Sewalls Point Single Family Market Report December 2016

Sewalls Point Real Estate Snapshot, Residential Sales for December 2016

There are currently 62 active listings (Down by 12 homes since last month)

10 home sales are pending and awaiting close or lender approval (Decreased by 1 home from November)

11 Homes sold in December (Increased by 9 homes sales from November)

The single family real estate market in Sewalls Point showed a surprising surge of activity for December 2016 after two pretty week months in the fall.  Pending sales remained steady and there was a strong increase in closed sales.  The inventory of available homes also declined.

The current absorption rate plunged to 5.6 months, in November it was 37 months.  Into a slight sellers market for Sewalls Point.  It’s been quite a while for Sewalls Point to enjoy such robust activity.  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 December of 2015, the inventory was 51 homes on the market, 13 pending sales and there were 3 closed sales.  Showing much better activity this year as opposed to 2015.

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Sewalls Point Single Family Market Report November 2016

Sewalls Point Real Estate Snapshot, Residential Sales for November 2016

There are currently 74 active listings (Down by 5 homes since last month)

11 home sales are pending and awaiting close or lender approval (Increased by 1 home from October)

2 Homes sold in November (Decreased by 4 homes sales from October)

The single family real estate market in Sewalls Point took a second step backward for November 2016 after improving numbers throughout the summer.  Pending sales remained steady but a considerable drop in closed sales.  At least the inventory declined slightly.

The current absorption rate skyrocketed to 37 months, in October it was 13.2 months.  Hopefully we’ll see this number go down as we enter the winter season in the next few months.  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 November of 2015, the inventory was 51 homes on the market, 13 pending sales and there were 3 closed sales.  November 2015 was a much better month for Sewalls Point real estate than this year.

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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)

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

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

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.

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