Sewalls Point Residential Market Report August 2013

Sewalls Point Real Estate Snapshot, Residential Sales for August 2013

There are currently 46 active listings (a decrease of 1 home for sale from July)

 6 Residential sales are pending and awaiting close or lender approval (Down 1 from last month)

7 Homes sold in July (An increase of 4 homes from July)

A second slower month for the Sewalls Point residential real estate market.   For August 2013 sales were up from July, but both pending and active listings were off marginally.  This is most likely a reflection of the summer months with slower activity, which is typical for the Martin County FL real estate market.

The absorption rate declined to 6.6 months.  Just about a balanced market.  A 6 month absorption rate is considered a balanced market where neither the seller nor buyer have an advantage.

Comparing the results to August of 2012, the inventory was 57 homes on the market, 16 pending sales and there were 3 closed sales.  The lower number of pending sales this year is a sign that for the imediate future, there may not be as many closed sales as in previous years, though this year we did do much better than last year.

Please use the charts below as reference only as they rely on all residential types of property in the Sewalls Point real estate market: