Sewalls Point Homes for Sale and Sold Report March 2014

Sewalls Point Real Estate Snapshot, Residential Sales for March 2014

There are currently 61 active listings (an increase of 1 home for sale from February)

 17 Residential sales are pending and awaiting close or lender approval (Up by 6 homes from last month)

4 Homes sold in February (Up by 3 homes from February)

After a very slow February, the Sewalls Point market activity for March 2014 is showing some good improvement.   While we had only 4 closed sales, it’s still much better than the single closed sale for February. Additionally, with 17 pending sales, it appears that closed sales should do much better in the coming months.  Active inventory rose by only 1 home.

The absorption rate is currently 15.3 months compared to last months 60 months, a nice improvement, but still plenty of room for improvement.  It’s been a strong buyers market for Sewalls Point in the past 2 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 March 2013, the inventory was 57 homes on the market, 15 pending sales and there were 5 closed sales.  Marginally better activity last year.

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