Sewalls Point Single Family Market Report January 2019
Sewalls Point Real Estate Snapshot, Residential Sales for January 2019
There are currently 76 active listings (Up by 7 home from last month)
17 home sales are pending and awaiting close or lender approval (Up by 8 homes from December)
5 Homes sold in December (Unchanged from December)
The single-family real estate market in Sewalls Point had a large increase in inventory and with pending sales. Hopefully, this will translate to more closed sales in the near future.
The absorption rate rose to 15.2 months, in December it was 13.4 months. Still a buyers market for Sewalls Point but trending in the right direction. 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 December 2018, the inventory was 50 homes on the market, 10 pending sales and there were 6 closed sales. Considerably greater inventory this year with fewer sales, but better-pending activity.
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Sewalls Point Single Family Market Report January 2019
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