Real estate inventory low in Hillsborough

new home; sold sign; real estate_134805

(AP Photo/Mark Humphrey, File)

HILLSBOROUGH COUNTY, FL (WFLA) – For sale signs.  You see them in every city.  Every town.  Every neighborhood.

But, don’t be fooled. Inventory for homes for sale in and around Hillsborough County is extremely low right now, according to experts. And, that makes buying the right home a challenge.

“It’s more difficult than it’s been especially for homes under $300,000,” said real estate agent Barbara Jordan.  “The inventory in that price area is much lower and the time on the market for those homes is less than three months.”

We checked the inventory in Hillsborough County for April of this year. There’s under three months of supply for homes priced at $150,000 to $300,000, according to statistics. That’s the time it would take for all the current inventory to sell without any new inventory coming on the market.

And, it comes at a time when people can easily afford them.

“The unusually low interest rates has created a lot of first time home buyers and a lot of people who may be strayed out of the market,” said realtor Doug Wood.

The hope now is that more affordable homes are put up for sale making the buying process less of a hassle for so many.

“With low interest rates–historically low–it makes affordability much higher,” Wood said.  “But without a lot of inventory, the choices are less.”

Copyright 2021 Nexstar Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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