Wellington Vacant Land Market Report
Wellington does not have much vacant land left as much of the land has been built on. We are a small town or village as we like to call it.
While there are some lots left on which you can build a house on that are in subdivisions around Wellington, those are not in high demand as the cost to build a new house is more than what you can buy a house for in the same neighborhood in many cases.
However, the Wellington vacant land that is always in demand is in the Wellington Equestrian areasof Wellington. Whenever we get a listing in one of these prime locations we get offers on the land nearly straight away if the owners have priced the property in line with the value.
In 2011 there were 11 such land parcels that sold and closed in the Wellington Equestrian property areas.
Most of the land parcels that sold were located in Palm Beach Point. Most of the land parcels consist of 5 acre lots. These lots have no improvements. You can build an estate equestrian farm in Palm Beach Point with a barn, paddocks and dressage rings.
The top sale for a 5 acre land parcel was located in Palm Beach Point and sold for $695,000. It is located at 15565 Palma Lane.
The second top sale for land in the Wellington equestrian area was sold for $567,000 and it was also located in Palm Beach Point.
In fact, out of the 11 sales that sold and closed last year in Wellington Equestrian areas- 6 of the sales were located in Palm Beach Point. To see what is going on in Palm Beach Point see our Palm Beach Point market report for Wellington Equestrian farms and single family estate homes.
On vacant land parcel sold in Saddle Trail, one in Southfields and one in the Equestrian Club Estates.