How did the Wellington Real Estate Market do in 2017?

So how did the Wellington Real Estate Market do in 2017? In short home sales decreased, days on market increased along with the median sales price. Throughout 2017 Wellington was a stable market 92% of the time, which in previous years it was predominantly a seller’s market, so there was a noticeable shift. While multiple offers still occurred, there were a lot of homes priced right that didn’t receive multiple offers and sat on the market, sometimes for weeks and even months.

How did the Wellington Real Estate Market do in 2017

In 2016 there were a total of 1,371 home sales, but there was almost a 6% decrease in 2017 and only 1,296 homes sold. The median price did increase almost 2.5% from $360,000 in 2016 to $368,888 in 2017. Since Wellington was a stable market it’s no surprise the days on market increased from 42 days in 2016 to 63 days in 2017.

Conventionally financed accounted for 50% of the home sales in 2017 while cash buyers accounted for 33%, FHA buyers accounted for 11% and 7% accounted for “other,” such as VA buyers or seller financing. 2016 buyer profiles were as follows; 39% were conventionally financed, 9% FHA financed and 15% were other.

Short sales and bank owned home sales significantly DECREASED in 2017 and accounted for only 7% of the home sales! Considering distressed sales accounted for 12% in 2016, 19% in 2015 and 20% in 2014 this is a HUGE improvement and a great sign.

Wellington Florida 2017 Year in Review at a Glance

Wellington-Florida-2017-Year-in-Review-Real-Estate

Check out the 2017 year in review real estate reports for the most popular communities in Wellington Florida by clicking on the link below.

Wellington Community 2017 Year in Review

 Wellington Florida Home Search  Wellington Florida Sellers  Wellington Florida Rental Search

WellingtonHomeTeam.com

Michelle Gibson, REALTOR
WellingtonHomeTeam.com
Specializing in Residential Real Estate Since 2001
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Top Realtor in Wellington Florida

Information provided by Beaches MLS on January 9th, 2018 and deemed reliable, but not guaranteed

2018-01-11T10:31:28+00:00 By |Categories: Around Town|

About the Author:

Michelle Gibson is a full-time REALTOR® specializing in residential real estate since 2001 and has all of your real estate needs covered assisting buyers, sellers, renters and landlords. If you would like to learn more about this "Great Hometown" or need to sell your Wellington home put this Wellington residents expertise to work for you! Michelle Gibson with the Hansen Real Estate Group Inc. can be reached at 561-333-0446 or Contact@WellingtonHomeTeam.com or visit her online @ http://WellingtonHomeTeam.com

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