Sewalls Point Single Family Market Report August 2016

Sewalls Point Single Family Market Report August 2016

Sewalls Point Real Estate Snapshot, Residential Sales for August 2016

There are currently 66 active listings (Down by 3 homes since last month)

Sewalls Point Single Family Market Report August 2016

14 home sales are pending and awaiting close or lender approval (Increased by 3 homes from July)

Sewalls Point Single Family Market Report August 2016

6 Homes sold in August (Increased by 4 home sales from July)

Sewalls Point Single Family Market Report August 2016

The single family real estate market in Sewalls Point for August rebounded from last month’s slow closed sales activity.  Pending sales also rose a little while the inventory of available homes for sale is up from last year but down slightly from last month.

The current absorption rate dropped to 11 months, in July it was 34.5 months.  Still a sellers market, but a large improvement from July’s numbers.  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 August of 2014, the inventory was 59 homes on the market, 16 pending sales and there were 3 closed sales.  Better closed sales for this year, but we also have a greater number of available homes for sale.

Sewalls Point Single Family Market Report August 2016

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Sewalls Point Single Family Market Report August 2016

 

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