Sewalls Point Single Family Market Report October 2016

Sewalls Point Single Family Market Report October 2016

Sewalls Point Real Estate Snapshot, Residential Sales for October 2016

There are currently 79 active listings (Up by 10 homes since last month)

Sewalls Point Single Family Market Report October 2016

10 home sales are pending and awaiting close or lender approval (Unchanged from September)

Sewalls Point Single Family Market Report October 2016

6 Homes sold in October (Decreased by 1 home sales from September)

Sewalls Point Single Family Market Report October 2016

The single family real estate market in Sewalls Point took a step back for October 2016 after improving numbers throughout the summer.  Pending and closed sales remained fairly steady but the inventory of available homes jumped up unexpectedly.

The current absorption rate jumped to 13.2 months, in September it was 9.9 months.  Retreating from the improved numbers for last month.  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 October of 2015, the inventory was 62 homes on the market, 9 pending sales and there were 8 closed sales.  October 2015 showed greater closed activity, slightly less pending activity though this was with considerably less inventory.

Sewalls Point Single Family Market Report October 2016

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Sewalls Point Single Family Market Report October 2016

 

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