Wellington Home Inventory Continues to Shrink!

One short year ago Wellington home buyers had 560 homes for sale to choose from, but that is no longer the case. As of today, March 4th, 2013 there are only 454 homes for sale in Wellington Florida with asking prices ranging from $65,000 up to $32,000,000.

While Wellington home inventory continues to shrink home prices continue to rise! In February of 2012 the median sales price was $199,900 and cash buyers at the time accounted for 51% of the home sales. However as of February 2013 the median sales price is now $299,254 and cash buyers slightly increased accounting for 53% of the home sales.

Cash buyers in Wellington Florida have been dominating the real estate market for over two years and consistently make up roughly 50% of the home sales or more. Due to the over abundance of cash buyers those needing financing are starting to have a hard time purchasing a home.

The amount of distressed property sales in Wellington Florida have also been on the decline! As of today there are only 22 Wellington short sales for sale and 16 Wellington bank owned homes for sale, combined making up only 8% of the market share.

For the latest market trends visit: Wellington Florida Real Estate Market Reports