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Tampa Bay homes selling less quickly than in many other areas

Despite a booming market, homes in the Tampa Bay area took longer to sell in 2017 than those in many other parts of the country.  [AP File photo, 2014]
Despite a booming market, homes in the Tampa Bay area took longer to sell in 2017 than those in many other parts of the country. [AP File photo, 2014]
Published Apr. 17, 2018

Despite a booming market, homes in the Tampa Bay area took longer to sell in 2017 than those in many other parts of the country.

According to Zillow, the average time between listing and closing for a bay area home was 81 days last year, the same as the national average and fewer than in Orlando (86 days) and Miami (110 days). But in 29 of the nation's 35 largest housing markets, homes sold in under 81 days.

RELATED COVERAGE: Who bought Tampa Bay's priciest homes in 2017?

Still, 15.6 percent of Tampa Bay homes — more than one in six — sold last year for more than the asking price as inventory shrank 9.4 percent compared to the previous year.

The fastest-selling market in 2017 was San Jose, Calif., where the typical home sold in 41 days. San Jose also experienced the biggest drop in inventory over the past year, with 26.8 percent fewer homes to choose from than a year earlier.

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