Sewalls Point Single Family Market Report August 2019

Sewalls Point Real Estate Snapshot, Residential Sales for August 2019

There are currently 42 active listings (No changes from last month)

6 home sales are pending and awaiting close or lender approval (Down by 9 homes from July)

10 Homes sold in July (Increased by 2 homes from July)

The single-family real estate market in Sewalls Point is continuing with stronger activity than in recent years.  Pending sales were quite weak this month and this may be a result of the hurricane scare that we had during the latter half of the month.

The absorption rate dropped to 4.2 months, in July it was 5.3 months.  Remaining in a seller’s market for the Sewalls Point single-family home market.  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 2018, the inventory was 52 homes on the market, 12 pending sales and there were 3 closed sales.  Considerably better sold numbers on a reduced number of available homes for sale this year.  Pending sales, however, are off for this year.