Short Sale Market Report: April 2011 in West Palm Beach, FL

West Palm Beach Homepage: Real Estate Homepage

Short sales in Wellington Florida started becoming common quickly after property values began declining back in 2006 and now they make up 19% of the homes for sale. While most real estate agents in Wellington Florida were entering an uncharted territory with short sales most are now more than familiar with what a short sale is and how the process works, but there are still some agents who won?t work with short sale buyers or short sale sellers.

Wellington FL Short Sales Percentage Wellington Florida Short Sale Market Report:  April 2011

There are currently 136 short sale homes for sale in Wellington Florida, which makes up 19% of the total homes for sale in Wellington. However when it comes to the amount of homes that are currently under contract in Wellington FL Short Sales make up 54% of the 338 pending homes. A total of 91 homes sold in March 2011 and Wellington short sales accounted for 18% of those sales.

Wellington FL Short Sales List Price Wellington Florida Short Sale Market Report:  April 2011

The highest list price for a short sale home for sale in Wellington is 2.5 million and the lowest is $63,000. A majority of the short sales for sale in Wellington have a list price of $250,001 to $300,000.

Wellington FL Short Sales Aborption Rate Wellington Florida Short Sale Market Report:  April 2011

When it comes to short sales in Wellington based on absorption rate it?s a Buyer?s Market, but is it really. Often times short sale listing agents will keep their short sale listings ?ACTIVE? in the mls even though they have an executed contract submitted to the sellers lender for approval. Some of these agents do it because they are interested in receiving back up offers while other times the short sale listing agent just didn?t get around to changing the status.

Now say the real number of ?ACTIVE? short sales is 110 and not 136, the current ?Buyer?s Market? would quickly turn into a ?Stable Market.? So unfortunately it may or may not be a ?Buyer?s Market? when it comes to short sales in Wellington Florida.

If you are thinking about buying a short sale or selling your Wellington FL home via short sale make sure to hire a Wellington FL REALTOR who is experienced with the short sale process.

Information provided by RMLS on April 12, 2011 and deemed reliable, but not guaranteed
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