Sewalls Point Single Family Market Report February 2015

Sewalls Point Real Estate Snapshot, Residential Sales for February 2015

There are currently 68 active listings (Increased by 10 homes since last month)

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

3 Homes sold in February (Unchanged from January)

The Sewalls Point single family homes market activity continues to have some difficulties. The inventory rose by 10 homes this month while pending sales were off and another month with only three sales.

The current absorption rate is 22.7 months, in January it was 19.3 months.  Sewalls Point single family home sales remain in an extreme buyers market for February.  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 of 2013, the inventory was 55 homes on the market, 17 pending sales and there were 2 closed sales.  Last year saw fewer sales in February, but much better pending activity.

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Sewalls Point Single Family Market Report January 2015

Sewalls Point Real Estate Snapshot, Residential Sales for January 2015

There are currently 58 active listings (No change since last month)

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

3 Homes sold in January (Decreased by 2 home from December)

The Sewalls Point single family homes market activity continues to have some difficulties. The inventory remains at a good level and pending sales were up a bit for January, but only three sales for last month.

The current absorption rate is 19.3 months, in December it was 11.6 months.  Sewalls Point single family home sales remain in a pretty extreme buyers market for January.  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 of 2013, the inventory was 54 homes on the market, 4 pending sales and there were 12 closed sales.  Considerably better activity for the start of 2014 as compared to this year.

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Sewalls Point Single Family Market Report December 2014

Sewalls Point Real Estate Snapshot, Residential Sales for December 2014

There are currently 58 active listings (Up by 1 home October)

8 Residential sales are pending and awaiting close or lender approval (No change from last month)

5 Homes sold in December (Decreased by 1 home from October)

The Sewalls Point single family homes market activity for December 2014 continues to struggle, though there were three luxury sales in December for the high end market.  While this is an improvement from the summer months, there’s still plenty of room for growth.  Closed sales were down by 1 home while the inventory rose bu 1 also.  Pending sales remained unchanged.

The current absorption rate is 11.6 months, in September it was 9.5 months.  Sewalls Point remains a buyers market for December.  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 of 2013, the inventory was 43 homes on the market, 8 pending sales and there were 5 closed sales.  Identical numbers for closed and pending sales from last year, but this was with a lower number of available homes.

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Sewalls Point Single Family Market Report November 2014

Sewalls Point Real Estate Snapshot, Residential Sales for November 2014

There are currently 57 active listings (Up by 12 homes October)

8 Residential sales are pending and awaiting close or lender approval (No change from last month)

6 Homes sold in November (Increased by 4 homes from October)

The Sewalls Point single family homes market activity for November 2014 finally had a nice little increase in closed sales after a pretty dismal summer.  While this is an improvement, it’s still no very good.  Inventory rose for the month while pending sales remained unchanged.

The current absorption rate is 9.5 months, in September it was 22.5 months.  Sewalls Point remains a buyers market for November.  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 2013, the inventory was 46 homes on the market, 7 pending sales and there were 1 closed sales.  Somewhat better results for 2014.  Though there is still plenty of room for improvement.

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Sewalls Point Single Family Market Report October 2014

Sewalls Point Real Estate Snapshot, Residential Sales for October 2014

There are currently 45 active listings (Unchanged from September)

8 Residential sales are pending and awaiting close or lender approval (Up by 1 home from last month)

2 Homes sold in October (Increased by 2 homes from September)

The Sewalls Point single family homes market activity for October 2014 had two closed sales after nothing last month.  While this is an improvement, it’s still no very good.  Inventory was steady and pending sales rose by 1 home.

The current absorption rate is 22.5 months, in August it was 5.6 months.  This is an extreme buyers market for October.  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 of 2013, the inventory was 47 homes on the market, 7 pending sales and there were 5 closed sales.  Better closed activity last year, though with similar pending activity, we may see some improvement in the coming months.

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