Sewalls Point Single Family Market Report April 2016

Sewalls Point Single Family Market Report April 2016

Sewalls Point Real Estate Snapshot, Residential Sales for April 2016

There are currently 68 active listings (Down by 2 homes since last month)

Sewalls Point Single Family Market Report April 2016

19 home sales are pending and awaiting close or lender approval (Increased by 5 homes from March)

Sewalls Point Single Family Market Report April 2016

3 Homes sold in April (Decreased by 3 home sales from March)

Sewalls Point Single Family Market Report April 2016

The single family real estate market in Sewalls Point showed a nice increase in pending sales for April, but unfortunately closed sales were once again less than expected.  There does seem to be very good showing activity, so I’m expecting sales to pick up as we head into the summer season.

The current absorption rate exploded to 22.7 months, in March it was 11.7 months. A very strong buyers market for Sewalls Point, and those who have dreamed of moving to Sewalls Point should consider taking advantage of this market while they can.  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 April of 2014, the inventory was 79 homes on the market, 11 pending sales and there were 6 closed sales.  The pending inventory is looking much better for this year.

Sewalls Point Single Family Market Report April 2016

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Sewalls Point Single Family Market Report April 2016

 

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