Sewalls Point Single Family Market Report September 2016

Sewalls Point Single Family Market Report September 2016

Sewalls Point Real Estate Snapshot, Residential Sales for September 2016

There are currently 69 active listings (Up by 3 homes since last month)

Sewalls Point Single Family Market Report September 2016

10 home sales are pending and awaiting close or lender approval (Decreased by 4 homes from August)

Sewalls Point Single Family Market Report September 2016

7 Homes sold in September (Increased by 1 home sales from August)

Sewalls Point Single Family Market Report September 2016

The single family real estate market in Sewalls Point for September continues to improve from previous months as well as last year.  Though, we also are seeing a market increase in inventory as prices continue to rise for the desirable Sewalls Point community.

The current absorption rate dropped to 9.9 months, in August it was 11 months.  Still a sellers market, but a large improvement from earlier summer numbers.  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 September of 2015, the inventory was 54 homes on the market, 15 pending sales and there were 5 closed sales.  Better closed sales for this year, but we also have a greater number of available homes for sale.

Sewalls Point Single Family Market Report September 2016

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Sewalls Point Single Family Market Report September 2016

 

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