July / August Pricing Guide
List Prices Soften in Most Neighborhoods
Wilton Manors Real Estate is broken into 3 main neighborhoods: East Wilton Manors, Central Wilton Manors and West Wilton Manors.
Each of these neighborhoods is distinctive and each has different pricing structures for both homes and condos / town homes.
|Neighborhood||Homes #Beds||Homes #FBaths||Homes List Price||Condos #Beds||Condos #FBaths||Condos List Price|
We can see from this report above how prices for Wilton Manors Real Estate for Sale vary across the different neighborhoods
In this post I look at prices – based on Wilton Manors Real Estate for sale and we also review pricing for homes and condos overall and by neighborhood.
Important to note are the recent pricing changes based on median prices for Wilton Manors Real Estate for Sale across the different neighborhoods
Pricing changes which range from -11% to 7.6%!
Wilton Manors Real Estate for Sale
Wilton Manors Real Estate Prices based on real estate currently for sale have really been on the move since our last report
Our market summary clearly shows this.
|Prices||Homes||Last Report||Homes %Change||Condos||Last Report||Condos % Change|
We can see from this report based on median prices for all of Wilton Manors that there has been:
a) a decrease of 2% for single family homes – from an increase of 6% as per our last report
b) a decrease of -3% for condos / town homes – from an decrease of 1% as per our last report
On top of these overall trends what is important to note are the pricing trends by individual neighborhoods.
We can see a slight softening across nearly all neighborhoods – for both single family homes and condos.
The largest decline in prices was for condos here in East Wilton Manors – while the highest price increase was for condos in West Wilton Manors.
Across the board single family home prices have softened with decreases from 1%-2%
While many real estate agents / realtors tend to think of Wilton Manors as one entity – we can clearly see from the report above the distinct difference of real estate pricing and pricing trends across different neighbourhoods.
Wilton Manors Real Estate for Sale
When looking at Wilton Manors Real Estate it also is useful to look to inventory levels.
The level of inventory or number of units for sale by price range gives us a good insight into the market – we can see where the most homes of condos for sale are priced.
Wilton Manors Homes Inventory Levels
Here are the inventory levels of homes for sale
|$149,999 or under||0|
|$150,000 – $199,999||0|
|$200,000 – $249,999||6|
|$250,000 – $299,999||9|
|$300,000 – $349,999||12|
|$350,000 – $399,999||11|
|$400,000 – $449,999||6|
|$450,000 – $499,999||5|
|$500,000 – $549,999||5|
|$550,000 – $599,999||3|
|$600,000 – $699,999||7|
|$700,000 – $799,999||1|
What is important to note is that our inventory of homes for sale has decreased slightly from 68 homes to 65 homes for sale.
What is also important to note is the high level of inventory for Wilton Manors Homes for sale priced from $300,000 – $399,999 – with 23 homes for sale or approx 35% of all homes for sale falling into this price range.
Wilton Manors Condos Inventory Levels
Here are the inventory levels of condos for sale
|$149,999 or under||19|
|$150,000 – $199,999||6|
|$200,000 – $249,999||2|
|$250,000 – $299,999||6|
|$300,000 – $349,999||3|
|$350,000 – $399,999||3|
|$400,000 – $449,999||1|
|$450,000 – $499,999||1|
|$500,000 – $549,999||2|
|$550,000 – $599,999||0|
|$600,000 – $699,999||1|
We can see from this report that the inventory of condos for sale is 44 units – this is down from a “typical norm” of around 60 units plus or minus.
Also important to note is that 19 of the 44 condos for sale or 43% of the inventory for sale is for condos priced under $149,999.
This large volume of “affordable” units is one of the major draw cards that continues to attract buyers into Wilton Manors
Tracking Prices for Wilton Manors Real Estate for Sale is an important guage on where both sellers AND realtors / real estate agents – “think” the market is heading.
An overall continuation of the softening of market prices while perhaps reflective of the market moving out of “season” is in my mind also reflective of an increase in the number of foreclosures (both condos and single family homes) being released onto the Wilton Manors Real Estate market.
These foreclosures while usually priced at close to market value still act to distort the market and it may be 12-24 months before all these foreclosures are finally “cleared”.
For buyers this creates a window of opportunity to purchase without the pressure of multiple bids or “bidding wars”!
More on Wilton Manors Neighborhoods
Wilton Manors also has Associations for each of the different neighborhoods – East, Central and West.
Here are the links to these Associations
These Associations work to develop each neighborhood and to keep each community/neighborhood informed and update on events that may affect them.
Associations have been proactive in neighborhood beautification, in lobbying for and discussions on planning the growth of the city of Wilton Manors and where resources should be invested.
Associations also hold community events: The West Wilton Manors neighborhood for example holds the Garlic and Wine Festival each year – which is a lot of fun!
I hope you have enjoyed my post on Wilton Manors Real Estate and Real Estate for Sale – by Kevin Wirth Realtor