Wellington Real Estate Market Report | Cash or Credit?
Cash Buyers have been dominating the Wellington Florida real estate market all year and September was no different. Last month cash buyers accounted for 49% of the home buyers in Wellington Florida. While the number of cash buyers may not surprise anyone, the amount of money cash buyers are spending will surprise most. So far this year 24 home buyers have paid over one million dollars for their Wellington home in cash. The highest cash sale this year was for $7,560,000, yes that’s over 7 million dollars, but the years not over yet. Below are the Wellington home buyer financing profiles for September 2011
If you are a buyer obtaining financing know that you might be competing against a cash buyer and if you are a cash buyer be aware that you won’t get a home for 10%, 20%, or 30% off the list price. In September 2011 the median list to sales price ratio was 96.05% and for cash buyers, it was 94.65%. So on a $300,000 cash buyers are paying almost $284,000.
Looking to buy or sell a home in Wellington FL? Contact us today for all your Wellington Florida real estate needs.
Michelle Gibson of the Hansen Real Estate Group Inc is a full-time REALTOR who has been specializing in Wellington Florida real estate since 2001. This veteran of the real estate industry has expertise in technology, marketing, and social media.