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Plantation at Sewalls Point September 2017 Market Report

Plantation at Sewalls Point September 2017 Market Report

For September 2017 there are 3 homes available for sale in the Plantation at Sewalls Point.  List prices range from $1,600,000 up to $3,795,000 for an average list price of $2,363,333 which equals $362.31 per sq. ft. of living area.

There are no homes under contract at present in the Plantation at Sewalls Point.

In the past 12 months, there have been 2 sales in the Plantation at Sewalls Point.  Sales prices were $1,100,000 and $1,615,000 for an average sales price of $1,357,500 which works out to $551.59 per sq. ft. of living area.  These homes averaged 144 days on market before going under contract and sold for an average of 97% of the final list price.

About Plantation at Sewalls Point:

Aerial of the Plantation at Sewalls PointThe Plantation at Sewalls Point is an exclusive private community of only 21 home sites.  There are 10 large estate sized waterfront lots with deep water docks and views of the Saint Lucie River some with magnificent waterfront views of the Saint Lucie River.  11 smaller non-waterfront home-sites on 1/2 to 1 acre sites.  All homes were custom built by individual contractors/builders from 1994 to the early 2000’s.  Plantation Home 4

Some of Martin County’s most elegant homes can be found in the Plantation at Sewalls Point. Conveniently located close to Indian Riverside Park, the United States Olympic Sailing Center, Deep Water marinas, restaurants, shopping and all of this within an ‘A’ rated school system.Plantation Home 2

The HOA fees depend on the size of the property and range from around $900 a quarter to $1,400.  The Plantation at Sewalls Point is one of the most prestigious communities in Martin County and the Treasure Coast of FL.

Plantation Home 1

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Plantation at Sewalls Point September 2017 Market Report

 

Sewalls Point Single Family Market Report August 2017

Sewalls Point Single Family Market Report August 2017

Sewalls Point Real Estate Snapshot, Residential Sales for August 2017

 

There are currently 54 active listings (Up by 11 homes from last month)

Sewalls Point Single Family Market Report August 2017

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

Sewalls Point Single Family Market Report August 2017

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

Sewalls Point Single Family Market Report August 2017

The single family real estate market in Sewalls Point had very weak closed sales for August and the pending (future0 sales activity is also not very impressive.  The inventory is down from last year as well.

The absorption rate balooned to 54  months, in June it was 3.6 months.  An extreme buyers’ market for Sewalls Point single family homes after two earlier good months for sellers.  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 2016, the inventory was 66 homes on the market, 14 pending sales and there were 6 closed sales.  Considerably better sales activity this year and with reduced inventory.

Sewalls Point Single Family Market Report August 2017

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Sewalls Point Single Family Market Report August 2017

 

Sewalls Point Single Family Market Report July 2017

Sewalls Point Single Family Market Report July 2017

Sewalls Point Real Estate Snapshot, Residential Sales for July 2017

 

There are currently 43 active listings (Down by 14 homes from last month)

Sewalls Point Single Family Market Report July 2017

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

Sewalls Point Single Family Market Report July 2017

8 Homes sold in June (Decreased by 8 homes sales from June)

Sewalls Point Single Family Market Report July 2017

The single family real estate market in Sewalls Point continues with strong activity for July.  Sales were off from last month but remain quite good with a much smaller inventory of available homes.

The absorption rate plunged to 5.4 months, in June it was 3.6 months.  Holding on to a sellers’ market for Sewalls Point single family homes for the second month in a row.  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 2016, the inventory was 69 homes on the market, 11 pending sales and there were 2 closed sales.  Considerably better sales activity this year and with reduced inventory.

Sewalls Point Single Family Market Report July 2017

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Sewalls Point Single Family Market Report July 2017

 

Rio Vista in Sewalls Point July 2017 Market Report

Rio Vista in Sewalls Point July 2017 Market Report

As of July 2017, there are 5 Rio Vista homes for sale in Sewalls Point.  List prices range from $419,000 up to $799,000 for an average list price of $580,600 which works out to $238.95 per sq. ft. of living area.

There are 3 homes under contract awaiting the completion of their sales.  List prices ranged from $429,000 to $1,295,000 for an average list price of  $927,667 or $293.82 per sq. ft of living area.  These homes averaged 89 days on the market before going under contract.

In the past 12 months, 5 homes have sold in Rio Vista with sales prices ranging from $360,000 up to $675,000 for an average sales price of $577,000 which equals $268.03 per square foot of living area.  The average days on market was only 13 days with a 97% list to sales price ratio.

About Rio Vista in Sewalls Point:

Rio Vista in Sewalls Point

The Rio Vista subdivision of South Sewalls Point spans the mid portion of the South Sewalls Point peninsula from the Indian to the Saint Lucie River.  Starting out at a low elevation on the east up to the higher bluffs of the Saint Lucie River with waterfront homes on both sides and non-waterfront homes in between.  Rio Vista includes those 106 homes and lots that are located on Rio Vista Dr, Lantana Lane, S. Sewalls Point Rd and S River Rd.

Rio Vista in Sewalls Point Rio Vista in Sewalls Point

Homes in Rio Vista were built from 1975 to some newer construction with one just being finished in 2015.  Home sizes range from a low of around 1,500 sq. ft. with either 2 or 3 bedrooms and 2 baths all the way to a 15,000 sq. ft. mansion with 8 bedrooms and 15 bathrooms.

Rio Vista in Sewalls Point Rio Vista in Sewalls Point

The Rio Vista subdivision is part of the town of Sewalls Point and there are no specific amenities or fees that are unique to this portion of Sewalls Point.  The Rio Vista portion of Sewalls Point is a very desirable area in Martin County and remains in great demand for its location, amenities and life style possibilities.

There are no HOA fees in the Rio Vista neighborhood of Sewalls Point as it is within the town city limits.

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Rio Vista in Sewalls Point July 2017 Market Report

Sewalls Point Single Family Market Report June 2017

Sewalls Point Single Family Market Report June 2017

Sewalls Point Real Estate Snapshot, Residential Sales for June 2017

 

There are currently 57 active listings (Down by 3 homes from last month)

Sewalls Point Single Family Market Report June 2017

14 home sales are pending and awaiting close or lender approval (Decreased by 8 homes from May)

Sewalls Point Single Family Market Report June 2017

16 Homes sold in May (Increased by 7 homes sales from May)

Sewalls Point Single Family Market Report June 2017

The single family real estate market in Sewalls Point contined to show very positive results for June.  Sales were the best in a number of years and while the pending numbers were down for the month, they still are quite good.

The absorption rate plunged to 3.6 months, in May it was 6.7 months.  For the first time in years, a strong sellers 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 June 2016, the inventory was 76 homes on the market, 5 pending sales and there were 10 closed sales.  Considerably better activity this year and with reduced inventory.

Sewalls Point Single Family Market Report June 2017

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Sewalls Point Single Family Market Report June 2017

 

Sewalls Point Single Family Market Report May 2017

Sewalls Point Single Family Market Report May 2017

Sewalls Point Real Estate Snapshot, Residential Sales for May 2017

There are currently 60 active listings (Down by 5 homes from last month)

Sewalls Point Single Family Market Report May 2017

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

Sewalls Point Single Family Market Report May 2017

9 Homes sold in April (Increased by 2 homes sales from April)

Sewalls Point Single Family Market Report May 2017

The single family real estate market in Sewalls Point showed some very positive results for May.  The strong pending numbers should also result in good sales numbers for the coming months.

The absorption rate dropped to 6.7 months, in April it was 9.3 months.  Into a balanced market after many, many months of 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 May 2016, the inventory was 70 homes on the market, 11 pending sales and there were 9 closed sales.  Identical number of closed sales as last year, but a significant increase in pending sales and on a reduced inventory.

Sewalls Point Single Family Market Report May 2017

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Sewalls Point Single Family Market Report May 2017

 

Sewalls Point Single Family Market Report April 2017

Sewalls Point Single Family Market Report April 2017

Sewalls Point Real Estate Snapshot, Residential Sales for April 2017

 

There are currently 65 active listings (Down by 1 home from last month)

Sewalls Point Single Family Market Report April 2017

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

Sewalls Point Single Family Market Report April 2017

7 Homes sold in March (Decreased by 2 homes sales from March)

Sewalls Point Single Family Market Report April 2017

The single family real estate market in Sewalls Point retreated slightly after a strong March.  Still, better activity than last year, but it could be stronger.

The absorption rate rose to 9.3 months, in March it was 7.3 months.  Still a strong buyers’ 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 2016, the inventory was 68 homes on the market, 19 pending sales and there were 3 closed sales.  Similar inventory and pending sales as compared to last year with better closed sales for this April.

Sewalls Point Single Family Market Report April 2017

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Sewalls Point Single Family Market Report April 2017

 

Sewalls Point Single Family Market Report March 2017

Sewalls Point Single Family Market Report March 2017

Sewalls Point Real Estate Snapshot, Residential Sales for March 2017

 

There are currently 66 active listings (Down by 1 home from last month)

Sewalls Point Single Family Market Report March 2017

21 home sales are pending and awaiting close or lender approval (Increased by 6 homes from February)

Sewalls Point Single Family Market Report March 2017

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

Sewalls Point Single Family Market Report March 2017

The single family real estate market in Sewalls Point showed one of the best months in quite some time with increases in closed sales as well as homes under contract.

The absorption stayed at 7.3 months, in February it was 16.8 months.  Still a buyers’ market but getting close to a balanced one.  One of the better months in some time for Sewalls Point real estate.  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 70 homes on the market, 14 pending sales and there were 6 closed sales.  Considerably better activity this year.

Sewalls Point Single Family Market Report March 2017

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Sewalls Point Single Family Market Report March 2017

 

Sewalls Point Single Family Market Report February 2017

Sewalls Point Single Family Market Report February 2017

Sewalls Point Real Estate Snapshot, Residential Sales for February 2017

 

There are currently 67 active listings (Unchanged from last month)

Sewalls Point Single Family Market Report February 2017

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

Sewalls Point Single Family Market Report February 2017

5 Homes sold in January (Increased by 1 homes sales from January)

Sewalls Point Single Family Market Report February 2017

The single family real estate market in Sewalls Point continues to show somewhat weaker activity though I’m seeing quite a bit of curent activity and the March report may show improvements.

The absorption stayed at 16.8 months, in January it was also 16.8 months.  A strong buyers’ market once again.  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 56 homes on the market, 12 pending sales and there were 6 closed sales.  Better volume of sales and pendings last winter with a smaller inventory.

Sewalls Point Single Family Market Report February 2017

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Sewalls Point Single Family Market Report February 2017

 

Sewalls Point Single Family Market Report January 2017

Sewalls Point Single Family Market Report January 2017

Sewalls Point Real Estate Snapshot, Residential Sales for January 2017

There are currently 67 active listings (Up by 5 homes since last month)

Sewalls Point Single Family Market Report January 2017

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

Sewalls Point Single Family Market Report January 2017

4 Homes sold in December (Decreased by 7 homes sales from December)

Sewalls Point Single Family Market Report January 2017

The single family real estate market in Sewalls Point retreated dramatically after a strong December.  Inventory rose while closed sales were way off.

The current absorption rate shot up to 16.8 months, in December it was 5.6 months.  Quite the see-saw ride for the Sewalls Point real estate market going back into a buyers’ 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 January 2016, the inventory was 57 homes on the market, 15 pending sales and there were 4 closed sales.  Identical number of closed sales while less pending and greater inventory for this year when compared with last January.

Sewalls Point Single Family Market Report January 2017

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Sewalls Point Single Family Market Report January 2017

 

Sewalls Point Single Family Market Report December 2016

Sewalls Point Single Family Market Report December 2016

Sewalls Point Real Estate Snapshot, Residential Sales for December 2016

 

There are currently 62 active listings (Down by 12 homes since last month)

Sewalls Point Single Family Market Report December 2016

10 home sales are pending and awaiting close or lender approval (Decreased by 1 home from November)

Sewalls Point Single Family Market Report December 2016

11 Homes sold in December (Increased by 9 homes sales from November)

Sewalls Point Single Family Market Report December 2016

The single family real estate market in Sewalls Point showed a surprising surge of activity for December 2016 after two pretty week months in the fall.  Pending sales remained steady and there was a strong increase in closed sales.  The inventory of available homes also declined.

The current absorption rate plunged to 5.6 months, in November it was 37 months.  Into a slight sellers market for Sewalls Point.  It’s been quite a while for Sewalls Point to enjoy such robust activity.  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 2015, the inventory was 51 homes on the market, 13 pending sales and there were 3 closed sales.  Showing much better activity this year as opposed to 2015.

Sewalls Point Single Family Market Report December 2016

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Sewalls Point Single Family Market Report December 2016

 

High Point Sewalls Point January 2017 Market Report

High Point Sewalls Point January 2017 Market Report

As of January 2016, there are 4 homes available for sale on High Point and High Point Isle in Sewalls Point, FL.   Listing prices range from $1,170,000 to $3,995,000.  The average listing price is $2,128,750 which equals $466.11 per square foot of living area.

There are 2 High Point homes under contract and awaiting close.  The list prices were $599,900 and $1,400,000 for an average list price of $999,950 which works out to be $284.97 per sq. ft. of living area.  These two homes averaged 273 days on the market before going under contract.

In the past 12 months, 8 High Point homes have sold.  Sales prices ranged from $365,000 to $2,975,000 for an average sales price of $1,402,188 which equals $333.41 per sq. ft. of living area and for an average sale price of 92% of the last listed price.  These homes were on the market for an average of 90 days prior to accepting an offer.

High Point in Sewalls Point, Florida


Located on the southern tip of Sewalls Point, High Point and High Point Isles is an oasis of beautiful homes on high elevation lots yet just minutes away from the clear blue waters of the Atlantic ocean.

High Point in Sewalls Point, Florida
High Point Isles is the eastern section of the High Point peninsula and consists of all waterfront homes in the intracoastal waterway and within sight of the Saint Lucie Inlet for access to the Atlantic.  Ringing the south and west circumference of High Point are additional waterfront estates with deep water, high elevation and spectacular views of the Saint Lucie and Indian Rivers.

High Point in Sewalls Point, Florida

The first home in High Point was built in 1963 and homes continue to be built as well as extensively renovated to this day.  There are both deep water estate sized lots (of over 2.5 acres) to interior lots of 1/3 of an acre.

High Point in Sewalls Point, FloridaHome sizes range from 2 bedroom, 2 bathroom cottages of 1,700 sq. ft. to estates of close to 14,000 sq. ft. of living area with 7 bedrooms and 9 bathrooms.

High Point in Sewalls Point, FloridaThere are no HOA fees in High Point and High Point Isles as this community is part of the town of Sewalls Point.  A wonderful community close to the beaches, waterways and many excellent amenities offered in Martin County, FL.

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High Point Sewalls Point January 2017 Market Report

Sewalls Point Single Family Market Report November 2016

Sewalls Point Single Family Market Report November 2016

Sewalls Point Real Estate Snapshot, Residential Sales for November 2016

There are currently 74 active listings (Down by 5 homes since last month)

Sewalls Point Single Family Market Report November 2016

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

Sewalls Point Single Family Market Report November 2016

2 Homes sold in November (Decreased by 4 homes sales from October)

Sewalls Point Single Family Market Report November 2016

The single family real estate market in Sewalls Point took a second step backward for November 2016 after improving numbers throughout the summer.  Pending sales remained steady but a considerable drop in closed sales.  At least the inventory declined slightly.

The current absorption rate skyrocketed to 37 months, in October it was 13.2 months.  Hopefully we’ll see this number go down as we enter the winter season in the next few 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 November of 2015, the inventory was 51 homes on the market, 13 pending sales and there were 3 closed sales.  November 2015 was a much better month for Sewalls Point real estate than this year.

Sewalls Point Single Family Market Report November 2016

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Sewalls Point Single Family Market Report November 2016

 

Sewalls Point Single Family Market Report October 2016

Sewalls Point Single Family Market Report October 2016

Sewalls Point Real Estate Snapshot, Residential Sales for October 2016

There are currently 79 active listings (Up by 10 homes since last month)

Sewalls Point Single Family Market Report October 2016

10 home sales are pending and awaiting close or lender approval (Unchanged from September)

Sewalls Point Single Family Market Report October 2016

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

Sewalls Point Single Family Market Report October 2016

The single family real estate market in Sewalls Point took a step back for October 2016 after improving numbers throughout the summer.  Pending and closed sales remained fairly steady but the inventory of available homes jumped up unexpectedly.

The current absorption rate jumped to 13.2 months, in September it was 9.9 months.  Retreating from the improved numbers for last 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 October of 2015, the inventory was 62 homes on the market, 9 pending sales and there were 8 closed sales.  October 2015 showed greater closed activity, slightly less pending activity though this was with considerably less inventory.

Sewalls Point Single Family Market Report October 2016

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Sewalls Point Single Family Market Report October 2016

 

Sewalls Point Single Family Market Report September 2016

Sewalls Point Single Family Market Report September 2016

Sewalls Point Real Estate Snapshot, Residential Sales for September 2016

There are currently 69 active listings (Up by 3 homes since last month)

Sewalls Point Single Family Market Report September 2016

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

Sewalls Point Single Family Market Report September 2016

7 Homes sold in September (Increased by 1 home sales from August)

Sewalls Point Single Family Market Report September 2016

The single family real estate market in Sewalls Point for September continues to improve from previous months as well as last year.  Though, we also are seeing a market increase in inventory as prices continue to rise for the desirable Sewalls Point community.

The current absorption rate dropped to 9.9 months, in August it was 11 months.  Still a sellers market, but a large improvement from earlier summer numbers.  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 2015, the inventory was 54 homes on the market, 15 pending sales and there were 5 closed sales.  Better closed sales for this year, but we also have a greater number of available homes for sale.

Sewalls Point Single Family Market Report September 2016

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Sewalls Point Single Family Market Report September 2016

 

Plantation at Sewalls Point September 2016 Market Report

Plantation at Sewalls Point September 2016 Market Report

For September 2016 there are 3 homes available for sale in the Plantation at Sewalls Point.  List prices range from $1,350,000 to $3,795,000 for an average list price of $1,525,000 which equals $445.33 per sq. ft. of living area.

There are no homes under contract at present in the Plantation at Sewalls Point.

In the past 12 months, there have been 3 sales in the Plantation at Sewalls Point.  Sales prices ranged from $975,000 to $5,450,000 for an average sales price of $2,618,333 which works out to $335.23 per sq. ft. of living area.  These homes averaged 245 days on market before going under contract and sold for an average of 89% of the final list price.

The Plantation at Sewalls Point is an exclusive private community of only 21 home sites.  There are 10 large estate sized waterfront lots with deep water docks and views of the Saint Lucie River some with magnificent waterfront views of the Saint Lucie River.  11 smaller non-waterfront home-sites on 1/2 to 1 acre sites.  All homes were custom built by individual contractors/builders from 1994 to the early 2000’s.

Some of Martin County’s most elegant homes can be found in the Plantation at Sewalls Point. Conveniently located close to Indian Riverside Park, the United States Olympic Sailing Center, Deep Water marinas, restaurants, shopping and all of this within an ‘A’ rated school system.

The HOA fees depend on the size of the property and range from around $900 a quarter to $1,400.  The Plantation at Sewalls Point is one of the most prestigious communities in Martin County and the Treasure Coast of FL.

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Plantation at Sewalls Point September 2016 Market Report

Sewalls Point Single Family Market Report August 2016

Sewalls Point Single Family Market Report August 2016

Sewalls Point Real Estate Snapshot, Residential Sales for August 2016

There are currently 66 active listings (Down by 3 homes since last month)

Sewalls Point Single Family Market Report August 2016

14 home sales are pending and awaiting close or lender approval (Increased by 3 homes from July)

Sewalls Point Single Family Market Report August 2016

6 Homes sold in August (Increased by 4 home sales from July)

Sewalls Point Single Family Market Report August 2016

The single family real estate market in Sewalls Point for August rebounded from last month’s slow closed sales activity.  Pending sales also rose a little while the inventory of available homes for sale is up from last year but down slightly from last month.

The current absorption rate dropped to 11 months, in July it was 34.5 months.  Still a sellers market, but a large improvement from July’s numbers.  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 of 2014, the inventory was 59 homes on the market, 16 pending sales and there were 3 closed sales.  Better closed sales for this year, but we also have a greater number of available homes for sale.

Sewalls Point Single Family Market Report August 2016

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Sewalls Point Single Family Market Report August 2016

 

Sewalls Point Single Family Market Report July 2016

Sewalls Point Single Family Market Report July 2016

Sewalls Point Real Estate Snapshot, Residential Sales for July 2016

There are currently 69 active listings (Down by 7 homes since last month)

Sewalls Point Single Family Market Report July 2016

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

Sewalls Point Single Family Market Report July 2016

2 Homes sold in July (Decreased by 17 home sales from June)

Sewalls Point Single Family Market Report July 2016

The single family real estate market in Sewalls Point for July showed a big decrease in closed sales for July.  Pending sales look good, however, and I expect these sales figures to improve in the coming months.  The inventory of available homes is up from last year but down from last month.

The current absorption rate exploded to 34.5 months, in June it was 7.6 months. An unfortunate slowdown for Sewall’s point, but possibly an opportunity for buyers.  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 58 homes on the market, 12 pending sales and there were 5 closed sales. Better numbers last year, even though we have a greater inventory now.

Sewalls Point Single Family Market Report July 2016

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Sewalls Point Single Family Market Report July 2016

 

Sewalls Point Single Family Market Report June 2016

Sewalls Point Single Family Market Report June 2016

Sewalls Point Real Estate Snapshot, Residential Sales for June 2016

 

There are currently 76 active listings (Up by 6 homes since last month)

Sewalls Point Single Family Market Report June 2016

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

Sewalls Point Single Family Market Report June 2016

19 Homes sold in June (Increased by 1 home sales from May)

Sewalls Point Single Family Market Report June 2016

The single family real estate market in Sewalls Point for June continued with good closed activity.  Unfortunately pending sales are down which could indicate slower closed activity for the coming months.

The current absorption rate dipped to 7.6 months, in May it was 7.8 months. Continuing in a positive direction for Sewall’s Point FL..  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 61 homes on the market, 15 pending sales and there were 3 closed sales. The inventory is considerably higher this year and pending sales are off from last year, while closed sales were higher.

Sewalls Point Single Family Market Report June 2016

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Sewalls Point Single Family Market Report June 2016

 

Sewalls Point Single Family Market Report May 2016

Sewalls Point Single Family Market Report May 2016

Sewalls Point Real Estate Snapshot, Residential Sales for May 2016

 

There are currently 70 active listings (Up by 2 homes since last month)

Sewalls Point Single Family Market Report May 2016

11 home sales are pending and awaiting close or lender approval (Decreased by 8 homes from April)

Sewalls Point Single Family Market Report May 2016

9 Homes sold in May (Increased by 6 home sales from April)

Sewalls Point Single Family Market Report May 2016

The single family real estate market in Sewalls Point for May had a good month for closed sales and has come close to a balanced market.  Unfortunately, a drop in pending sales may signal a potentially weaker upcoming summer.

The current absorption rate dipped to 7.8 months, in April it was 22.7 months. A very good step in the right direction and heading towards a balanced 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 May of 2014, the inventory was 69 homes on the market, 12 pending sales and there were 3 closed sales.  Considerably greater sold homes for this year when compared to 2015.  Mostly good news for Sewalls Point for a change.

Sewalls Point Single Family Market Report May 2016

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Sewalls Point Single Family Market Report May 2016