Wellington FL 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 amount 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

Wellington Financing Profiles Sept 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.

Originally posted at http://wellingtonhometeam.com/wellington-fl-real-estate-market-report-cash-or-credit-2/

Michelle Gibson REALTOR®
HANSEN REAL ESTATE GROUP INC.
561.333.0446


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7 Comments on Wellington FL Real Estate Market Report: Cash or Credit?

OCT
09
2011
984,179 Points 106 Featured Posts Localism Sponsor Outside Blog

Very interesting, Michele. What is the "other" market? I presume the under $200K cash buyers are investors, right? Also, is there a bar missing on the left? I can work out the percentages but not the numbers. How many buyers does this chart represent?
4:05pm • #1
1,373,389 Points 151 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Just look at all those all cash home sales floating about in Wellington!
6:52pm • #2
987,380 Points 49 Featured Posts Outside Blog Called Shot Master

Elizabeth - "Other" refers to another type of financing, not Cash, FHA, VA or Conventional. The graph displays the types of buyers in certain price ranges, as you will see almost all of the homes that sold under $100K were to cash buyers (purple).  Cash buyers also dominated the $100K-$150K and the $150K-$200K for home sales.
6:52pm • #3
987,380 Points 49 Featured Posts Outside Blog Called Shot Master

Renee - Yep, they are in every single price range.
7:25pm • #4
761,240 Points 69 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

That old adage about cash being king rings true here.  You can't really compete with an all cash buyer in this lending environment.
10:26pm • #5
OCT
10
2011
606,097 Points 9 Featured Posts Localism Sponsor Outside Blog Called Shot Master

Hi Michelle - wow that is impressive, and over $7 million in cash!  Cash really is king with home purchases.
12:23pm • #6
OCT
11
2011
987,380 Points 49 Featured Posts Outside Blog Called Shot Master

Jane - Cash is king in Wellington, but cash buyers are paying market value for a home just like buyers who are obtaining financing.

Sharon - Yes it is
9:15pm • #7


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Michelle Gibson REALTOR® Wellington Florida Homes for Sale

Wellington, FL

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Hansen Real Estate Group Inc.

Address: www.WellingtonHomeTeam.com

Office Phone: (561) 333-0446

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