Shrinking supply of Tampa Bay condos and townhomes drives up prices

Sales of condos and townhomes in the Tampa Bay area jumped 9.5 percent in March, hitting a median of $156,000.

The price gain was prompted in part by a supply shortage, with sales down 7.5 percent amid a dwindling inventory. Statewide, sales also lagged slightly while prices rose 7 percent to a median of $183,000.