Home sales in Tampa Bay and Florida slow down as inventory shrinks

Tampa Bay fared better than Florida as a whole in October homes sales but the gains weren’t as impressive as in some previous months.

Year-over-year sales of single-family homes rose 8.7 percent in Hillsborough and 6 percent in Pinellas, but inched up less than 3 percent in Pasco. Hernando actually saw a drop with 6 percent fewer sales this October compared with last.

One explanation for the less-than-spectacular results: fewer homes to choose from. All four counties had far fewer active listings last month than they did in October 2014.

“It’s all an inventory issue,” Charles Richardson, senior regional vice president of Coldwell Banker, said Monday. “Closed sales are going to follow inventory — if there’s less to be sold, there’s less to buy.”

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John William is a cum laude graduate of the University of Miami, and has spent his lifetime in sales and marketing. The fourth generation to join his family business, John William manages all luxury residential sales and transactions within the Tampa Bay and South Florida markets. A keen industry insider with a finger on the pulse of the area, He is an expert identifying high-return acquisition and development opportunities for hungry investors both large and small while simultaneously working with homeowners and homebuyers to buy and sell the home of their dreams… often times without the need of the MLS or a For Sale sign. He also oversees all digital and print marketing for the company, and handles all sales training for new and established agents alike. He is a member of the Board of Directors of Brookwood Florida, the oldest charity in Florida, and works to raise millions of dollars annually for local charities and museums.