Today we will review a market report for housing development of Olympia in Wellington, Florida brought to you by Mark Baker of www.BuyingPalmBeachHomes.com In this article we will cover the current market and the type of homes for sale Olympia Wellington FL, including the current market prices, the metrics on the 90 day sold properties including property types and also the financing terms. This will give you a really good picture of the homes that are available in Olympia in Wellington, Florida. This is one of the largest developments in Wellington, Florida that with almost 2,400 homes.
Currently there are seventy-four homes for sale with thirteen properties under contract marked contingent and ten properties are under contract and marked pending. Now, I often get the question what’s the difference between the two and the difference is this: If the property is under contract market contingent there are still contingencies in the contract that need to be fulfilled. Common types of contingencies are inspections and financing. Once those items have been finalized the agent should change the status in the system to pending. So a listing marked as pending is further along in the sales process and closer to the actual closing date.
There are fifty one properties currently available with thirty one properties that are traditional sales, nine properties that are real estate owned or bank owned and four properties are short sales. The prices in Olympia range significantly since there are many classes of homes within the community. On the low range the pricing is a little over $300,000 for a five bedroom, two bathrooms with almost 2,750 square feet under air and on the high end of the range almost $800,000 for a 6 bedrooms, 8 baths with 5,787 square feet under air.
In the last three months, there have been twenty-six homes that have sold. The average sales price is $462,000 and the price per square foot ranges from $116 to almost a $150 per square foot. I have intentionally given you this range so you can understand the market dynamics for Houses Olympia Wellington FL. There are quite a few foreclosures which foreclosures typically have a lot of deferred maintenance. So if you have a found a foreclosure that you are interested in and are bidding on it I would start in the lower end of this range. If you are looking to buy a traditional sale you should expect that the price point would be somewhere on the higher end of this price per square foot.
The average days on market were 66 days of the sold properties one was a short sale, three were bank or REOs and twenty three were traditional sales. In regards to financing terms, of the closed properties, cash represented eight of those properties, conventional sales with 20% down on the loan represented 15 properties, three were FHA/VA and one was seller financed.
If you are looking to buy or sell a home in Olympia, let me put my experience work for you. I have extensive knowledge of the homes within Olympia with video tours of most models to show clients if they are out of state or they are just looking to get an idea of the floor plan. Thanks for reading this market report for Olympia in Wellington, Florida I hope that you have found the information helpful. You can reach me at 561-768-7968 or you can visit me online at www.BuyingPalmBeachHomes.com
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