View of Manor Grove pool in Wilton Manors FL

Manor Grove Condos – Prices Softening

Manor Grove Condos Wilton Manors
Units for Sale from $79K to $209K

Search Manor Grove Condos for Sale

There are currently 20 x Manor Grove Condos Wilton Manors for sale – this is one of the largest inventories of condos for sale in this complex we have seen for some time.

Prices range from $79,000 for a 1 bedroom/1 bathroom unit to $209,000 for a 2 bedroom 2 bathroom unit. 

The median price for all units for is currently $134,205 – this being for a 2 bedroom 1 bathroom unit.

Important to note however is that with so many units for sale – prices are softening – and nearly 50% of all the units listed for sale have lowered their prices! 

Now is a great time to be a Buyer!!

Manor Grove Condos / Town Homes
Market Analysis Report – Units for Sale

There are currently 20 units for sale here in Manor Grove.

The market analysis report for these condos / town homes is presented below.

Pricing #Beds #FBaths SF/FF List Price LP$/SqFt
High 2 2 1,200 $209,000 $172
Low 1 1 750 $75,000 $100
Average 1 1 971 $132,835 $132
Median 2 1 990 $134,250 $131

 

We can see from this report that the average price for a unit here in Manor Grove is $132,835 and the median price is $134,250.

The average price is based on a 1 bedroom 1 bathroom unit of 971 square feet and the median price is based on a 2 bedroom 1 bathroom unit of 990 square feet.

Important to note are the list price to square foot prices at $131.00 and $132.00

View of the ppol at Manor Grove here in Wilton Manors

Manor Grove Condos Wilton Manors
New Condo / Town Homes Listings

There have been 7 new listings  – the market analysis report for these units is presented below.

Pricing #Beds #FBaths SF/FF List Price LP$/SqFt Days on Market
High 2 2 1,180 $209,000 $172 0
Low 1 1 750 $79,000 $105 0
Average 1 1 922 $144,757 $137 0
Median 2 1 750 $150,800 $128 0

 

We can see from this report that the average price for a new listing here in Manor Grove is $144,757 and the median price is $150,800.

The average price is based on a 1 bedroom 1 bathroom unit of 922 square feet and the median price is based on a 2 bedroom 1 bathroom unit of 750 square feet.

Manor Grove Condos
Pricing Guide

Here is our pricing guide showing the break down of Manor Grove condos for sale by price range.

Price Range Quantity
$149,999 or under 13
$150,000 – $199,999 6
$200,000 – $249,999 1
$1,000,000 or over 0
Total 20

 

We can see from this report that the largest inventory of Wilton Manors condos for sale here in Manor Grove are condo units priced under $149,999 – with 13 units for sale.

We can see the breakdown of unit pricing by bedroom below

View of an entrance to Manor Grove

Manor Grove 1 Bedroom Condos for Sale

 There are currently 9 x 1 bedroom Manor Grove Condos Wilton Manors for sale.

The market analysis report for these units is presented below.

CondoPricing #Beds #FBaths SF/FF List Price LP$/SqFt
HighUnit209E 1 1 800 $129,000 $172
LowUnit101H 1 1 750 $75,000 $100
Average 1 1 756 $98,244 $131
Median 1 1 750 $90,000 $128

 

We can see from this report that the median price for a 1 bedroom condo for sale in Manor Grove is $90,000 – this being for a 1 bedroom 1 bathroom unit of 750 square feet.

Manor Grove 2 Bedroom Condos for Sale

There are currently 11 x 2 bedroom Manor Grove Condos Wilton Manors for sale.

The market analysis report for these units is presented below.

CondoPricing #Beds #FBaths SF/FF List Price LP$/SqFt
HighUnit104i 2 2 1,200 $209,000 $159
LowUnit105A 2 1 1,180 $129,000 $109
Average 2 2 1,187 $161,136 $132
Median 2 2 1,180 $159,900 $131

 

We can see from this report that the median price for a 2 bedroom condo for sale in Manor Grove is $159,000 – this being for a 2 bedroom 2 bathroom unit of 1180 square feet.

Kevin Wirth realtor

My Thoughts / Summary
Manor Grove – Prices Softening

What is important to note in my opinion is the following:

  • There are 20 units for sale – in the last 12 months 44 units were sold so we have close to a six month supply if no more units are listed for sale – which is a lot of units for sale!
  • Median list prices are above recent sales prices in many cases…
    For example:
    Based on all sales over the last 12 months the median sales price was $106,000 – this being for a 1 bedroom unit.
    Over the last 6 months the median sales price for the 10 x 1 bedroom units sold has been $90,500
    T
    he current list price for the 9 x 1 bedroom units for sale is $90,000 and units typically sell for around 93.46% of list price (based on the 10 x 1 bedroom sales over the last 6 months) – which if applied to the median of $90,000 would be a median sales price of $84,114.

The dilemma of what I think is an “over-supply” of Manor Grove condos for sale is also reflected in the fact the nearly 50% of all units listed for sale have already had price reductions.

What I think will also further impact many sellers is the sales data as presented above will make it difficult for units to “comp” or justify their list price if potential buyers need a mortgage to purchase…. as banks use comps or recent comparative sales when determining how much they will loan on a property…  

I hope you have enjoyed my post on Manor Grove condos Wilton Manors  – by Kevin Wirth Realtor