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Sewalls Point Single Family Market Report July 2018
Sewalls Point Single Family Market Report July 2018 SEWALLS POINT Real Estate Snapshot, Residential Sales for July 2018  
There are currently 50 active listings (Up by 4 homes from last month)

6 home sales are pending and awaiting close or lender approval (Down by 4 homes from June)

9 Homes sold in July (Increased by 3 homes sales from June)

The single-family real estate market in Sewalls Point had increased closed sales for the month but not as many pending sales.  his could be an indication of fewer closed sales in the coming months.
The absorption rate dipped to 5.6 months, in June was 7.7 months.  Transitioning into a seller’s 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 July 2017, the inventory was 43 homes on the market, 8 pending sales and there were 8 closed sales.  Better activity last year with less inventory, except for one greater closed sale for this year.

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