Sewalls Point Single Family Market Report May 2014

Sewalls Point Real Estate Snapshot, Residential Sales for April 2014

There are currently 58 active listings (Unchanged from April)

14 Residential sales are pending and awaiting close or lender approval (Up by 1 home from last month)

5 Homes sold in April (Unchanged from April)

The Sewalls Point single family homes market activity for May 2014 is basically unchanged from April with the exception of one additional pending sale.   Activity is slow, but steady.  Sewalls point is a desirable location for families and it will be interesting to see if we have increased activity prior to the next school year.

The absorption rate is currently 11.6 months unchanged from last month and with plenty of room for improvement.  It’s been a strong buyers market for Sewalls Point in the past 4 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 May of 2013, the inventory was 58 homes on the market, 17 pending sales and there were 7 closed sales.  Better activity, if only slightly, last year.

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