Wellington Real Estate Update | Home Inventory is DOWN Again

The home inventory in Wellington Florida was starting to increase slightly, but this month it has decreased again and Wellington remains a Sellers Market. However it looks like we might be heading into a stable market if home sales continue to decrease.

Wellington homes sales in October 2013 decreased again with only 86 home sales compared to September 2013, which had 96 closed sales. Home sale prices remained strong ranging from $73,500 to $2,100,000. Of the 86 home sales in Wellington 84% were traditional sales, 10% were short sales and 6% were bank owned (REO). As expected Wellington cash buyers continued to dominate the real estate market and increased greatly now accounting for 56% of the home sales, which is a 12% increase from the previous month. Conventional home buyers made up 31% of the home sales while FHA home buyers dropped significantly and now account for only 5%.

There are currently 515 homes for sale in Wellington, a decrease of only 5 homes and asking prices range from $85,500 up to $34,750,000. There are still 299 homes under contract, which hasn’t changed since September 2013 and these homes had asking prices ranging from $35,000 up to $1,900,000.

Wellington remains a SELLERS MARKET and a few of the neighborhoods sharing in the sellers market include; Black Diamond, Grand Isles and Olympia.

Checkout the full Wellington Real Estate Market Overview for October below