Sewalls Point Single Family Market Report February 2018

Sewalls Point Real Estate Snapshot, Residential Sales for February 2018

There are currently 50 active listings (No change in active listings from last month)

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

3 Homes sold in June (Decreased by 3 homes sales from January)

The single-family real estate market in Sewalls Point had weaker sales results as compared to both last month and last year.  The inventory of available homes continues to be an issue being at very low levels.

The absorption rate jumped to 16.7 months, in January was 8.3 months.  Going back towards a stronger buyer’s market for Sewalls Point single-family homes.  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 2016, the inventory was 67 homes on the market, 15 pending sales and there were 5 closed sales.  Better activity last February tough there is a lower number of available homes for sale this year.

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Sewalls Point Single Family Market Report January 2018

Sewalls Point Real Estate Snapshot, Residential Sales for January 2018

There are currently 50 active listings (Up by 4 homes from last month)

10 home sales are pending and awaiting close or lender approval (Decreased by 3 homes from December)

6 Homes sold in June (Increased by 3 homes sales from December)

The single-family real estate market in Sewalls Point rebounded some from a weak December.  The inventory of available homes continues to be an issue being at very low levels.

The absorption rate dropped to 8.3 months, in December was 15.3 months.  Still, a buyer’s market for Sewalls Point single-family homes, though trending in the right direction.  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 2016, the inventory was 67 homes on the market, 11 pending sales and there were 4 closed sales.  Better activity this year even though there’s less inventory.

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Sewalls Point Single Family Market Report December 2017

Sewalls Point Real Estate Snapshot, Residential Sales for December 2017

There are currently 46 active listings (Down by 1 homes from last month)

13 home sales are pending and awaiting close or lender approval (Increased by 4 homes from November)

3 Homes sold in June (Decreased by 7 homes sales from November)

The single-family real estate market in Sewalls Point had a weak month for closed sales, but did show an increase inpending sales.  The inventory of available homes is now down to historically low numbers.

The absorption rate jumped to 15.3 months, in November was 4.7 months.  Back into a buyer’s market for Sewalls Point single family homes after only a single month in a seller’s 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 2016, the inventory was 62 homes on the market, 10 pending sales and there were 11 closed sales.  Better sales activity last year on a significantly greater invenotry.

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Sewalls Point Single Family Market Report November 2017

Sewalls Point Real Estate Snapshot, Residential Sales for November 2017

There are currently 47 active listings (Up by 6 homes from last month)

9 home sales are pending and awaiting close or lender approval (Decreased by 6 homes from October)

10 Homes sold in June (Increased by 9 homes sales from October)

The single-family real estate market in Sewalls Point continues to have less inventory of available homes for sale.  Pending sales dropped for last month while closed sales were impressive.  A good showing for Sewalls Point for November 2017.

The absorption rate dropped to 4.7 months, in October was 41 months.  Into a seller’s market for Sewalls Point single family homes for the first time in many years.  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 2016, the inventory was 74 homes on the market, 11 pending sales and there were 2 closed sales.  Considerably better sales activity this year, even with significantly lower inventory.

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Sewalls Point Single Family Market Report October 2017

Sewalls Point Real Estate Snapshot, Residential Sales for October 2017

There are currently 41 active listings (Down by 2 homes from last month)

15 home sales are pending and awaiting close or lender approval (Increased by 11 homes from September)

1 Homes sold in June (Decreased by 3 homes sales from September)

The single family real estate market in Sewalls Point continues to have less inventory of available homes.  Pending sales rose sharply for last month while closed sales were off.  Most likely a result of Hurricane Irma from the previous month that closed the real estate business for a few weeks.

The absorption rate shot up to 41 months, in September was 10.8 months.  An extreme buyer’s market for Sewalls Point single family homes.  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 2016, the inventory was 79 homes on the market, 10 pending sales and there were 6 closed sales.  Considerably better sales activity last year, also with much greater inventory of homes for sale..

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Sewalls Point Single Family Market Report September 2017

Sewalls Point Real Estate Snapshot, Residential Sales for September 2017

There are currently 43 active listings (Down by 11 homes from last month)

4 home sales are pending and awaiting close or lender approval (Decreased by 2 homes from August)

4 Homes sold in June (Increased by 3 homes sales from August)

The single family real estate market in Sewalls Point had a large drop of inventory for September.  Sales increased from last month but pending sales were off.  Some of this activity could have been impacted by Hurricane Irma which shut down real estate for a little over a week last month.

The absorption rate dropped to 10.8  months, in August was 54 months.  Still a buyers’ market for Sewalls Point single family homes but not nearly as extreme as the previous 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 September 2016, the inventory was 69 homes on the market, 10 pending sales and there were 7 closed sales.  Considerably better sales activity last year.

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Sewalls Point Single Family Market Report August 2017

Sewalls Point Real Estate Snapshot, Residential Sales for August 2017

There are currently 54 active listings (Up by 11 homes from last month)

6 home sales are pending and awaiting close or lender approval (Decreased by 2 homes from June)

1 Homes sold in June (Decreased by 7 homes sales from June)

The single family real estate market in Sewalls Point had very weak closed sales for August and the pending (future0 sales activity is also not very impressive.  The inventory is down from last year as well.

The absorption rate balooned to 54  months, in June it was 3.6 months.  An extreme buyers’ market for Sewalls Point single family homes after two earlier good months 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 August 2016, the inventory was 66 homes on the market, 14 pending sales and there were 6 closed sales.  Considerably better sales activity this year and with reduced inventory.

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Sewalls Point Single Family Market Report July 2017

Sewalls Point Real Estate Snapshot, Residential Sales for July 2017

There are currently 43 active listings (Down by 14 homes from last month)

8 home sales are pending and awaiting close or lender approval (Decreased by 6 homes from June)

8 Homes sold in June (Decreased by 8 homes sales from June)

The single family real estate market in Sewalls Point continues with strong activity for July.  Sales were off from last month but remain quite good with a much smaller inventory of available homes.

The absorption rate plunged to 5.4 months, in June it was 3.6 months.  Holding on to a sellers’ market for Sewalls Point single family homes for the second month in a row.  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 July 2016, the inventory was 69 homes on the market, 11 pending sales and there were 2 closed sales.  Considerably better sales activity this year and with reduced inventory.

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Sewalls Point Single Family Market Report June 2017

Sewalls Point Real Estate Snapshot, Residential Sales for June 2017

There are currently 57 active listings (Down by 3 homes from last month)

14 home sales are pending and awaiting close or lender approval (Decreased by 8 homes from May)

16 Homes sold in May (Increased by 7 homes sales from May)

The single family real estate market in Sewalls Point contined to show very positive results for June.  Sales were the best in a number of years and while the pending numbers were down for the month, they still are quite good.

The absorption rate plunged to 3.6 months, in May it was 6.7 months.  For the first time in years, a strong sellers market for Sewalls Point single family homes.  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 June 2016, the inventory was 76 homes on the market, 5 pending sales and there were 10 closed sales.  Considerably better activity this year and with reduced inventory.

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Sewalls Point Single Family Market Report May 2017

Sewalls Point Real Estate Snapshot, Residential Sales for May 2017

There are currently 60 active listings (Down by 5 homes from last month)

22 home sales are pending and awaiting close or lender approval (Increased by 4 homes from April)

9 Homes sold in April (Increased by 2 homes sales from April)

The single family real estate market in Sewalls Point showed some very positive results for May.  The strong pending numbers should also result in good sales numbers for the coming months.

The absorption rate dropped to 6.7 months, in April it was 9.3 months.  Into a balanced market after many, many months of a buyers’ market for 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 May 2016, the inventory was 70 homes on the market, 11 pending sales and there were 9 closed sales.  Identical number of closed sales as last year, but a significant increase in pending sales and on a reduced inventory.

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Sewalls Point Single Family Market Report April 2017

Sewalls Point Real Estate Snapshot, Residential Sales for April 2017

There are currently 65 active listings (Down by 1 home from last month)

18 home sales are pending and awaiting close or lender approval (Decreased by 3 homes from March)

7 Homes sold in March (Decreased by 2 homes sales from March)

The single family real estate market in Sewalls Point retreated slightly after a strong March.  Still, better activity than last year, but it could be stronger.

The absorption rate rose to 9.3 months, in March it was 7.3 months.  Still a strong 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 April 2016, the inventory was 68 homes on the market, 19 pending sales and there were 3 closed sales.  Similar inventory and pending sales as compared to last year with better closed sales for this April.

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