Sewalls Point Single Family Market Report February 2019
Sewalls Point Real Estate Snapshot, Residential Sales for February 2019
There are currently 80 active listings (Up by 4 homes from last month)
10 home sales are pending and awaiting close or lender approval (Down by 7 homes from January)
5 Homes sold in January (Unchanged from January)
The single-family real estate market in Sewalls Point is carrying a large inventory of homes with not a lot of activity. This may be a very good time for buyers looking in the Sewalls Point single family home market.
The absorption rate rose to 16.0 months, in January it was 15.2 months. Remaining in a strong buyers market for Sewalls Point. 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 February 2018, the inventory was 50 homes on the market, 11 pending sales and there were 3 closed sales. Considerably greater inventory this year with slightly better sales numbers.
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