Sewalls Point Single Family Market Report June 2019

Sewalls Point Real Estate Snapshot, Residential Sales for June 2019

There are currently 58 active listings (Up by 5 homes from last month)

12 home sales are pending and awaiting close or lender approval (Up by 2 homes from May)

7 Homes sold in May (Decreased by 6 homes from May)

The single-family real estate market in Sewalls Point had a nice increase in inventory as well as an increase in pending sales.  Closed sales, unfortunately, were off for this month.

The absorption rate jumped up to 8.3 months, in May it was 4.1 months.  Transitioning back into a buyer’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 June 2018, the inventory was 46 homes on the market, 10 pending sales and there were 6 closed sales.  Slightly greater activity this year when compared to last year but there are more homes available for sale this year.