Cash did remain King last year in Wellington Florida. Over 44% of home buyers paid cash for their Wellington Florida home, but don't think these buyers paid 30%, 20% or even 10% less than the asking price. In fact the median List to Sales Price Ratio for a Wellington Florida Cash Buyer was 94%. That means a home listed for $300,000 sold for $282,000, NOT $210,000, $240,000 or even $270,000.
Buyers who chose to finance their Wellington home had a slightly higher List to Sales Price Ratio, which was around 95%. However this number could easily be different if those buyers who had seller concessions chose a reduced purchase price instead. Seller concessions is when a seller contributes a certain amount of money towards a buyers closing costs, escrows and/or pre-paids.
For example a buyer may purchase a home for $300,000 and ask the seller to contribute $10K towards their closing cost netting the seller $290,000, but if these financed buyers chose to remove the concessions and pay the $290,000 instead of $300,000 the List to Sales Price Ratio for financed buyers could be well under 95%.
Unfortunately there is no way to find out how many of these financed buyers actually had seller concessions other than contacting each listing agent for the 535 financed homes that sold in Wellington Florida and asking them.
Are you a Buyer looking to purchase a Wellington Home? Start you home search here: Wellington Florida Home Search where you can search for a Wellington property by type or price.
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