tampa. A study of housing sales data reveals that inventory levels in Hillsborough County and Pasco County have declined from 24.4 months in January to 15.3 months of inventory in October 2008. The data was compiled through the Multiple Listing Service (MLS) and includes homes for sale by Tampa Realtors – which usually represent 85% of all home sales in the Tampa Bay area.
At the current sales rate, it would take just over 15 months to sell all the existing homes in Hillsborough and Pasco (assuming that no additional homes entered the market). Housing inventory levels are obtained by dividing the number of available homes by the number that close each month. The chart below shows inventory levls for the past 3 years.
- By Dale Bohannon
