Kevin Wirth Realtor

Market Update – May / June

Wilton Manors Homes for Sale
Market Update – May / June 2017

Here is my May / June 2017 market update for Wilton Manors Homes for Sale – Kevin Wirth Realtor

Key Real Estate Facts
  • Large Inventory of Wilton Manors Homes for Sale
    fluctuating between 90-100 Homes for Sale
    – Prices range from $249,000 just under $1.9 Million
    – Median List Price $489,999
    Nearly 1 out of every 2 homes for sale has lowered their price!
    – Currently we have 6.5 Months of Supply
  • Strong Pending Sales – Averaging 30 Homes
    – Median Days on Market – 85 Days
  • Strong Sales Last 6 Months – 83 Homes Sold
    – Median Sales Price $427,000
    – Median Days on Market – 41 Days
    – Median Sales Price to List Price – 96%
    – Highest Volume of Sales Activity $300,000 – $349,999

Wilton Manors Homes for Sale
Inventory Levels

We currently have a large inventory of Wilton Manors Homes for Sale with homes for sale fluctuating between 90-100 Homes for Sale!

This higher level of inventory has been prevalent since late last year.

Typically we expect 70-80 Wilton Manors Homes for Sale

Our market analysis report for Wilton Manors homes for sale is presented below

 $$ Beds/Baths SF/FF List Price
High 7 / 6 4,300 $1,890,000
Low 2 / 1 868 $249,000
Avg 3 / 2 2,031 $535,088
Med 3 / 2 1,900 $489,999

We can see from this report that the average price for a Wilton Manors home for Sale is $535,088 – this being for a 3 bedroom 2 bathroom home of 2031 square feet with a list price to square foot price of $293.00

We can also see that the median list price for Wilton Manors homes for sale is $489,9999 – this being for a 3 bedroom 2 bathroom 1900 square foot home with a list price to square foot price of $281.00

It is important to note that in physically reviewing price changes or pricing adjustments for Wilton Manors Home for Sale we noted that – 48% of Wilton Manors homes currently for sale have lowered their price!

Wilton Manors Homes for Sale
Inventory by Price

Here is our market summary report showing a breakdown of Wilton Manors homes for sale by price range

Price Range Quantity
$200,000 – $249,999 1
$250,000 – $299,999 2
$300,000 – $349,999 6
$350,000 – $399,999 10
$400,000 – $449,999 14
$450,000 – $499,999 19
$500,000 – $549,999 9
$550,000 – $599,999 12
$600,000 – $699,999 8
$700,000 – $799,999 4
$800,000 – $899,999 1
$900,000 – $999,999 3
$1,000,000 or over 2
Total 91


We can see from this chart that the highest inventory of Wilton Manors homes for sale are homes priced between $450,000 – $499,999 with 19 homes for sale.

It is also important to note that there are still homes for sale here in Wilton Manors priced under $350,000 – with 9 homes for sale in this price range!

Wilton Manors Homes for Sale
Pending Sales

At the time of writing this report there are 24 Wilton Manors Homes for Sale that are under contract and are pending sale – this is up from 24 homes pending sale in our last market update!

Here is our market summary report for these Wilton Manors homes.

 $$ Beds/Baths SF/FF List Price
High 4 / 4 3,193 $899,900
Low 2 / 1 891 $227,000
Avg 3 / 2 1,986 $496,530
Med 3 / 2 2,047 $474,950

We can see from this report that the average price for a Wilton Manors home pending sale is $496,530 and the median price is $474,950.

We can see from this report the average price for a Wilton Manors home pending sale was $459,896 and the median price was $419,450.

It is also important to note that we currently have a strong level of Pending Sales – which has typically averaging 20 – 25 Homes

Also important to note is the Median Days on Market for Wilton Manors homes pending sale at 85 days – which is well up from 46 Days in our last post!

Days on market is the time from when the home was listed for sale till the home went pending.

Wilton Manors Homes for Sale
Sales Last 6 Months

We have had strong sales of Wilton Manors Homes over the last 6 Months with 83 Homes Sold! 

Our market summary report for these homes is presented below.

 $$ Beds/Baths SF/FF Sale Price
High 5 / 4 3,749 $870,000
Low 2 / 1 1,125 $245,500
Avg 3 / 2 1,881 $452,749
Med 3 / 2 1,743 $427,000

We can see from this report that the average sales price for Wilton Manors homes sold over the last 6 months has been $452,500 – this being for a 3 bedroom 2 bathroom home of 1881 square feet with a sales price to square foot price of $274.00

We can also see from this report that the median sales price for Wilton Manors homes sold over the last 6 months has been $427,000this being for a 3 bedroom 2 bathroom home of 1743 square feet with a sales price to square foot price of $275.00

Also important to note is that the

– Median Days on Market for Wilton Manors homes sold over the last 6 months has been just 41 Days

– Median Sales Price to List Price has been 96%

This means if a Wilton Manors home for sale is listed for $500,000 then it could be expected to sell for 96% of list price or $480,000 

Wilton Manors Home Sales
Inventory by Price

Here is our market summary report showing a breakdown of sales of Wilton Manors homes over the last 6 months by price range

We can see from this chart that:

Price Range Quantity
$200,000 – $249,999 1
$250,000 – $299,999 7
$300,000 – $349,999 16
$350,000 – $399,999 12
$400,000 – $449,999 10
$450,000 – $499,999 11
$500,000 – $549,999 8
$550,000 – $599,999 4
$600,000 – $699,999 7
$700,000 – $799,999 5
$800,000 – $899,999 2
$900,000 – $999,999 0
$1,000,000 or over 0
Total 83

We can see from this report that the highest Volume of Sales Activity has been for Wilton Manors homes selling in the $300,000 – $349,999 price range with 16 Wilton Manors homes sold.

It is important to note that in our last post the highest Volume of Sales Activity was for Wilton Manors homes selling in the $350,000 – $399,999 price range with 21 Wilton Manors homes sold.

My Thoughts / Summary

There is currently a great range of Wilton Manors Homes for Sale!

This high level of homes for sale is creating a buyers market – and sellers are responding to this by lowering prices. 

Data shows that nearly 1 in 2 home sellers have lowered their price – this was the same as in our last post!

Important to note however is that both pending sales and recent sales of Wilton Manors Homes remain strong with 83 sales over the last 6 months!

It is important to note that homes currently pending sale have been on the market for longer – around 85 days or just under 3 months!

In our last post home spending sale had been on the market for a median of just 46 days!

Another important factor is that of the 30 x Wilton Manors homes currently pending sale 18 homes or 60% of all the homes pending sale are pool homes!

Kevin Wirth Realtor

I hope you have enjoyed our February 2017 real estate update on Wilton Manors Homes for Sale

Kevin Wirth P.A. Realtor
954-459-0337