Sewalls Point Single Family Market Report April 2015

Sewalls Point Real Estate Snapshot, Residential Sales for April 2015

There are currently 79 active listings (Increased by 7 homes since last month)

11 home sales are pending and awaiting close or lender approval (Down by 6 homes from March)

6 Homes sold in April (Increased by 3 homes from March)

The Sewalls Point single family homes market activity remains challenging for sellers.  Though buyers have some excellent choices and opportunities at the present time.  Closed sales doubled from last month, though the inventory is quite high and pending sales decreased.

The current absorption rate dropped to 13.2 months, in March it was 24 months. Much improved from last month, but still a buyer’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 April of 2014, the inventory was 58 homes on the market, 13 pending sales and there were 5 closed sales.  Other than 1 additional closed sale this year, last years activity was better when considering the lower inventory.

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Sewalls Point Single Family Market Report March 2015

Sewalls Point Real Estate Snapshot, Residential Sales for March 2015

There are currently 72 active listings (Increased by 4 homes since last month)

17 home sales are pending and awaiting close or lender approval (Up by 9 homes from February)

3 Homes sold in March (Unchanged from February)

The Sewalls Point single family homes market activity continues to have some difficulties, though there is some glimmer of better activity to come with a large increase in pending sales for this month.  Closed sales remained unchanged and the inventory was up by four homes.

The current absorption rate rose to 24 months, in February it was 22.7 months.  Sewalls Point single family home sales remain in an extreme buyers market for March.  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 of 2013, the inventory was 61 homes on the market, 17 pending sales and there were 4 closed sales.  Very similar sales activity as compared to last year, but with greater inventory this year.

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Sewalls Point Single Family Market Report February 2015

Sewalls Point Real Estate Snapshot, Residential Sales for February 2015

There are currently 68 active listings (Increased by 10 homes since last month)

8 home sales are pending and awaiting close or lender approval (Down by two homes from January)

3 Homes sold in February (Unchanged from January)

The Sewalls Point single family homes market activity continues to have some difficulties. The inventory rose by 10 homes this month while pending sales were off and another month with only three sales.

The current absorption rate is 22.7 months, in January it was 19.3 months.  Sewalls Point single family home sales remain in an extreme buyers market for February.  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 of 2013, the inventory was 55 homes on the market, 17 pending sales and there were 2 closed sales.  Last year saw fewer sales in February, but much better pending activity.

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Sewalls Point Single Family Market Report January 2015

Sewalls Point Real Estate Snapshot, Residential Sales for January 2015

There are currently 58 active listings (No change since last month)

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

3 Homes sold in January (Decreased by 2 home from December)

The Sewalls Point single family homes market activity continues to have some difficulties. The inventory remains at a good level and pending sales were up a bit for January, but only three sales for last month.

The current absorption rate is 19.3 months, in December it was 11.6 months.  Sewalls Point single family home sales remain in a pretty extreme buyers market for January.  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 2013, the inventory was 54 homes on the market, 4 pending sales and there were 12 closed sales.  Considerably better activity for the start of 2014 as compared to this year.

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