Comparison inventory Wilton Manors Condos for Sale 2016 - 2017

Market Update Condos – July / August

Wilton Manors Condos
Inventory Down Over 50%

Welcome to my July / August 2017 market update for Wilton Manors Condos – which sees us at very low levels of inventorydown by over 50% from 2016.   – Kevin Wirth P.A. Realtor

Key Real Estate Facts
  • Low Inventory of Wilton Manors Condos for Sale
    fluctuating between  50-55 Condos for Sale
    – Prices range from $85,000 to $630,000
    – Median List Price $334,888
    300% drop in condos for sale priced under $149,999
    – Currently we have just over 3 Months of Supply
  • Strong Pending Sales -Averaging 25-30 Condos
    – Median Days on Market – 46 Days
  • Very Strong Sales Last 6 Months 97 Condos Sold
    – Median Sales Price $145,000
    – Median Days on Market – 61 Days
    – Median Sales Price to List Price – 96%

Wilton Manors Condos for Sale
Inventory Levels

We currently have a much lower inventory of Wilton Manors condos for sale – with just 51 condos for sale as at time of writing!

In prior posts the number of condos for sale had been fluctuating between 100 – 115 Wilton Manors condos for sale!

Our market analysis report for these condos is presented below

$$ BEDS/BATHS LA LP$
Min 1 / 1 500 $85,000
Max 3 / 3 2552 $630,000
Avg 2 / 2 1374 $306,724
Median 2 / 2 1287 $334,888

We can see from this report that the average price for a Wilton Manors condo for sale is $306,724 – this being for a 2 bedroom 2 bathroom condo of 1374 square feet with a list price to square foot price of $221.00

We can also see that the median list price for Wilton Manors condos for sale is $334,888 – this being for a 2 bedroom 2 bathroom 1287 square foot condo with a list price to square foot price of $231.00

In our last post the median list price for Wilton Manors condos for sale was $290,000 – this being for a 2 bedroom 2 bathroom 1180 square foot condo with a list price to square foot price of $210.00

In our prior post the median list price for Wilton Manors condos for sale was $189,950 – this being for a 2 bedroom 2 bathroom 1180 square foot condo with a list price to square foot price of $193.00

It is important to note that the decline in inventory of Wilton Manors condos for sale is leaving more higher priced units for sale – which is resulting in increased average and median prices!

Wilton Manors Condos for Sale
Inventory by Price

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

Price Range Quantity
Under $100,000 2
$100,000 – $149,999 8
$150,000 – $199,999 6
$200,000 – $249,000 0
$250,000 – $300,000 8
$300,000 – $399,999 15
$400,000 – $499,999 8
$500,000 Plus 4
Total 51

We can see from this report that the highest range of inventory of Wilton Manors condos for sale is for units priced between $300,000 and $399,999 – with 15 condos for sale in this price range.

It is very important to note is that there are just 10 x Wilton Manors condos for sale priced under $149,999 – this is down by a “HUGE” 300% from just a few months ago!

In our last post the highest inventory of Wilton Manors condos for sale was for condos priced under $149,999 with 17 condos for sale.

And in our prior post there were 30 X Wilton Manors condos for sale priced under $149,999!

Comparison inventory Wilton Manors Condos for Sale 2016 - 2017
Comparison of the level of Inventory of Wilton Manors Condos for Sale between 2016 – 2017

Wilton Manors Condos
Inventory of Condos for Sale

Here is our market summary report showing the inventory of Wilton Manors condos for sale – comparing units for sale in the first 6 months of 2016 to units for sale for the first 6 months of  2017.

MONTH 2016 2017
Jan 108 97
Feb 114 99
Mar 108 88
Apr 101 81
May 106 74
Jun 98 76

 

We can see from this report that inventory levels have dropped steadily from a high of 114 in Feb 2016 to 76 as recorded by the MLS for June 2017.

It is important to note that if we take the inventory of Wilton Manors condos currently for sale as at time of writing this post in July 2017 – which is 51 condos for sale, we can see this is now well down – down in most cases by over 50% from 2016 levels!

Wilton Manors Condos for Sale
Pending Sales

At the time of writing this report there are 27 Wilton Manors condos for Sale that are under contract and are pending sale

This is up from our last post when their were 22 x Wilton Manors condos pending sale!

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

$$ BEDS / BATHS LA LP$
Min 1 / 1 614 $65,000
Max 3 / 3 2317 $599,000
Avg 2 / 1 1050 $194,504
Median 1 / 1 887 $129,900

We can see from this report that the average price for a Wilton Manors condo pending sale is $194,504 and the median price is $129,900.

It is also very important to note the Median Days on Market for Wilton Manors condos pending sale at 46 days – which is well down from 100 Days as in our last post.!

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

Wilton Manors Conods for Sale
Sales Last 6 Months

We have had consistently strong sales of Wilton Manors condos for sale – over the last 6 Months there have been 97 condos sold!

This is up from 92 condos sold in our last post and is well up from 73 condos sold in the preceding 6 months as per our prior post!

Our market summary report for these condos is presented below.

$$ BEDS/BATHS LA SP$
Min 1 / 1 600 $52,000
Max 4 / 3 2908 $558,750
Avg 2 / 1 1089 $201,489
Median 2 / 1 1000 $145,000

We can see from this report that the average sales price for Wilton Manors condos sold over the last 6 months has been $201,489 – this being for a 2 bedroom 2 bathroom condo of 1089 square feet with a sales price to square foot price of $177.00

We can also see from this report that the median sales price for Wilton Manors condos sold over the last 6 months has been $145,000this being for a 2 bedroom 1 bathroom condo of 1000 square feet with a sales price to square foot price of $168.00

In our last post the median sales price for Wilton Manors condos sold over the preceding 6 months was $143,000 – this being for a 2 bedroom 1 bathroom condo of 1000 square feet with a sales price to square foot price of $172.00

Also important to note is that the:

  • Median Days on Market for Wilton Manors condos sold over the last 6 months has been 61 days
  • Median Sales Price to List Price has been 96%  – This means if a Wilton Manors condo for sale is listed for $150,000 then it could be expected to sell for 96% of list price or $144,000 

My Thoughts / Summary

The inventory of Wilton Manors condos for sale as dropped dramatically over the last few months down now by over 50% from 2016!

This is particularly evident for lower priced Wilton Manors condos for sale – especially units priced under $149,999 where the inventory of condos for sale is down 300% in just a few months!

Despite this drop in inventory there are still some very good options – even at lower prices!

But well priced condos are moving fast!

Kevin Wirth Realtor

I hope you have enjoyed our real estate update on Wilton Manors Condos for Sale

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