February 2016 – Wilton Manors Homes and Condos for Sale

Wilton Manors Real Estate by the Numbers !

Jenada Isles
Wilton Manors Middle River

At the end of February there were a total of 151 Wilton Manors Homes and Condos for Sale in the Wilton Manors Real Estate market. Of the Properties for Sale in Wilton Manors, 78 were Wilton Manors Single family homes and 73 Wilton Manors Condos and Townhomes for Sale. According to the Fort Lauderdale MLS, which reports MLS statistics for Wilton Manors, 13 Wilton Manors Single Family Homes sold in the last 30 days, leaving us a six month supply of homes in the City of Wilton Manors for Sale. During the same 30 day period there were only 7 condo sales making for almost a 10 month supply of Wilton Manors Condos for Sale.

 Wilton Manors Real Estate Prices  Continue to Rise !

Over the last year real estate prices in the City of Wilton Manors have raised an average of 8.5% in the city which is certainly an unsustainable increase. At the same time inventory continued to decrease but this a trend that we are starting to see reverse. In the last month inventory in the city has risen almost 10%. More than in most markets we analyze this is a tale of two different markets.

 Wilton Manors Condos for Sale – A different story !

The single family home market in the city continues to see price increases and inventory shrinking, creating a seller’s market. Last month inventory decreased 1.4%, a continuing decrease in inventory will sooner or later lead to a reduction in sales activity simply because there is little left for buyers to select from. At the same time the condo market saw inventory rise 25% percent. I don’t want to spell gloom and doom but historically in South Florida it is the condo market which leads the market towards its future direction. From the same quarter a year ago to today sales of Wilton Manors Condos have dropped over 26%. One quarter does not create a market but if you are thinking of buying or selling in Wilton Manors making an appointment with the real estate team at Eric Miller and Associates Keller Williams will help you make your decisions with the latest information. We are always here to help !

 

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