Sewalls Point Single Family Market Report November 2015

Sewalls Point Single Family Market Report November 2015

Sewalls Point Real Estate Snapshot, Residential Sales for November 2015

 

There are currently 51 active listings (Down by 11 homes since last month)

Sewalls Point Single Family Market Report November 2015

13 home sales are pending and awaiting close or lender approval (Increased by 4 homes from October)

Sewalls Point Single Family Market Report November 2015

3 Homes sold in November (Down by 5 sales from October)

Sewalls Point Single Family Market Report November 2015

The single family real estate market in Sewalls Point had a poor month for closed sales in November, though other indications of future activity look very positive.  The inventory is down to a much more reasonable level from past months and pending sales are also looking very positive.

The current absorption rate climbed to 17 months, in October it was 7.8 months. a strong buyers market for Sewalls Point.  Though, if the trend for improving sales continue, this may soon come to an end.  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 November of 2014, the inventory was 57 homes on the market, 8 pending sales and there were 18 closed sales.  Considerably better closed activity last year for the Sewalls Point single family home market, though pending sales look better this year.

Sewalls Point Single Family Market Report November 2015

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Sewalls Point Single Family Market Report November 2015

 

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