Pending Sales Strong with
40 Single Family Homes Under Contract
The number of Wilton Manors Homes Pending Sale is strong with 40 homes currently under contract.
Important to note is that the median days on market for these homes was just 39 days – or just over 5 weeks from the date of listing till the date the home went “pending” sale.
Also important to note is the for the 59 Wilton Manors homes currently for sale the median days on market is just 37.5 days.
In this post we discuss the importance of these two measures of the strength of Wilton Manors Real Estate and why these numbers are super important to both buyers and sellers alike!
Wilton Manors Homes
Pending Sales Report
Here is the market analysis report for the 40 homes currently pending sale here in Wilton Manors.
We can see from this report that the median days on market is very strong at just 39 days or just over 5 weeks.
The median is based on a 3 bedroom 2 bathroom home of 1591 square feet with a list price to square foot price of $202.00
Wilton Manors Homes Currently for Sale
Here is the market analysis report for the 59 Wilton Manors Homes currently for sale.
We can see from this report that the median DoM or Days on Market is also strong at just 37 days – again just over 5 weeks!
The median is for homes for sale is also based on a 3 bedroom 2 bathroom home – a home of 1725 square feet with a list price to square foot price of $238.00
Wilton Manors Homes Pending Sale
Distressed Sales / Average Sale Data
Of the 40 homes pending sale here in Wilton Manors 16 homes are distressed sales – either REOs or Short Sales.
If we remove these distressed sales we get a more accurate picture of the average days on market – we can see this in the report below.
These two sets of data give us a much more accurate picture of what is happening right now for Wilton Manors Real Estate.
We can see the pricing range that buyers are opting for which is for 3/2 homes priced between $349,000 and $361,887 – with a list price to square foot price of between $215.00 to $218.00.
More importantly we can see that the average days on market is very close to the median days on market at 46 vs 39 respectively.
These numbers are important to both buyers and sellers of Wilton Manors Real Estate as they set very clear terms of where our market is in terms of:
a) Pricing at $215.00 – $218.00 per square foot – and also…
b) Days on Market at 5 Weeks or Less
Sellers when pricing a home for sale needs to realistically assess their homes in terms of these numbers and any premium pricing strategy needs to be justified and then clearly conveyed in terms of marketing a home for sale.
Buyers can use these numbers to assess how quickly they need to move if they find a home(s) they like – they can also use the square foot numbers when calculating an offer.
Importantly for Buyers the DOM (Days on Market) also allows them to assess homes that have become “stale” and are sitting on the market.