Sewalls Point Residential Market Report April 2013

Sewalls Point Real Estate Snapshot, Residential Sales for April 2013

There are currently 61 active listings (an increase of 4 homes for sale from March)

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17 Residential sales are pending and awaiting close or lender approval (an increase of 2 homes from March)

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4 Homes sold in March (A decrease of 1 home from March)

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 For April, in the Sewalls Point residential real estate market, there was very little change from the previous month.  Inventory improved slightly as did pending sales while closed sales were off by 1 home.

The absorption rate rose to 15 months.  Still a strong buyers market in Sewalls Point.  A 6 month absorption rate is considered a balanced market where neither the seller nor buyer have an advantage.

Comparing the results to April of 2012, the inventory was 63 homes homes on the market, 19 pending sales and there were 2 closed sales.  Slightly better activity this year, but basically very similar to last year’s activity.