February / March Pricing Guide
There are 60 x Wilton Manors Condos for Sale here in Ft Lauderdale Florida – up from 53 condos for sale just last month!
Important to note is the variance in median prices across the neighbourhoods from $84,900 to $349,900 – a variance of $265,000!
Median prices for: 1 bedroom units are$115,000, 2 bedroom units are $179,900 and 3 bedroom units $495,000.
In this post we review condos / town homes for sale, provide a pricing guide and outline prices for condos by neighborhood – covering East, Central and West Wilton Manors
Wilton Manors Condos for Sale
Market Analysis Report
Here is the market analysis report for Wilton Manors Condos for Sale for February / March 2015
We can see from this report that the average price for a Wilton Manors Condo for sale is $246,137 and the median price is $192,450 – which are both up from our last post in Jan 2015.
In our last post the average price for a Wilton Manors Condo for sale was $223,410 and the median price was $175,000
In both posts average and median prices were based on 2 bedroom units.
Wilton Manors Condos / Town Homes Pricing Guide
Here is our pricing guide for condos / town homes for sale.
|$149,999 or under||20|
|$150,000 – $199,999||11|
|$200,000 – $249,999||4|
|$250,000 – $299,999||7|
|$300,000 – $349,999||3|
|$350,000 – $399,999||7|
|$400,000 – $449,999||2|
|$450,000 – $499,999||2|
|$500,000 – $549,999||3|
|$550,000 – $599,999||0|
|$600,000 – $699,999||1|
We can see from this guide the inventory of condos / town homes are for sale in each price range.
Important to note is that the largest inventory of Wilton Manors condos for sale is in the under $149,999 price range with 20 condos for sale.
These 20 units represent 1/3rd of all Wilton Manors condos for sale! Having so many units for sale priced under $150,000 gives buyers a great range of choices at affordable prices.
Wilton Manors Condos Town Homes for Sale Median Prices by Bedroom
I am often asked for a guide on prices for Wilton Manors condos for sale by bedroom.
Here are the median prices based on units currently for sale.
We can see from this report that:
- The median price for a 1 bedroom 1 bathroom unit is $115,000 – this being for a unit of 750 square feet with a list price to square foot price of $160.00
Important to note is that in our December 2014 report the median price for a 1 bed / 1 bath unit was $102,500 – this being for a unit of 750 square feet with a list price to square foot price of $153.00
- The median price for a 2 bedroom 2 bathroom unit is $179,900 – this being for a unit of 1200 square feet with a list price to square foot price of $205.00
- The median price for a 3 bedroom 2 bathroom unit is $495,000
– this being for a unit of 1977 square feet with a list price to square foot price of $210.00
In our last post in Jan – the median for a 3 bedroom unit was $419,000.
Wilton Manors Condos / Town Homes for Sale Median Prices by Neighbourhoods
Wilton Manors has 3 distinct neighborhoods – East Wilton Manors, Central Wilton Manors and West Wilton Manors.
Real Estate prices including condos and town homes vary dramatically across these neighborhoods.
The market analysis report for Wilton Manors condos for sale is presented below.
We can see from the report above:
- The median price for a condo/town home in West Wilton Manors is $84,900 – this being for a 2/1 unit of 925 sq ft with a list price to square foot price of $78.00
- The median price for a condo/town home in Central Wilton Manors is $171,700 – this also being for a 2/2 unit of 1180 sq ft with a list price to square foot price of $175.00
- The median price for a condo/town home in East Wilton Manors is $329,900 – this being for a 2/2 unit of 1295 sq ft with a list price to square foot price of $231.00
Importantly we can see how median prices vary by well over $265,000 across our 3 neighborhoods.
My Thoughts / Summary
Here in Wilton Manors we are seeing a continual decline in the number of condos for sale – the opposite is true of homes for sale – where we have some what of an “oversupply” based on the numbers of homes for sale.
Based on the current inventory of 60 units for sale and sales over the last 6 months – I equate we have just under 4 months supply of condos / town homes.
This is an under supply of units for sale and means for sellers of condos – it is indeed a sellers market!
This “sellers market” is reflected in:
- How quickly “good stock” of condos for sale is moving – with the median days on market for sales taking place over the last 60 days being just 40 days – or just under 6 weeks – this is from the time of listing till closing.
- The strong sales price to list price percentage – which is running at a median of 95% of list price.
- The number of units currently pending sale at 29 condos / town homes – the number of pending sales is always an important sign of what the market is doing – right now!
- I continue to see an under supply of units for sale in some of the most popular condominiums including Wilton Station
- While the number of units for sale in Manor Grove remains higher than we would expect – a reflection of recent distressed inventory being placed up for sale – and there are still some great deals to be had in this popular complex!
Overall however – there is little new construction in condos so I am expecting with declining supply that prices will continue there upward climb.
So if your looking at Wilton Manors condos for sale – now is truly a great time to buy!
I hope you have enjoyed reading my post on Wilton Manors Condos for sale for February / March 2015 – By Kevin Wirth Realtor