Sewalls Point Single Family Market Report January 2016

Sewalls Point Real Estate Snapshot, Residential Sales for January 2016

There are currently 57 active listings (Up by 6 homes since last month)

15 home sales are pending and awaiting close or lender approval (Increased by 2 homes from December)

4 Homes sold in January (Up by 1 sales from December)

The single family real estate market in Sewalls Point remains challenging as many of the homes in this community are in the higher end of the price spectrum or some homes are older and in need of updating and the sellers feel the cache of this exclusive community warrants the listing price.

The current absorption rate dropped to 14.25 months, in December it was 17 months. Still a strong buyers market for Sewalls Point.  Though, if the trend for improving sales continue, this may soon come to an end.  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 of 2014, the inventory was 58 homes on the market, 10 pending sales and there were 3 closed sales.  With very similar inventory, market activity is better for 2016 than for last year in Sewalls Point, but still plenty of room for improvement.

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Sewalls Point Single Family Market Report December 2015

Sewalls Point Real Estate Snapshot, Residential Sales for December 2015

There are currently 51 active listings (Down by 11 homes since last month)

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

3 Homes sold in December (Down by 5 sales from November)

The single family real estate market in Sewalls Point had a poor month for closed sales in December, though other indications of future activity look very positive.  The inventory is down to a much more reasonable level from past months and pending sales are also looking very positive.

The current absorption rate climbed to 17 months, in November it was 7.8 months. a strong buyers market for Sewalls Point.  Though, if the trend for improving sales continue, this may soon come to an end.  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 2014, the inventory was 57 homes on the market, 8 pending sales and there were 18 closed sales.  Considerably better closed activity last year for the Sewalls Point single family home market, though pending sales look better this year.

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Sewalls Point Single Family Market Report November 2015

Sewalls Point Real Estate Snapshot, Residential Sales for November 2015

There are currently 51 active listings (Down by 11 homes since last month)

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

3 Homes sold in November (Down by 5 sales from October)

The single family real estate market in Sewalls Point had a poor month for closed sales in November, though other indications of future activity look very positive.  The inventory is down to a much more reasonable level from past months and pending sales are also looking very positive.

The current absorption rate climbed to 17 months, in October it was 7.8 months. a strong buyers market for Sewalls Point.  Though, if the trend for improving sales continue, this may soon come to an end.  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 2014, the inventory was 57 homes on the market, 8 pending sales and there were 18 closed sales.  Considerably better closed activity last year for the Sewalls Point single family home market, though pending sales look better this year.

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Sewalls Point Single Family Market Report October 2015

Sewalls Point Real Estate Snapshot, Residential Sales for October 2015

There are currently 62 active listings (Up by 8 homes since last month)

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

8 Homes sold in October (Up by 3 sales from September)

The single family real estate market in Sewalls Point has shown some steady improvement in the past three months and if this trend continues we may very well find this market to be in balance fairly soon.

The current absorption rate dropped to 7.8 months, in September it was 10.8 months. Still a buyers market for Sewalls Point but has been improving steadily for the past three 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 October of 2014, the inventory was 45 homes on the market, 8 pending sales and there were 2 closed sales.  Considerably better activity this year for the Sewalls Point single family home market.

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Sewalls Point Single Family Market Report September 2015

Sewalls Point Real Estate Snapshot, Residential Sales for September 2015

There are currently 54 active listings (Down by 5 homes since last month)

15 home sales are pending and awaiting close or lender approval (Decreased by 1 homes from August)

5 Homes sold in September (Up by two sales from August)

The single family real estate market in Sewalls point continues to struggle, though there was some improvement for this month as compared to the last few reporting periods.  Sales appear to be picking up in Sewalls Point and at a good price point for both buyers and sellers.

The current absorption rate dropped to 10.8 months, in August it was 19.7 months. Still a buyers market for Sewalls Point. With pending sales rising, this may be an excellent time for buyers to take advantage of the Sewalls Point residential 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 September of 2014, the inventory was 45 homes on the market, 7 pending sales and there were no closed sales.  Better activity this year for the Sewalls Point single family home market.

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Sewalls Point Single Family Market Report August 2015

Sewalls Point Real Estate Snapshot, Residential Sales for August 2015

There are currently 59 active listings (Up by 1 homes since last month)

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

3 Homes sold in August (Down by two sales from July)

The single family real estate market in Sewalls point continues to struggle, but with increased pending activity we may see a nice improvement in the coming season.  Prices are once again going up in this market and it seems that the days of the bargain may be approaching an end for now.

The current absorption rate jumped to 19.7 months, in July it was 11.6 months. A very strong buyers market. With pending sales rising, this may be an excellent time for buyers to take advantage of the Sewalls Point residential 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 August of 2014, the inventory was 41 homes on the market, 8 pending sales and there were 7 closed sales.  Considerably greater sales activity last year with less inventory.

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