Sewalls Point Residential Market Report August 2013

Sewalls Point Real Estate Snapshot, Residential Sales for August 2013

There are currently 46 active listings (a decrease of 1 home for sale from July)

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

7 Homes sold in July (An increase of 4 homes from July)

A second slower month for the Sewalls Point residential real estate market.   For August 2013 sales were up from July, but both pending and active listings were off marginally.  This is most likely a reflection of the summer months with slower activity, which is typical for the Martin County FL real estate market.

The absorption rate declined to 6.6 months.  Just about a balanced market.  A 6 month absorption rate is considered a balanced market where neither the seller nor buyer have an advantage.

Comparing the results to August of 2012, the inventory was 57 homes on the market, 16 pending sales and there were 3 closed sales.  The lower number of pending sales this year is a sign that for the imediate future, there may not be as many closed sales as in previous years, though this year we did do much better than last year.

Please use the charts below as reference only as they rely on all residential types of property in the Sewalls Point real estate market:

Sewalls Point Residential Market Report July 2013

Sewalls Point Real Estate Snapshot, Residential Sales for July 2013

There are currently 47 active listings (a decrease of 5 homes for sale from June)

 7 Residential sales are pending and awaiting close or lender approval (Down 3 from last month)

3 Homes sold in June (A decrease of 5 homes from June)

The Sewalls Point residential real estate market for July 2013 eased off from the strong gains made in the first half of 2013.    The inventory is down again to only 47 homes available for sale and both future (pending) sales as well as closed sales showed decreases from last month.  Slower activity during the summer months is not an unexpected event, as we need to look at the trends for the entire year to get a true picture of the local real estate market.

The absorption rate jumped to 15.7 months.  A strong buyers market.  A 6 month absorption rate is considered a balanced market where neither the seller nor buyer have an advantage.

Comparing the results to July of 2012, the inventory was 56 homes on the market, 14 pending sales and there were 5 closed sales.  Unfortunately, this year’s numbers are weaker than July 2012 results.

Please use the charts below as reference only as they rely on all residential types of property in the Sewalls Point real estate market:

Sewalls Point Residential Market Report June 2013

Sewalls Point Real Estate Snapshot, Residential Sales for June 2013

There are currently 52 active listings (a decrease of 6 homes for sale from May)

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

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8 Homes sold in May (An increase of 1 home from May)

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 For June, in the Sewalls Point residential real estate market remained strong with 8 closed sales, including a $2.6 million waterfront sale.  Unfortunately, pending sales were off by 7 homes, possibly indicating a slower summer season ahead.  The inventory of available homes is now down to only 52 homes.

The absorption rate dropped to 6.5 months.  Basically, a balanced market.  A 6 month absorption rate is considered a balanced market where neither the seller nor buyer have an advantage.

Comparing the results to June of 2012, the inventory was 57 homes on the market, 14 pending sales and there were 5 closed sales.  Better activity this year, when the lower inventory is factored in.  The drop in pending sales is troubling.

Please use the charts below as reference only as they rely on all residential types of property in the Sewalls Point real estate market:

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Sewalls Point Residential Market Report May 2013

Sewalls Point Real Estate Snapshot, Residential Sales for May 2013

There are currently 58 active listings (a decrease of 3 homes for sale from April)

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17 Residential sales are pending and awaiting close or lender approval (No change from April)

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7 Homes sold in April (An increase of 3 homes from April)

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 For May, in the Sewalls Point residential real estate market picked up steam from the previous month, with an additional 3 sales, for a total of 7.  Pending sales were unchanged while the inventory of available homes decreased to 58.

The absorption rate dropped to 8.3 months.  Still a buyers market in Sewalls Point, but only slightly.  A 6 month absorption rate is considered a balanced market where neither the seller nor buyer have an advantage.

Comparing the results to May of 2012, the inventory was 66 homes homes on the market, 18 pending sales and there were 6 closed sales.  Similar numbers to last year, but when the lower inventory is factored in, the market is much stronger this year.

Sewalls Point Residential Market Report April 2013

Sewalls Point Real Estate Snapshot, Residential Sales for April 2013

There are currently 61 active listings (an increase of 4 homes for sale from March)

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17 Residential sales are pending and awaiting close or lender approval (an increase of 2 homes from March)

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4 Homes sold in March (A decrease of 1 home from March)

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 For April, in the Sewalls Point residential real estate market, there was very little change from the previous month.  Inventory improved slightly as did pending sales while closed sales were off by 1 home.

The absorption rate rose to 15 months.  Still a strong buyers market in Sewalls Point.  A 6 month absorption rate is considered a balanced market where neither the seller nor buyer have an advantage.

Comparing the results to April of 2012, the inventory was 63 homes homes on the market, 19 pending sales and there were 2 closed sales.  Slightly better activity this year, but basically very similar to last year’s activity.

Sewalls Point Residential Market Report March 2013

Sewalls Point Real Estate Snapshot, Residential Sales for March 2013

There are currently 57 active listings (an increase of 2 homes for sale from February)

15 Residential sales are pending and awaiting close or lender approval (a decrease of 2 homes from February)

5 Homes sold in February (An increase of 3 homes from February)

March saw improved sales in the Sewalls Point real estate market in Stuart, FL.  Still a fairly large inventory, but also good number of pending sales.

The absorption rate dropped to 11.4 months.  This is a still a buyers market in Sewalls Point, but is showing signs of change.  A 6 month absorption rate is considered a balanced market where neither the seller nor buyer have an advantage.

Comparing the results to March of 2012, the inventory was 61 homes homes on the market, 12 pending sales and there was only 3 closed sales.  Improving numbers for 2013 by a small margin.

Sewalls Point Residential Market Report February 2013

Sewalls Point Real Estate Snapshot, Residential Sales for February 2013

There are currently 55 active listings (an increase of 6 home for sale from January)

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17 Residential sales are pending and awaiting close or lender approval (an increase of 10 homes from January)

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2 Homes sold in January (Unchanged from January)

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February was the second month in a row of slow sales in the Sewalls Point real estate market in Stuart, FL.  But it appears that this may be the end of this trend as pending sales more than doubled to 17 homes and the inventory came back to approximately normal levels after some historically low numbers.

The absorption rate now stands at 27.5 months.  This is a strong buyers market again.  A 6 month absorption rate is considered a balanced market where neither the seller nor buyer have an advantage.

Comparing the results to February of 2012, the inventory was 66 homes homes on the market, 9 pending sales and there was only 3 closed sales.  Similar sales from last year, but much better pending sales, portending increased sales for the next few months.

Sewalls Point Residential Market Report January 2013

Sewalls Point Real Estate Snapshot, Residential Sales for January 2013

There are currently 49 active listings (an increase of 13 home for sale from December)

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7 Residential sales are pending and awaiting close or lender approval (a decrease of 1 home from December)

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2 Homes sold in December (Down 4 from December)

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Closed sales were off for the Sewalls Point market report for January 2013.  Pending sales were also off slightly.  This is the second month of decreasing market activity for Sewalls Point.  However, inventory rose sharply in January and this will result in much improved numbers for the coming months..  Now only 36 homes available.  This is approaching historic low levels for Sewalls Point.

The absorption rate now stands at 24.5 months, quite a jump from last December’s 6 month absorption rate.  This is a strong buyers market again.  A 6 month absorption rate is considered a balanced market where neither the seller nor buyer have an advantage.

Comparing the results to January of 2012, the inventory was at 59 homes homes on the market last year, 11 pending sales and there was only 3 closed sales.  Considering the inventory is 11 homes less this year, the January 2013 activity is fairly similar if not a small bit stronger than last year.

Sewalls Point Residential Market Report December 2012

Sewalls Point Real Estate Snapshot, Residential Sales for December 2012

There are currently 36 active listings (a decrease of 5 home for sale from November)

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8 Residential sales are pending and awaiting close or lender approval (a decrease of 2 homes from November)

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6 Homes sold in November (Down 2 from November)

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A bit of a slow down in activity for the Sewalls Point market report for December 2012.  Some of this is due to slower activity during the holiday season and also some due to the decrease in inventory.  Now only 36 homes available.  This is approaching historic low levels for Sewalls Point.

The absorption rate now stands at 6 months.  This is an indication of a balanced market.  Neither seller nor buyer have an advantage in a balanced market. 

Comparing the results to December of 2011, the inventory was at 58 homes homes on the market last year, pending sales numbered only 8  homes, and there was only 5 sales.  Considering the inventory is 22 homes less this year, the December 2012 activity was pretty stron compared to last year.

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 October 2012

Sewalls Point Real Estate Snapshot, Residential Sales for October 2012

There are currently 47 active listings (a decrease of 3 home for sale from September)

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17 Residential sales are pending and awaiting close or lender approval (a decrease of 3 homes from September)

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7 Homes sold in September (Up 4 from September)

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Strong activity for the Sewalls Point market report for October 2012.  A very good month for sales with 7 closings.  Pending sales were off slightly (by 3 homes) while the inventory is now down to 47 homes.  This is quite low for Sewalls Point.

The absorption rate now stands at 6.7 months.  This is an indication of a balanced market favoring neither seller or buyer.

Comparing the results to October of 2011, the inventory was at 43 homes homes on the market last year, pending sales numbered only 14 homes, and there was only 1 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