Wellington Real Estate Update | The Market has Shifted!

The home inventory in Wellington Florida continues to increase and while home sales increased in Wellington this month it is now a STABLE MARKET! You read that correctly, after countless months of Wellington experiencing a strong sellers market it has now shifted.

Wellington homes sales in November 2013 increased slightly with 92 home sales compared to October 2013, which had 86 closed sales. Home sale prices remained strong ranging from $67,000 to $1,887,500. Of the 92 home sales in Wellington 76% were traditional sales, 11% were short sales and 13% were bank owned (REO). Unexpectedly Wellington cash buyers did not dominate the market this month and only accounted for 40% of the home sales. Conventional home buyers made up 43% of the home sales and FHA home buyers accounted for only 9%.

There are currently 546 homes for sale in Wellington, a big increase of 31 homes compared to last month and asking prices range from $74,900 up to $34,750,000. There are 277 homes under contract, which is down 22 homes since October 2013 and these homes had asking prices ranging from $35,000 up to $5,990,000.

While Wellington is no longer a SELLERS MARKET there are still neighborhoods that are, such as; Black Diamond, Grand Isles and Olympia.

Checkout the full Wellington Real Estate Market Overview for November below