Sewalls Point Market Report – Residential, November 2011

Sewalls Point Market Report – Residential, November 2011

Sewalls Point Real Estate Snapshot, Residential Sales for November 2011

There are currently 49 active listings (an increase of 6 homes for sale from October)

13 Residential sales are pending and awaiting close or lender approval (Down 1 from October)

3 Homes sold in November (Up 2 from October)

In November of 2011, e saw a slight increase in sales from October in the Sewalls Point, Florida real estate market.  Of note is that two of these sales were in the higher price ranges of just under $900,000 for a nonwaterfront home and above $1,200,000 for an older waterfront home.  Inventory crept up a little from last month while pending sales remain virtually unchanged (down 1).

Interestingly the active and pending numbers are almost identical to last November, but sales are up as has been the trend for most of this year.  If sales continue at the pace of last year, we may very well find a significant decrease in inventory as well as a lack of well-priced homes on Sewalls Point.  In our experience with this market, it will be difficult to convince buyers to pay a large premium for the privilege of living in this desirable neighborhood, so we may see some slowdown if the inventory doesn’t keep pace.