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Elliman Report: Wellington Sales 3Q 2017
Wellington continued to see a shift in the mix to smaller sized sales as inventory restrained transactions. Listing inventory for condos fell 25.5% to 108 and listing inventory for single families declined 11.7% to 551 respectively from the year- ago quarter. Like many South Florida markets in the third quarter, the condo market outperformed the single-family market. Condo sales jumped 21.9% to 89 while single-family sales declined 24% to 241 respectively from the same quarter last year. The difference in market pace by property type was evident. The absorption rate, defined as the…
