Category Archives: News Reports

Market Update Condos – Feb 2017

Wilton Manors Condos for Sale
Market Update – Feb 2017

Here is my February 2017 market update for Wilton Manors Condos for Sale – Kevin Wirth Realtor

Key Real Estate Facts
  • Larger than normal Inventory of Wilton Manors Condos for Sale fluctuating between  80-90 Condos for Sale
    – Prices range from $75,000 to $580,000
    – Median List Price $189,950
    Nearly 1 out of every 2 condos for sale has lowered their price!
    (there have been over 40 price adjustments)
    – Currently we have 6.5 Months of Supply
  • Strong Pending Sales -Averaging 30 Condos
    – Median Days on Market – 80 Days
  • Strong Sales Last 6 Months 73 Condos Sold
    (period 8/10/2016 – 2/10/2017)
    – Median Sales Price $159,900
    – Median Days on Market – 70 Days
    – Median Sales Price to List Price – 94%
    – Highest Volume of Sales Activity under $149,999

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S/East Wilton Manors Waterfront Homes

South East Wilton Manors
Waterfront Homes

Median sales prices for South East Wilton Manors Waterfront Homes have more than doubled since 2011.

Median Sales Prices for South East Wilton Manors Waterfront Homes increased by $95,000 or 16.5% last year!

South East Wilton Manors Waterfront Homes command a significant premium over all over Wilton Manors waterfront homes!

Key Factors

2016 Sales Prices ranged from $450,000 to $1,050,000

Median Sales Data for 2016

Sales Price $670,000
– 3 bedroom 2 bathroom Waterfront Home

Days on Market 83 Days
Sales Price to Square Foot Price $317.00
Sales Price to List Price 96%

Data is based on MLS statistics / comparables – however this does not include FSBO’s / Home Sold by Owners.

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Foreclosures still impacting Wilton Manors Real Estate

Wilton Manors Real Estate is still feeling the effects of the “Foreclosure Crisis” as both single family homes and condos in foreclosure continue to be offered up for sale.

Buyers are “snapping up” foreclosures and sales prices are reflecting the strong level of demand for both homes and condos …

  • Wilton Manors homes sold in foreclosure have been selling for slightly below list price with a median sales price of $296,625
  • Wilton Manors condos sold in foreclosure have been selling for above list price with a median sales price of $115,000.

Foreclosures in surrounding neighborhoods are also attracting buyers…

We are seeing a lot of foreclosure activity especially in neighborhoods next to Wilton Manors including: Lauderdale Lakes, South Middle River and Middle River Terrace.

And then to a lesser degree in Oakland Park.

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Foreclosures Impact Wilton Manors Real Estate

Chart Showing Foreclosures in Florida that will impact Wilton Manors Real Estate

Foreclosure / Pre-foreclosure Activity
Still Strong in Florida

Foreclosures and pre-foreclosures are still impacting Florida Real Estate including both Wilton Manors Homes and Condos for sale and the number of Fannie May and Freddie Mac “pending” foreclosures are at levels above those seen in 2010!

Sections of Wilton Manors Real Estate  – especially East Wilton Manors appear lest likely to be impacted – while foreclosure homes and condos are still pending release in both Central and West Wilton Manors!

Neighborhoods outside Wilton Manors will see a much greater impact – over the short-term which will suppress prices for Real Estate across the board – making now a great time to buy!

In this New Report for Nov/Dec 2014 we review both Foreclosure and Pre-Foreclosure activity in both Fort Lauderdale and Wilton Manors

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