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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Sewalls Point Homes for Sale and Sold Report April 2014

Sewalls Point Real Estate Snapshot, Residential Sales for April 2014

There are currently 58 active listings (an decrease of 3 home for sale from March)

 13 Residential sales are pending and awaiting close or lender approval (Down by 4 homes from last month)

5 Homes sold in March (Up by 1 homes from March)

The Sewalls Point market activity for April 2014 continues to show some slow movement.   Closed sales were up by 1 home from last month, but unfortunately pending sales (a sign of future activity) were off.  The inventory also decreased fro April.

The absorption rate is currently 11.6 months compared to last months 15.3 months, a nice improvement, but still plenty of room for improvement.  It’s been a strong buyers market for Sewalls Point in the past 3 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 April 2013, the inventory was 61 homes on the market, 17 pending sales and there were 4 closed sales.  Basically very similar to last spring’s activity.

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Sewalls Point Homes for Sale and Sold Report March 2014

Sewalls Point Real Estate Snapshot, Residential Sales for March 2014

There are currently 61 active listings (an increase of 1 home for sale from February)

 17 Residential sales are pending and awaiting close or lender approval (Up by 6 homes from last month)

4 Homes sold in February (Up by 3 homes from February)

After a very slow February, the Sewalls Point market activity for March 2014 is showing some good improvement.   While we had only 4 closed sales, it’s still much better than the single closed sale for February. Additionally, with 17 pending sales, it appears that closed sales should do much better in the coming months.  Active inventory rose by only 1 home.

The absorption rate is currently 15.3 months compared to last months 60 months, a nice improvement, but still plenty of room for improvement.  It’s been a strong buyers market for Sewalls Point in the past 2 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 March 2013, the inventory was 57 homes on the market, 15 pending sales and there were 5 closed sales.  Marginally better activity last year.

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Sewalls Point Homes for Sale and Sold Report February 2014

Sewalls Point Real Estate Snapshot, Residential Sales for February 2014

There are currently 60 active listings (an increase of 6 homes for sale from January)

11 Residential sales are pending and awaiting close or lender approval (Up by 7 homes from last month)

1 Homes sold in January (Down by 8 homes from January)

A difficult month for closed sales for the Sewalls Point market activity for February 2014.   Only 1 closed sales for February, even though this sale was at a nice price point, this is not a good number.  Inventory rose again for the second month in a row.  And, a glimmer of good news as pending sales rose from last month indicating a good sign pf more closed sales coming in the future.

The absorption rate shot up to 60 months compared to last months 6 months.  Not a good rate for sellers.  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 February 2013, the inventory was 55 homes on the market, 17 pending sales and there were 2 closed sales.  As in many of our other areas, we are continuing to see increased inventory.  Unfortunately, the market activity has decreased from February of 2013.

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Sewalls Point Homes for Sale and Sold Report January 2014

Sewalls Point Real Estate Snapshot, Residential Sales for January 2014

There are currently 54 active listings (an increase of 11 homes for sale from December)

4 Residential sales are pending and awaiting close or lender approval (Down by 4 homes from last month)

12 Homes sold in December (Up by 4 homes from December)

Mostly a strong start for the Sewalls Point market activity to begin 2014.   Up to 9 closed sales for January, which is a nice increase.   There was also a nice jump in available homes for sale this month.  The only negative was a decrease in pending sales, which will most likely result in a smaller number of closed sales in February.

The absorption rate decreased to 6 months compared to last months 8.6 months.  Now a balanced market in Sewalls Point.  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 January 2013, the inventory was 49 homes on the market, 7 pending sales and there were 2 closed sales.  As in many of our other area, we are beginning to see increased inventory.  Also, better closed sales as there is more homes to choose from.

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Sewalls Point Homes for Sale and Sold Report December 2013

Sewalls Point Real Estate Snapshot, Residential Sales for December 2013

There are currently 43 active listings (a decrease of 3 homes for sale from November)

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

5 Homes sold in November (Up by 4 homes from November)

After a disappointing November, the Sewalls Point market activity rebounded a bit for December 2013 to end the year fairly well.   Back to 5 closed sales for December.   The inventory decreased again and pending sales had a slight increase.

The absorption rate decreased to 8.6 to  months compared to last months 46 months.  Still a slight buyers’ 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 December of 2012, the inventory was 36 homes on the market, 8 pending sales and there were 6 closed sales.  Interestingly we have a higher inventory this year and 1 less sale.  Still better numbers than last month.

Please use the charts below as reference only as they rely on all residential types of property in the Sewalls Point real estate market:

Sewalls Point Residential Market Report November 2013

Sewalls Point Real Estate Snapshot, Residential Sales for November 2013

There are currently 46 active listings (a decrease of 1 home for sale from October)

7 Residential sales are pending and awaiting close or lender approval (No change from last month)

1 Homes sold in October (Down by 4 homes from October)

The November Sewalls Point residential market activity was a bit disappointing.  Only 1 closed sale for November.  Inventory decreased by 1 home and pending sales were also low at 7 homes (unchanged from last month).  Hopefully, this is a result of the slower holiday time period and not an indication of future market activity.

The absorption rate skyrocketed to 46 months compared to last months 9.4 months.  A serious buyers’ market.  A 6 month absorption rate is considered a balanced market where neither the seller nor buyer have an advantage.

Comparing the results to November of 2012, the inventory was 41 homes on the market, 10 pending sales and there were 8 closed sales.  Not a good sign as last years’ activity was considerably better than 2013.

Please use the charts below as reference only as they rely on all residential types of property in the Sewalls Point real estate market:

Sewalls Point Residential Market Report October 2013

Sewalls Point Real Estate Snapshot, Residential Sales for October 2013

There are currently 47 active listings (a decrease of 2 homes for sale from September)

7 Residential sales are pending and awaiting close or lender approval (No change from last month)

5 Homes sold in September (Up by 3 homes from September)

After a disappointing September, a little increased activity for October for the Sewalls Point residential market activity.  Sales increased to 5 homes (up from only two for September).  Pending sales remained unchanged, and not particularly good.   Inventory decreased by two homes.  The holiday season will soon be here which typically results in less foot traffic, but often some good sales numbers.

The absorption rate dropped to 9.4 months after last months atrocious 24.5 months.  Still a buyer’s market.  A 6 month absorption rate is considered a balanced market where neither the seller nor buyer have an advantage.

Comparing the results to October of 2012, the inventory was 47 homes on the market, 17 pending sales and there were 7 closed sales.  Unfortunately, for Sewalls Point, 2013 is well under performing from last years numbers.

Please use the charts below as reference only as they rely on all residential types of property in the Sewalls Point real estate market:

Sewalls Point Residential Market Report September 2013

Sewalls Point Real Estate Snapshot, Residential Sales for September 2013

There are currently 49 active listings (an increase of 3 homes for sale from August)

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

2 Homes sold in August (A decrease of 5 homes from August)

The Sewalls Point residential real estate market is having a slow summer.   For September 2013 sales were down significantly as only 2 homes sold.  Pending sales were up by 1 home, though still not a very high number.  We are into the slower months of our real estate market and there is also a lot of unease with the current economy, so we will hope for an increase in activity soon.  Though it may not happen till after the holidays.

The absorption rate jumped dramatically to 24.5 months.  Once again into a buyers market.  A 6 month absorption rate is considered a balanced market where neither the seller nor buyer have an advantage.

Comparing the results to September of 2012, the inventory was 50 homes on the market, 20 pending sales and there were 3 closed sales.  The biggest difference from last year is the much lower pending inventory in 2013.  Not a good sign for sales in the immediate future.

Please use the charts below as reference only as they rely on all residential types of property in the Sewalls Point real estate market: