Is Wellington, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Wellington was a Seller's Market.
Key Takeaway
Wellington is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Wellington, FL
How much do homes in Wellington, FL cost?
Median Sold Price
$695,000
$309/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Wellington have sold for 4.5% more than they did a year ago.
Summary: The median home sold price in Wellington was $695,000 in May 2024, up 4.5% from last year, and the median price per square foot was $309.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $387.5K | $5.8M | +1403.2% |
| 2 Bedrooms | $405K | $449.5K | +11.0% |
| 3 Bedrooms | $550K | $597K | +8.5% |
| 4 Bedrooms | $755K | $755K | 0.0% |
| 5+ Bedrooms | $1.0M | $1.0M | +6.1% |
Summary: Wellington housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1403.2%, 2 bedroom homes increased by 11%, 3 bedroom homes increased by 8.5%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 6.1%.
Median Sold Price Compared To Nearby Cities
| Sunshine Parkway | $572.8K | $613.8K | +7.2% |
| Royal Palm Beach | $460K | $490.1K | +6.5% |
| Loxahatchee | $633.1K | $673.1K | +6.3% |
| Wellington | $664.8K | $695K | +4.5% |
| Loxahatchee Groves | $775K | $756.2K | -2.4% |
Housing Supply in Wellington, FL
How many homes are available in Wellington, FL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 576 | 610 | +5.9% |
Summary: The Wellington real estate market had 610 homes for sale in May 2024, a 5.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 79 | 83 | +5.1% |
| 3 Bedrooms | 212 | 213 | 0.5% |
| 4 Bedrooms | 157 | 173 | +10.2% |
| 5+ Bedrooms | 126 | 140 | +11.1% |
Summary: The Wellington housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 5.1%, 3 bedroom homes increased by 0.5%, 4 bedroom homes increased by 10.2%, and 5+ bedroom homes increased by 11.1%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 80 | 79 | -1.3% |
Asking Price vs. Sold Price
68 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Wellington, you may be able to get a good deal. 86.1% of homes here sold below asking price last month.
Summary: A total of 79 homes were sold or pending in Wellington in May 2024, down by 1.3% month-over-month. Of the 79 sold homes, 86% were sold under asking, 9% were sold at asking, and 5% were sold over asking.
Days on Market for Wellington, FL
How long does it take to sell a home in Wellington, FL?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 50 Days | 76 Days | +52.6% |
Summary: Homes in Wellington had an average of 76 days on market in May 2024, up by 52.6% compared to last year.
Breakdown of Home Sale Times
31 Homes Were Sold
Under 30 Days
26 Homes Were Sold
In 30 - 90 Days
22 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Wellington are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 79 homes were sold in Wellington; 39% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 28% of homes were sold over 90 days.
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