Wellington, FL Homeowner’s “Ride the housing market roller coaster”

The Wellington housing market is like a roller coaster you tend to find at your favorite theme park.  Think back to 2004 to 2006…”pre-bubble” Wellington homeowner’s values were climbing at record levels. Many thought that levels would never come down…Today, you hear similar comments, but only the opposite when homeowner’s say “that our home prices may never come back up to those levels”.  Well, the good news in some instances nationally (as seen in the graphic below) we are already 1/3 back.  Wellington’s home inventory is at its lowest level in years and demand for homes continues to climb up locally.  Buyer’s in today’s market commonly find themselves in bidding wars and paying above asking price and even at times paying above appraised values.  This is all a direct effect of lack of finance-able housing supply in the Wellington housing market.  Now, I am not claiming that our market is “booming” once again, but we are seeing a shift back to a middle ground of an “aggressive buyer’s market” or what some may refer to a balanced market.  A buyer in today’s housing market has to be aggressive in there offers, if they are going to get the house they want.  Otherwise, they are going to get outbid by someone else willing to pay market value for the house.  The Wellington home buying market is extremely competitive. 

Below are the 3 types of real estate markets and the months of housing inventory that are used to classify each:

  1. A Buyer’s Market (contains more than 7 months of inventory)
  2. Balanced Market (contains from 5 to 7 months of inventory) **typically, occur during transition between markets and rarely last for long time.**
  3. Seller’s Market (contains less than 5 months of inventory)

The graph below contains Wellington’s inventory supply, since the 4th quarter of 2009.  As you can see in the graph below the Green Bars represent the # of month’s of inventory and the Blue line represent the # of active listings.  Notice the major shift, since the first quarter of 2012 in the months of inventory on the market.  A sharp contrast to the days of high inventory and slow demand.

wellington real estate inventory graph

Similar to a roller coaster, the housing market comes with “ups and downs” and “twist and turns”.  We have learned from previous real estate markets shifts that with each transition in the real estate market the local markets housing market typically outpace the national housing market trends.  During the last major housing market swing that we observed in the mid 1990’s which was a shift from a buyer’s market to a seller’s market it took more than four years.  The shift back took about only took three years.

Now, is the time to BUY in Wellington!  There is great opportunity with today’s historically low interest rates and discounted home values. 

Thinking of selling your Wellington home?  If you are interested to learn your current home value, click here.

Click here NOW, to start your home search and discover great deals in Wellington’s housing Market!

 

Check out the below graphic that puts an interesting visual to where we are currently in the Real Estate housing market nationally. 

 

real estate recovery
Riding the Trillion-Dollar Real Estate Recovery Roller Coaster.

Leave a Reply