Is Wellswood, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Wellswood was a Buyer's Market.
Key Takeaway
Wellswood is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Wellswood, FL
How much do homes in Wellswood, FL cost?
Median Sold Price
$420,000
$281/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Wellswood have sold for 1.2% less than they did a year ago.
Summary: The median home sold price in Wellswood was $420,000 in March 2024, down 1.2% from last year, and the median price per square foot was $281.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $380K | $300K | -21.1% |
| 3 Bedrooms | $401K | $395K | -1.5% |
| 4 Bedrooms | $503.7K | $560K | +11.2% |
| 5+ Bedrooms | $425K | $714.3K | +68.1% |
Summary: Wellswood housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 21.1%, 3 bedroom homes decreased by 1.5%, 4 bedroom homes increased by 11.2%, and 5+ bedroom homes increased by 68.1%.
Median Sold Price Compared To Nearby Neighborhoods
| West Tampa | $430K | $448.5K | +4.3% |
| Wellswood | $425K | $420K | -1.2% |
| Riverbend | $352.4K | $334.2K | -5.2% |
Housing Supply in Wellswood, FL
How many homes are available in Wellswood, FL?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 17 | 14 | -17.6% |
Summary: The Wellswood real estate market had 14 homes for sale in March 2024, a 17.6% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 1 | -50.0% |
| 3 Bedrooms | 10 | 9 | -10.0% |
| 4 Bedrooms | 4 | 3 | -25.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Wellswood housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 50%, 3 bedroom homes decreased by 10%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 6 | 5 | -16.7% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Wellswood, you may be able to get a good deal. 40% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Wellswood in March 2024, down by 16.7% month-over-month. Of the 5 sold homes, 40% were sold under asking, 20% were sold at asking, and 40% were sold over asking.
Days on Market for Wellswood, FL
How long does it take to sell a home in Wellswood, FL?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 27 Days | 67 Days | +151.1% |
Summary: Homes in Wellswood had an average of 67 days on market in Mar 2024, up by 151.1% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Wellswood are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 5 homes were sold in Wellswood; 40% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
Listings courtesy of Stellar MLS as distributed by MLS GRID.
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