Sewalls Point Residential Market Report November 2012

Sewalls Point Real Estate Snapshot, Residential Sales for November 2012

There are currently 41 active listings (a decrease of 6 home for sale from October)

[singlepic id=3090 w=600 h=600 float=center]

[singlepic id=3091 w=600 h=600 float=center]

10 Residential sales are pending and awaiting close or lender approval (a decrease of 7 homes from October)

[singlepic id=3092 w=600 h=600 float=center]

8 Homes sold in October (Up 1 from October)

[singlepic id=3093 w=600 h=600 float=center]

[singlepic id=3094 w=600 h=600 float=center]

[singlepic id=3095 w=600 h=600 float=center]

[singlepic id=3096 w=600 h=600 float=center]

Continued strong activity for the Sewalls Point market report for November 2012.  A very good month for sales with 8 closings.  Pending sales were off  (by 7 homes) while the inventory is now down to 41 homes.  This is getting to be pretty slim for Sewalls Point.

The absorption rate now stands at 5.1 months.  This is an indication of a transition into a slight sellers market.  Where a seller has an advantage over the buyer because of the low supply and high demand.  A balanced market is considered to be when the absorption rate is 6 months.

Comparing the results to November of 2011, the inventory was at 49 homes homes on the market last year, pending sales numbered only 13 homes, and there was only 3 sale.