Sewalls Point Residential Market Report November 2012

Sewalls Point Real Estate Snapshot, Residential Sales for November 2012

There are currently 41 active listings (a decrease of 6 home for sale from October)

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10 Residential sales are pending and awaiting close or lender approval (a decrease of 7 homes from October)

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8 Homes sold in October (Up 1 from October)

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Continued strong activity for the Sewalls Point market report for November 2012.  A very good month for sales with 8 closings.  Pending sales were off  (by 7 homes) while the inventory is now down to 41 homes.  This is getting to be pretty slim for Sewalls Point.

The absorption rate now stands at 5.1 months.  This is an indication of a transition into a slight sellers market.  Where a seller has an advantage over the buyer because of the low supply and high demand.  A balanced market is considered to be when the absorption rate is 6 months.

Comparing the results to November of 2011, the inventory was at 49 homes homes on the market last year, pending sales numbered only 13 homes, and there was only 3 sale.

Sewalls Point Residential Market Report September 2012

Sewalls Point Real Estate Snapshot, Residential Sales for September 2012

There are currently 50 active listings (a decrease of 7 home for sale from August)

20 Residential sales are pending and awaiting close or lender approval (an increase of 4 homes from August)

3 Homes sold in August (Unchanged from August)

Surprisingly, the Sewalls Point market report for September 2012 showed a small increase in activity during a seasonally slow time by historical standards..  Sales remained steady at three homes but the homes under contract rose to 20 units, which should translate to higher fall sales and the inventory decreased to 50 homes, which is fairly low at this time for Sewalls Point.

Comparing the results to September of 2011, the inventory was at 53 homes homes on the market last year, pending sales numbered only 9 homes, and there were 4 sales from $287,000 to $4,325,000.  This years sales were between $530,000 to $1,670,000.   Better

Sewalls Point Residential Market Report August 2012

Sewalls Point Real Estate Snapshot, Residential Sales for August 2012

There are currently 57 active listings (an increase of 1 home for sale from July)

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16 Residential sales are pending and awaiting close or lender approval (am increase of 2 homes from July)

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3 Homes sold in July (Down 2 from July)

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The Sewalls Point market report for August 2012 remained pretty static compared to the spring when we had much greater activity.  There is still a fairly high inventory of Sewalls Point homes on the active market, though with 16 pending sales, this number should decrease if these sales close.  Then it will depend on whether or not more home owners decide to sell their homes or not.  The demand for well priced Sewalls Homes is strong, unfortunately demand for many homes in the higher price ranges is just not there at the present time.

Comparing the results to August of 2011, the inventory higher this year as there were only 37 homes on the market last year, pending sales numbered 13, and there were 4 sales from $325,000 to $819,000.  Considerably better numbers last year. Hopefully the Sewalls Point real estate market will show some better activity in the coming season.

Sewalls Point Residential Market Report July 2012

Sewalls Point Real Estate Snapshot, Residential Sales for July 2012

There are currently 56 active listings (a decrease of 9 homes for sale from April)

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14 Residential sales are pending and awaiting close or lender approval (A decrease of 4 from April)

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5 Homes sold in April (Down 1 from April)

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The Sewalls Point market report for July 2012 remained pretty static compared to last months numbers with the exception of one less home for sale.  Whether this is a sign of the sold listings or sellers waiting for the season to sell, remains to be seen.   One high end home sold for $2,900,000 last month and the other four sales ranged from the 300’s to the 500’s price range.  Both pending and sold numbers remain unchanged from June.

Comparing the results to July of 2011, the inventory slightly higher this year as there were 52 homes on the market last year, pending sales were 15, and no homes sold.  Considerably better numbers this year as the Sewalls Point real estate market is showing signs of a rebound.

Sewalls Point Market Report – Residential, June 2012

Sewalls Point Real Estate Snapshot, Residential Sales for June 2012

There are currently 57 active listings (a decrease of 9 homes for sale from April)

14 Residential sales are pending and awaiting close or lender approval (A decrease of 4 from April)

5 Homes sold in April (Down 1 from April)

The Sewalls Point market report for June 2012 remained pretty static compared to last month’s numbers with the exception of a lower inventory.  Whether this is a sign of the sold listings or sellers waiting for the season to sell, remains to be seen.  The sales in June were mostly good value sales with 4 out of 5 above the $500,000 selling price.  Homes that are well-presented and fairly priced are selling.

Comparing the results to June of 2011, the inventory slightly higher this year as there were 52 homes on the market last year, pending sales were 15, and no homes sold.  Considerably better numbers this year as the Sewalls Point real estate market is showing signs of a rebound.

Sewalls Point Residential Market Report for May 2012

Sewalls Point Real Estate Snapshot, Residential Sales for May 2012

There are currently 66 active listings (an increase of 3 homes for sale from April)

18 Residential sales are pending and awaiting close or lender approval (A decrease of 1 from April)

6 Homes sold in April (Up 4 from April)

For the  Sewalls Point market report residential, May 2012, we finally saw some signs of life.  Sales increased in May to 6 homes, of which two were over the million dollar mark and another very close.  The inventory remains fairly high and pending sales were basically unchanged from last month.

Comparing the results to May of 2011, the inventory is basically unchanged as there were 58 homes on the market last year, pending sales were 10, and 4 homes sold.  While we have better activity this year, the fairly high number of active listings will make it difficult for sellers and the opportunity is certainly available for buyers who may want to live in Sewalls Point.

Sewalls Point Market Report – Residential, April 2012

Sewalls Point Real Estate Snapshot, Residential Sales for April 2012

There are currently 63 active listings (an increase of 2 homes for sale from March)

19 Residential sales are pending and awaiting close or lender approval (An increase of 5 from March)

2 Homes sold in March (Down 1 from March)

The market remains slow for the Sewalls Point real estate area of Martin County, Florida.  The one bright note is a fairly large increase in pending sales.  This will hopefully translate into some healthier numbers of closed sales in the near future.  Both closed sales and inventory remain basically unchanged from last month.

Comparing the results to April of 2011, the inventory is basically unchanged as there were 60 homes on the market last year, pending sales were 12, and 5 homes sold. Closed sales were higher last year.  We should see closed sales for the near future catch up with last years figures as the higher number of this years pending sales close.

Sewalls Point Market Report – Residential, March 2012

Sewalls Point Real Estate Snapshot, Residential Sales for March 2012

There are currently 61 active listings (a decrease of 5 homes for sale from February)

12 Residential sales are pending and awaiting close or lender approval (An increase of 3 from February)

3 Homes sold in February (Unchanged from February)

Better results for the Sewalls Point market report. Inventory has gone down a little (5) to 61 homes while sales remained slow at 3 closed homes and pending sales were up slightly to 12 homes. Compared to other parts of martin County which continue to have fairly strong results, the Sewalls Point market is a bit sluggish, but showing activity is high and I suspect we should have increasing sales in the next few months. The Sewalls Point price point remains high for many of today’s buyers and this is possibly what is causing the slow activity at present.

Comparing the results to March of 2011, the inventory is basically unchanged as there were 60 homes on the market last year, pending sales were 11, and 2 homes sold.  Basically the same as last year.  The Sewalls Point average price point remains high for many of today’s buyers and this is possibly what is causing the slow activity at present.