Sewalls Point Single Family Market Report June 2014

Sewalls Point Real Estate Snapshot, Residential Sales for June 2014

There are currently 53 active listings (Down by 5 homes from May)

11 Residential sales are pending and awaiting close or lender approval (Down by 3 homes from last month)

5 Homes sold in June (Unchanged from May)

The Sewalls Point single family homes market activity for June 2014 had the same number of closed sales as in May.  Both the inventory and pending sales declined for June.  Whether this means decreased activity for the future or not remains to be seen, but it appears to be the case.

The absorption rate is currently 10.6 months better than last months 11.6 but still of room for improvement.  It’s been a strong buyers market for Sewalls Point in the past 5 months now, as activity for this community has slowed this year.  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 June of 2013, the inventory was 52 homes on the market, 10 pending sales and there were 8 closed sales.  Better closed activity in 2013.  Other parameters are mostly unchanged.

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