Wellington Florida Market Report

Wellington Florida Homes for Sale

Wellington Florida

Location: Wellington Florida is centrally located in the western part of Palm Beach County.

Homes: Wellington Florida primarily consists of beautiful single-family homes, but also offers condos, villas, patio homes, townhomes, luxury estate homes, equestrian farms, and multi-family homes.

Year Built: Major construction started in Wellington Florida around the mid-1970s and continues to this day.

Amenities: Wellington Florida is known as the winter equestrian capital of the world, but also offers shopping, dining, and entertainment. Residents also enjoy the local library, parks, and Wellington's weekly events.

Schools: Wellington Florida has top-rated elementary, middle and high schools along with private schools. (Verify school boundaries @ Wellington School Boundaries)

Selling? Find out the value of your Wellington Florida home by calling 561-333-0446 or visiting us online at What's My Home Worth? Once your home value request is received we will provide you with a FREE market analysis via e-mail or with an in-home appointment. Take a sneak peek at just some of the marketing we do to obtain top dollar for your home in the shortest amount of time @ Marketing your home. You can also read what past clients have to say about the service they received by visiting our Testimonial Page.

Buying? If you are looking to purchase a home in Wellington Florida or the surrounding area let us guide you through the home buying process. In order to get started all we need is your home search criteria, which you can provide by calling 561-333-0446 or filling out our Online Buyer Questionnaire. Once received we will do a custom search based on your criteria and e-mail you all of the MLS listings that meet your needs.

Renting? Regardless if you need to list your Wellington Florida home for rent or you want to rent a home in Wellington Florida we can help! If you're a landlord visit our Landlord Resource Center to review our step by step process to listing your home for rent. Here, you will also be able to find out how much your home will rent for, view our tenant screening process, and take a look at just some of the marketing we do to rent your home quickly.

Tenants looking to rent a home in Wellington Florida can receive a list of available homes for rent via e-mail by simply filling out our Online Rental Questionnaire. Learn more about renting a home in Wellington Florida by visiting our Rental Tips and Expectations and review our 9 Steps to Renting a Home.

Contact Realtor Michelle Gibson. @ 561-333-0446 or [email protected] for all your Wellington Florida Real Estate needs.

Previous Detailed Market Reports

Wellington Florida Real Estate Market Report  | January 2022

Wellington Florida home inventory continues to decline with only 162 properties for sale with asking prices starting at $245,000 up to $35,000,000. While last month there were are only 168 with asking prices ranging from $270,000 to $27,990,000.

Home sales have decreased which is no surprise, historically the real estate market always slows down a tad. In November 106 homes were sold with sales prices ranging from $215,000 to $11,650,000. While in December 83 homes sold with sales prices ranging from $150,000 to $8,210,000.

The average DOM (Days on Market) went from 11 days up to 16 days and the price per square foot increased from $265 to $269. Have distressed sales finally left the Wellington real estate market? Only time will tell but there have been no short sales or bank-owned sales since September 2021, which is the first time in over a decade.

Wellington cash buyers have increased once again from 46% in November to 47% in December. Conventionally financed buyers decreased again from 49% in November down to 40% in December. FHA-financed buyers increased from less than 1% up to 4% and "other" types of financing went from 1% up to 9%.

Wellington Florida Real Estate Market Report  | February 2022

Wellington Florida home inventory continues to decline. Last month there were 162 properties for sale with asking prices ranging from $245,000 up to $35,000,000. Now there are only 142 properties for sale with asking prices ranging from $295,000 to $36,000,000.

Home sales have decreased in January 2022. Back in December 83 homes sold with sales prices ranging from $150,000 to $8,210,000. While in January only 65 homes sold with sales prices ranging from $240,000 to $6,750,000. However, don't be fooled by the decrease of home sales, it is still an extreme seller's market in Wellington.

The average DOM (Days on Market) went from 16 days down to 9 days and the price per square foot decreased from $269 to $261. Distressed sales are at an all-time low as well. In January only 1 bank-owned and no short sales.

Wellington cash buyers have decreased from 47% in December to 43% in January. Yes, almost half of homebuyers have been paying cash for their new Wellington home. Conventionally financed buyers increased from 40% in December to 48% in January. FHA homebuyers accounted for 5% and 3% were VA sales while other types of sales accounted for 1%.

Wellington Florida Real Estate Market Report  | March 2022

Wellington Florida home inventory continues to decline. Last month there were 142 and now there are 141 properties for sale with asking prices ranging from $295,000 to $36,000,000.

Home sales increased in February 2022. Back in January 65 homes sold with sales prices ranging from $240,000 to $6,750,000. While in February only 76 homes sold with sales prices ranging from $76,124 to $9,650,000.

The average DOM (Days on Market) remain the same at 9 days and the price per square foot decreased from $269 to $268. Distressed sales remain at an all-time low as well. In February only 1 bank-owned and 1 short sale were sold.

Wellington cash buyers have increased from 43% in January to 49% in February. Yes, almost half of homebuyers paid cash for their new Wellington home. Conventionally financed buyers decreased from 48% in January down to 43% in February. FHA homebuyers went from 5% in January down to 1% in February. VA homebuyers remain the same at 3% and other sales went from 1% up to 6%.

Wellington Florida Real Estate Market Report  | April 2022

For the first time in 2 years Wellington Florida home inventory has increased! Last month there were 141 properties for sale with asking prices ranging from $295,000 to $36,000,000. Now there are 164 properties for sale with asking prices ranging from $295,000 to $36,000,000.

Home inventory isn't the only thing in Wellington that increased, home sales did too. In February 76 homes sold with sales prices ranging from $76,124 to $9,650,000. While in March 99 homes sold with sale prices ranging from $260,000 to $11,200,000.

The average DOM (Days on Market) slightly increased from 9 days in February to 11 days in March. The price per square foot of home sales in Wellington increased from $268 to $292 in March. Distressed sales remain at an all-time low as well. In February only 1 bank-owned and 1 short sale were sold. While in March only 1 bank-owned home sold, no short sales.

Wellington cash buyers slightly decreased from 49% in February down to 47% in March. Conventionally financed buyers increased from 43% in February to 44% in March. FHA homebuyers went from 1% in February back up to 5% in March. VA homebuyers decreased from 3% in February down to 1% in March and other sales went from 6% down to 3%.

Wellington Florida Real Estate Market Report  | May 2022

For the second month in a row home inventory in Wellington Florida has increased. Last month there were 164 properties for sale with asking prices ranging from $295,000 to $36,000,000. Now there are 190 properties for sale with asking prices ranging from $290,000 to $365,000.

Home inventory isn't the only thing in Wellington that increased, home sales did too. In March 99 homes sold with sale prices ranging from $260,000 to $11,200,000 and in April, 107 homes sold with sale prices ranging from $355,000 to $15,500,000.

The average DOM (Days on Market) slightly decreased from 11 days in March to 10 days in April. The price per square foot of home sales in Wellington increased from $292 to $308 in April. Distressed sales remain at an all-time low as well. In March only 1 bank-owned home sold, no short sales and in April there were no distressed sales.

Wellington cash buyers slightly increased from 47% in March to 50% in April. Conventionally financed buyers increased from 44% in March to 48% in April. FHA homebuyers went from 5% in March back down to 1% in April. VA homebuyers went from 1% in March to just under 1% in April and other sales went from 3% down to 0%.

Wellington Florida Real Estate Market Report  | June 2022

Inventory in Wellington Florida has increased for the 3rd straight month, this time by 28%. We still have a severe lack of inventory but at this rate we'll be back to a "normal" seller's market by the end of the year.

Last month we had 190 properties for sale with asking prices ranging from $290,000 to $36,000,000 and now we have 243 properties for sale with asking prices ranging from $250,000 to $36,000,000.

However, home sales have increased. Back in April, 107 homes sold with sale prices ranging from $355,000 to $15,500,000. While in May 123 homes sold with sale prices ranging from $275,000 to $8,150,000.

The average DOM (Days on Market) slightly decreased from 10 days in April down to 8 days in May. The price per square foot of home sales in Wellington increased from $308 in April up to $322 in May. Distressed sales remain the same, in both April and May there were no distressed sales.

Wellington cash buyers slightly increased from 50% in April up to an all-time high of 63% in May. Conventionally financed buyers decreased from 48% in April down to 33% in May. FHA homebuyers went from 1% in April to less than 1% in May. VA homebuyers remain the same at 1% and other sales went from 0% up to 2%.

Wellington Florida Real Estate Market Report  | July 2022

Home inventory in Wellington has slightly increased again but the number of homes for sale is still extremely low.

Last month we had 243 properties for sale with asking prices ranging from $250,000 to $36,000,000. Now we have 275 homes for sale with asking prices ranging from $299,000 to $35,000,000.

While home sales have decreased. Back in May 123 homes sold with sale prices ranging from $275,000 to $8,150,000 and 92 homes sold in June with sale prices ranging from $272,000 to $13,638,175.

The average DOM (Days on Market) slightly increased from 8 days in May back up to 10 days in June. The price per square foot of home sales in Wellington decreased from $322 in May down to $310 in June. While distressed sales slightly changed, in May there were none and in June there was one short sale.

Wellington cash buyers decreased but cash buyers still account for more than 50% of buyers! In May 63% of buyers paid cash while in June only 52% paid cash. Conventionally financed buyers increased from 33% in May up to 42% in June. FHA homebuyers went from 1% in May up to 2% in June. VA homebuyers also increased from 1% in May up to 2% in June and other sales remain the same at 2%.

Wellington Florida Real Estate Market Report  | August 2022

The Wellington real estate market continues to be a strong seller's market and home inventory is going back down.

Last month we had 275 homes for sale with asking prices ranging from $299,000 to $35,000,000 and now we have 265 homes for sale with asking prices ranging from $269,900 to $35,000,000.

Home sales increased once again. Back in June 92 homes sold with sale prices ranging from $272,000 to $13,638,175 and in July 98 homes sold with sale prices ranging from $245,000 to $5,750,000.

The average DOM (Days on Market) slightly increased from 10 days in June up to 12 days in July. The price per square foot of home sales in Wellington decreased from $310 in June down to $297 in July. While distressed sales are back down to zero while last month there was only one short sale that sold.

Wellington cash buyers decreased but they still account for 40% of buyers. While back in June they accounted for 50% of sales. Conventionally financed buyers significantly increased from 42% in June up to 52% in July. FHA homebuyers remain the same at 2%. VA homebuyers also increased from 2% in June up to 3% in July and other sales slightly increased from 2% up to 3%.

Wellington Florida Real Estate Market Report