Tampa Bay housing inventory drops as home sales soar

In the last year, the Tampa Bay area had the 10th largest decline in housing inventory out of the country's 50 largest metros, according to a recent realtor.com report.

Why it matters: High demand and unusually low inventory is a recipe for rising home prices. In other words, it's a sellers' market.

By the numbers:

• Inventory is down 53% compared to this time last year.
• There are also 31.8% fewer listings compared to this time last year.
• The median number of days on the market is 57, nine fewer than last year.
• Median list price is up 8.2% year over year, at $302K.

This story first appeared in the Axios Tampa Bay newsletter, designed to help readers get smarter, faster on the most consequential news unfolding in their own backyard.

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