Sewalls Point Homes for Sale and Sold Report January 2014

Sewalls Point Real Estate Snapshot, Residential Sales for January 2014

There are currently 54 active listings (an increase of 11 homes for sale from December)

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

12 Homes sold in December (Up by 4 homes from December)

Mostly a strong start for the Sewalls Point market activity to begin 2014.   Up to 9 closed sales for January, which is a nice increase.   There was also a nice jump in available homes for sale this month.  The only negative was a decrease in pending sales, which will most likely result in a smaller number of closed sales in February.

The absorption rate decreased to 6 months compared to last months 8.6 months.  Now a balanced market in 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 January 2013, the inventory was 49 homes on the market, 7 pending sales and there were 2 closed sales.  As in many of our other area, we are beginning to see increased inventory.  Also, better closed sales as there is more homes to choose from.

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