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Elliman Report: Wellington Sales 2Q 2017
Wellington sales were held back by declining inventory. There were 566 single family listings, down 10.7% and 301 sales, down 8% respectively from the year ago levels. A similar pattern was observed in the condo market, with 138 listings, a 6.1% decline, and 54 sales, a 21.7% decline. As a result, the pace of the market showed a modest year over year change from its current absorption rates, defined as the number of months to sell all listing inventory at the current rate of sales. The absorption rate for single family was 5.6 months and for condos it was 7.7 months…
