Sewalls Point Single Family Market Report July 2015

Sewalls Point Real Estate Snapshot, Residential Sales for July 2015

There are currently 58 active listings (Decreased by 3 homes since last month)

12 home sales are pending and awaiting close or lender approval (Down by 3 homes from June)

5 Homes sold in July (Up by two sales from June)

The Sewalls Point single family homes market continues to face some challenging volume of sales, though there were some excellent closings on the higher end of the market for June.  Also, a nice decrease in inventory will bring back some activity for the near future to Sewalls Point.

The current absorption rate dropped to 11.6 months, in June it was 20.3 months. Still plenty of room for improvement.  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 of 2014, the inventory was 48 homes on the market, 13 pending sales and there were 5 closed sales.  Other than a larger inventory, last years sales activity is almost identical to this year.

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Sewalls Point Single Family Market Report June 2015

Sewalls Point Real Estate Snapshot, Residential Sales for June 2015

There are currently 61 active listings (Decreased by 8 homes since last month)

15 home sales are pending and awaiting close or lender approval (Up by 3 homes from May)

3 Homes sold in June (Unchanged from May)

The Sewalls Point single family homes market continues to face slow sales activity even as the surrounding areas are seeing some very strong growth.  There is some good news with the increased pending activity which will hopefully translate to more closed sales in the near future.

The current absorption rate decreased slightly to 20.3 months, in May it was 23 months. Lots of room for improvement.  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 of 2014, the inventory was 53 homes on the market, 11 pending sales and there were 5 closed sales.  We have better pending activity this year, though not as good with closed activity.

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Sewalls Point Single Family Market Report May 2015

Sewalls Point Real Estate Snapshot, Residential Sales for May 2015

There are currently 69 active listings (Decreased by 10 homes since last month)

12 home sales are pending and awaiting close or lender approval (Up by 1 homes from April)

3 Homes sold in May (Decreased by 3 homes from April)

The Sewalls Point single family homes market continues to face slow sales activity even as the surrounding areas are seeing some very strong growth.  The inventory declined for the month and there are some good pending numbers, but closed sales were off for May.

The current absorption rate increased to 23 months, in April it was 13.2 months. Lots of room for improvement.  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 May of 2014, the inventory was 58 homes on the market, 14 pending sales and there were 5 closed sales.  Better activity for Sewalls Point last year.

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Sewalls Point Single Family Market Report April 2015

Sewalls Point Real Estate Snapshot, Residential Sales for April 2015

There are currently 79 active listings (Increased by 7 homes since last month)

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

6 Homes sold in April (Increased by 3 homes from March)

The Sewalls Point single family homes market activity remains challenging for sellers.  Though buyers have some excellent choices and opportunities at the present time.  Closed sales doubled from last month, though the inventory is quite high and pending sales decreased.

The current absorption rate dropped to 13.2 months, in March it was 24 months. Much improved from last month, but still a buyer’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 April of 2014, the inventory was 58 homes on the market, 13 pending sales and there were 5 closed sales.  Other than 1 additional closed sale this year, last years activity was better when considering the lower inventory.

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Sewalls Point Single Family Market Report March 2015

Sewalls Point Real Estate Snapshot, Residential Sales for March 2015

There are currently 72 active listings (Increased by 4 homes since last month)

17 home sales are pending and awaiting close or lender approval (Up by 9 homes from February)

3 Homes sold in March (Unchanged from February)

The Sewalls Point single family homes market activity continues to have some difficulties, though there is some glimmer of better activity to come with a large increase in pending sales for this month.  Closed sales remained unchanged and the inventory was up by four homes.

The current absorption rate rose to 24 months, in February it was 22.7 months.  Sewalls Point single family home sales remain in an extreme buyers market for March.  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 of 2013, the inventory was 61 homes on the market, 17 pending sales and there were 4 closed sales.  Very similar sales activity as compared to last year, but with greater inventory this year.

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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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Sewalls Point Single Family Market Report September 2014

Sewalls Point Real Estate Snapshot, Residential Sales for September 2014

There are currently 45 active listings (Up by 4 homes from August)

 7 Residential sales are pending and awaiting close or lender approval (Down by 1 homes from last month)

No Homes sold in September (Decreased by 7 homes from August)

 After a fairly positive August for the Sewalls Point single family homes market activity, September 2014 is the first month in quite some time with no closed sales on record.  September is also the first month in five months with an increase in inventory.  Pending sales remain fairly weak as well as the Sewalls Point residential real estate market could definitely use some improvement.

With zero sales, no absorption rate can be calculated.  Though in August it was 5.6 months.  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 of 2013, the inventory was 49 homes on the market, 7 pending sales and there were 2 closed sales.  Very similar activity as compared to last year, with the exception of the zero sales activity.

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