Sewalls Point Homes for Sale and Sold Report April 2014

Sewalls Point Real Estate Snapshot, Residential Sales for April 2014

There are currently 58 active listings (an decrease of 3 home for sale from March)

 13 Residential sales are pending and awaiting close or lender approval (Down by 4 homes from last month)

5 Homes sold in March (Up by 1 homes from March)

The Sewalls Point market activity for April 2014 continues to show some slow movement.   Closed sales were up by 1 home from last month, but unfortunately pending sales (a sign of future activity) were off.  The inventory also decreased fro April.

The absorption rate is currently 11.6 months compared to last months 15.3 months, a nice improvement, but still plenty of room for improvement.  It’s been a strong buyers market for Sewalls Point in the past 3 months now, as activity for this community has slowed this year.  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 2013, the inventory was 61 homes on the market, 17 pending sales and there were 4 closed sales.  Basically very similar to last spring’s activity.

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