Market Report: Sewalls Point, Florida Real Estate Snapshot, Residential Sales for August 2011

There are currently 37 active listings (a reduction of 15 homes for sale from June)

13 Residential sales are pending and awaiting close or lender approval (Down 2 from June)

4 Homes sold in August (much better than the zero sales from June)

In August of 2011, 4 homes were sold in Sewalls Point. Much better than the zero sales from June.  But not as good as the 8 homes that sold in July, which included 3 waterfront homes.  The inventory is down considerably which makes Sewalls Point homes of good value much more difficult to find and more attractive.  Unfortunately at this point, the economy is also a big question mark and many upscale buyers are nervous about making a move in such uncertain times, even though interest rates are at historic all-time lows.  Along with the low-interest rates, lenders have made their loan products more difficult to obtain with much more stringent standards than before.