Sewalls Point Single Family Market Report October 2018

Sewalls Point Real Estate Snapshot, Residential Sales for October 2018

There are currently 57 active listings (Up by 6 homes from last month)

6 home sales are pending and awaiting close or lender approval (Down by 2 homes from September)

7 Homes sold in October (Decreased by 1 home sales from September)

The single-family real estate market in Sewalls Point has been showing increases in inventory.  Sales were off slightly from last month and pending sales were down as well.

The absorption rate rose to 8.1 months, in September it was 6.4 months.  Back into a 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 October 2017, the inventory was 41 homes on the market, 15 pending sales and there were 1 closed sales.  The inventory and sales are up for Sewalls Point in 2018.

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Sewalls Point Single Family Market Report September 2018

Sewalls Point Real Estate Snapshot, Residential Sales for September 2018

There are currently 51 active listings (Down by 1 home from last month)

8 home sales are pending and awaiting close or lender approval (Down by 4 homes from August)

8 Homes sold in September (Increased by 5 homes sales from August)

The single-family real estate market in Sewalls Point had a strong month for closed sales but did have a drop in the  number of pending sales.  Pretty good rebound after a very slow August.

The absorption rate plunged to 6.4 months, in August was 17.3 months.  Back into a balanced 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 September 2017, the inventory was 43 homes on the market, 4 pending sales and there were 4 closed sales.  Much stronger market activity for 2018 in Sewalls Point.

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Sewalls Point Single Family Market Report August 2018

Sewalls Point Real Estate Snapshot, Residential Sales for August 2018

There are currently 52 active listings (Up by 2 homes from last month)

12 home sales are pending and awaiting close or lender approval (Up by 6 homes from July)

3 Homes sold in August (Decreased by 6 homes sales from July)

The single-family real estate market in Sewalls Point had a weak month for closed sales but did have an improved number of pending sales.  Hopefully, this will result in greater closed sales volume in the near future.

The absorption rate shot up to 17.3 months, in July was 5.6 months.  Back into a strong buyer’s 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 August 2017, the inventory was 54 homes on the market, 6 pending sales and there were 1 closed sales.  Better activity this year with plenty of room for improvement.

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Sewalls Point Single Family Market Report July 2018

Sewalls Point Real Estate Snapshot, Residential Sales for July 2018

There are currently 50 active listings (Up by 4 homes from last month)

6 home sales are pending and awaiting close or lender approval (Down by 4 homes from June)

9 Homes sold in July (Increased by 3 homes sales from June)

The single-family real estate market in Sewalls Point had increased closed sales for the month but not as many pending sales.  his could be an indication of fewer closed sales in the coming months.

The absorption rate dipped to 5.6 months, in June was 7.7 months.  Transitioning into a seller’s 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 July 2017, the inventory was 43 homes on the market, 8 pending sales and there were 8 closed sales.  Better activity last year with less inventory, except for one greater closed sale for this year.

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Sewalls Point Single Family Market Report June 2018

Sewalls Point Real Estate Snapshot, Residential Sales for June 2018

There are currently 46 active listings (Down by 5 homes from last month)

10 home sales are pending and awaiting close or lender approval (Down by 2 homes from May)

6 Homes sold in June (Decreased by 1 homes sales from May)

The single-family real estate market in Sewalls Point retreated for the second month in a row.  The inventory of active listings was down as was pending and closed sales.

The absorption rate rose to 7.7 months, in May was 7.3 months.  Remaining in a buyer’s 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 June 2017, the inventory was 57 homes on the market, 14 pending sales and there were 16 closed sales.  Considerably better activity last year in Sewalls Point.

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Sewalls Point Single Family Market Report May 2018

Sewalls Point Real Estate Snapshot, Residential Sales for May 2018

There are currently 51 active listings (Up by 1 homes from last month)

12 home sales are pending and awaiting close or lender approval (Unchanged from April)

7 Homes sold in June (Decreased by 3 homes sales from April)

The single-family real estate market in Sewalls Point retreated a bit for May.  Sales were down while pending sales remained unchanged on just a little higher inventory.

The absorption rate jumped up to 7.3 months, in April was 5 months.  Back into a buyer’s market in 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 April 2017, the inventory was 60 homes on the market, 22 pending sales and there were 9 closed sales.  Considerably better activity last year in Sewalls Point.

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Sewalls Point Single Family Market Report April 2018

Sewalls Point Real Estate Snapshot, Residential Sales for April 2018

There are currently 50 active listings (Up by 2 homes from last month)

12 home sales are pending and awaiting close or lender approval (Decreased by 4 homes from March)

10 Homes sold in June (Increased by 6 homes sales from March)

The single-family real estate market in Sewalls Point had excellent sales activity for April.  Unfortunately, pending sales were off, so I’m not sure how long this good activity will last.

The absorption rate plunged to 5 months, in March was 12 months.  Transitioning into a seller’s market in Sewalls Point for the first time in quite a while.  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 2016, the inventory was 65 homes on the market, 18 pending sales and there were 7 closed sales.  Sales activity was better this year, but pending sales are not looking so good.

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Sewalls Point Single Family Market Report March 2018

Sewalls Point Real Estate Snapshot, Residential Sales for March 2018

There are currently 48 active listings (Down by 2 homes from last month)

16 home sales are pending and awaiting close or lender approval (Increased by 5 homes from February)

4 Homes sold in June (Increased by 1 homes sales from February)

The single-family real estate market in Sewalls Point showed increased activity when compared to last month but still has much room for improvement.  The inventory of available homes is now very low and affecting sales activity.

The absorption rate fell to 12 months, in February was 16.7 months.  Remaining in a buyer’s market for Sewalls Point single-family homes.  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 February 2016, the inventory was 66 homes on the market, 21 pending sales and there were 9 closed sales.  Better activity last March when there was a greater number of homes for sale.

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Sewalls Point Single Family Market Report February 2018

Sewalls Point Real Estate Snapshot, Residential Sales for February 2018

There are currently 50 active listings (No change in active listings from last month)

11 home sales are pending and awaiting close or lender approval (Increased by 1 homes from January)

3 Homes sold in June (Decreased by 3 homes sales from January)

The single-family real estate market in Sewalls Point had weaker sales results as compared to both last month and last year.  The inventory of available homes continues to be an issue being at very low levels.

The absorption rate jumped to 16.7 months, in January was 8.3 months.  Going back towards a stronger buyer’s market for Sewalls Point single-family homes.  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 January 2016, the inventory was 67 homes on the market, 15 pending sales and there were 5 closed sales.  Better activity last February tough there is a lower number of available homes for sale this year.

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Sewalls Point Single Family Market Report January 2018

Sewalls Point Real Estate Snapshot, Residential Sales for January 2018

There are currently 50 active listings (Up by 4 homes from last month)

10 home sales are pending and awaiting close or lender approval (Decreased by 3 homes from December)

6 Homes sold in June (Increased by 3 homes sales from December)

The single-family real estate market in Sewalls Point rebounded some from a weak December.  The inventory of available homes continues to be an issue being at very low levels.

The absorption rate dropped to 8.3 months, in December was 15.3 months.  Still, a buyer’s market for Sewalls Point single-family homes, though trending in the right direction.  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 December 2016, the inventory was 67 homes on the market, 11 pending sales and there were 4 closed sales.  Better activity this year even though there’s less inventory.

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Sewalls Point Single Family Market Report December 2017

Sewalls Point Real Estate Snapshot, Residential Sales for December 2017

There are currently 46 active listings (Down by 1 homes from last month)

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

3 Homes sold in June (Decreased by 7 homes sales from November)

The single-family real estate market in Sewalls Point had a weak month for closed sales, but did show an increase inpending sales.  The inventory of available homes is now down to historically low numbers.

The absorption rate jumped to 15.3 months, in November was 4.7 months.  Back into a buyer’s market for Sewalls Point single family homes after only a single month in a seller’s market.  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 December 2016, the inventory was 62 homes on the market, 10 pending sales and there were 11 closed sales.  Better sales activity last year on a significantly greater invenotry.

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Sewalls Point Single Family Market Report November 2017

Sewalls Point Real Estate Snapshot, Residential Sales for November 2017

There are currently 47 active listings (Up by 6 homes from last month)

9 home sales are pending and awaiting close or lender approval (Decreased by 6 homes from October)

10 Homes sold in June (Increased by 9 homes sales from October)

The single-family real estate market in Sewalls Point continues to have less inventory of available homes for sale.  Pending sales dropped for last month while closed sales were impressive.  A good showing for Sewalls Point for November 2017.

The absorption rate dropped to 4.7 months, in October was 41 months.  Into a seller’s market for Sewalls Point single family homes for the first time in many years.  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 2016, the inventory was 74 homes on the market, 11 pending sales and there were 2 closed sales.  Considerably better sales activity this year, even with significantly lower inventory.

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Sewalls Point Single Family Market Report October 2017

Sewalls Point Real Estate Snapshot, Residential Sales for October 2017

There are currently 41 active listings (Down by 2 homes from last month)

15 home sales are pending and awaiting close or lender approval (Increased by 11 homes from September)

1 Homes sold in June (Decreased by 3 homes sales from September)

The single family real estate market in Sewalls Point continues to have less inventory of available homes.  Pending sales rose sharply for last month while closed sales were off.  Most likely a result of Hurricane Irma from the previous month that closed the real estate business for a few weeks.

The absorption rate shot up to 41 months, in September was 10.8 months.  An extreme buyer’s market for Sewalls Point single family homes.  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 October 2016, the inventory was 79 homes on the market, 10 pending sales and there were 6 closed sales.  Considerably better sales activity last year, also with much greater inventory of homes for sale..

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Sewalls Point Single Family Market Report September 2017

Sewalls Point Real Estate Snapshot, Residential Sales for September 2017

There are currently 43 active listings (Down by 11 homes from last month)

4 home sales are pending and awaiting close or lender approval (Decreased by 2 homes from August)

4 Homes sold in June (Increased by 3 homes sales from August)

The single family real estate market in Sewalls Point had a large drop of inventory for September.  Sales increased from last month but pending sales were off.  Some of this activity could have been impacted by Hurricane Irma which shut down real estate for a little over a week last month.

The absorption rate dropped to 10.8  months, in August was 54 months.  Still a buyers’ market for Sewalls Point single family homes but not nearly as extreme as the previous month.  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 September 2016, the inventory was 69 homes on the market, 10 pending sales and there were 7 closed sales.  Considerably better sales activity last year.

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