Sewalls Point Single Family Market Report March 2016

Sewalls Point Single Family Market Report March 2016

Sewalls Point Real Estate Snapshot, Residential Sales for March 2016

There are currently 70 active listings (Up by 14 homes since last month)

14 home sales are pending and awaiting close or lender approval (Increased by 2 homes from February)

6 Homes sold in March (No change in sales from February)

The single family real estate market in Sewalls Point had a surprising increase in inventory for March while sales remained unchanged, thus pushing the absorption rate higher.  Pending sales were up slightly.  There does seem to be increasing activity in Sewalls Point, though it does remain a slower moving market as many of the Sewalls Point properties are in the higher end range of the Martin County real estate market.

The current absorption rate rose to 11.7 months, in February it was 9.3 months. Still a great buyers market for Sewalls Point.  A 6 to 7 month absorption rate is considered a balanced market where neither the seller nor buyer have an advantage.

Comparing the results to March of 2014, the inventory was 72 homes on the market, 17 pending sales and there were 3 closed sales.  Better closed activity when compared to last year and the inventory is also approaching last years numbers.

 Search below for Sewalls Point Florida Real Estate for Sale