Tampa area homeowners sold 1,440 homes in May, the highest sales total in nearly two years, the Greater Tampa Association of Realtors said.

May's sales total represented a 9.4 percent improvement over the 1,316 homes that sold in May 2008. The last time so many homes changed hands was in June 2007.

Price is another matter. From year to year, the average sales price cratered by 32.5 percent from $244,977 to $165,425. Foreclosure sales accounted for the steepness of the drop.

The inventory of unsold homes continues to shrink. Realtors reported 15,273 listings in and around Hillsborough County in May. The peak was 20,942 listings in October 2007.

James Thorner may be reached at jthorner@sptimes.com or (813) 226-3313.