View of Galt Ocean Mile condo here in Fort Lauderdale FL

Galt Ocean Mile Condos Sales April – Sept 2018

Galt Ocean Mile
Condos Sales Update

In this our October 2018 post we review recent sales of Galt Ocean Mile condos over the last 6 months (1st of April 2018 to 30th September 2018) and I share my thoughts on these statistics.

Key Sales Statistics
for Buyers / Sellers

  • 161 Units Sold over the Last 6 Months
  • Sales Prices from $149,000 – $4,250,000

Median Sales Prices

  • Sales Price last 6 Months $475,000 – up over our last 4 posts
    -2 Bedroom 2 Bathroom Unit
  • Sales Price to Sq Foot Price $334.00
  • Sales Price to List Price 95%
  • Days on Market 76 Days

Important to note:

Sales have been strong over the last 6 Months – with April 2018 & August 2018 having the highest number of sales!

Median sales prices for Galt Ocean Mile condos sold over the last 6 months continue to rise!

Search Galt Ocean Mile Condos for Sale

In this post we cover median sales prices by bedroom, list price to sales price as well as days on market.

View 2 bedroom Galt Ocean Mile condo recently sold The Commodore Fort Lauderdale
View 2 bedroom Galt Ocean Mile condo recently sold The Commodore Fort Lauderdale

Galt Ocean Mile
Prices by Bedroom

Our market summary report(s) for sales of Galt Ocean Mile condos over the last 6 months by bedroom.

BEDS / BATHS LA SP$ SP$/SqFt
0 / 1 467 $215,000 $373.00
1 / 1 1088 $298,000 $282.00
2 / 2 1538 $493,500 $334.00
3 / 2 2210 $750,000 $380.00

We can see from this report that the median sales price for a:

  • Galt Ocean Mile studio unit sold over the last 6 months has been $215,000 – this being for a unit of 467 square feet with a sales price to square foot price of $373.00 – In our last post the median sales price for a studio unit was the same at $215,000 – this being for a unit of 467 square feet with a sales price to square foot price of $373.00
  • Galt Ocean Mile 1 bedroom unit sold over the last 6 months has been $298,000 – this being for a 1 bedroom 1 bathroom unit of 1088 square feet with a sales price to square foot price of $282.00 – In our last post the median sales price for a 1 bedroom unit was slightly less at $296,000 – this being for a 1 bedroom 1 bathroom unit of 1088 square feet with a sales price to square foot price of $282.00
  • Galt Ocean Mile 2 bedroom unit sold over the last 6 months has been $493,500 – this being for a 2 bedroom 2 bathroom unit of 1538 square feet with a sales price to square foot price of $334.00 – In our last post the median sales price for a 2 bedroom unit was higher at $500,000 – this being for a 2 bedroom 2 bathroom unit of 1540 square feet with a sales price to square foot price of $337.00
  • Galt Ocean Mile 3 bedroom unit sold over the last 6 months has been $750,000this being for a 3 bedroom 2 bathroom unit of 2210 square feet with a sales price to square foot price of $380.00 – In our last post the median sales price for a 3 bedroom unit was much higher at $880,000 – this being for a 3 bedroom 2 bathroom unit of 2145 square feet with a sales price to square foot price of $410.00
Galt Ocean Mile condo sales April 2018 - September 2018
Galt Ocean Mile condo sales by units last 6 Months – April 2018 – September 2018

Galt Ocean Mile
Condo Sales

There have been 161 sales of Galt Ocean Mile condos in Fort Lauderdale over the last 6 months to the end of September 2018!

In our last post when there had been 169 sales of Galt Ocean Mile condos over the preceding month and in our prior post there had been 161 sales!

We can from the graph above and the table below the monthly volume of sales for Galt Ocean Mile condos / Oceanfront condos in Zip 33308!

Month Sales, Number of
Apr 2018 32
May 2018 28
Jun 2018 29
Jul 2018 22
Aug 2018 32
Sep 2018 18
TOTAL

Data MLS October 2018
161

Again it is important to note that that sales have been strong over the last 6 months – peaking in April 2018 and again in August 2018 with 32 units sold in each of these two months!

Sales fell in September which is typical of this time of year and reflects the “Seasonality” of the Galt Ocean Mile Market!

View Galt Ocean Mile condo recently sold in Southpoint Fort Lauderdale
Look at the super views from this Galt Ocean Mile condo recently sold here in Southpoint!

Galt Ocean Mile
Condo Sales Data

Our market analysis report showing the MLS sales data for the 161 Galt Ocean Mile condos sold over the last 6 months is presented below:

BEDS / BATHS LA SP$
Min 0 / 1 320 $149,000
Max 5 / 4 4938 $4,250,000
Avg 2 / 2 1552 $563,201
Median 2 / 2 1500 $475,000

We can see from this report that the median sales price over the last 6 months has been $475,000 – this being for a 2 bedroom 2 bathroom unit of 1500 square feet

It is important to note that median prices are on the rise – up each post over our last 4 posts!

There has been a $55,000 increase in median prices for Galt Ocean Mile condos sold during these 4 posts!

View Galt Ocean Mile condos Fort Lauderdale Florida
Aerial view of Galt Ocean Mile condos here in Fort Lauderdale Florida

Square Foot Prices
Condos Sold

Here is our market summary report showing square foot prices paid for Galt Ocean Mile condos / Zip 33308 oceanfront condos sold here in Fort Lauderdale over the last 6 months.

SP$/SqFt
Min $198.00
Max $958.00
Avg $351.00
Median $334.00

We can see from this report that the median sales price to square foot price paid for a Galt Ocean Mile condo sold over the last 6 months has been $334.00 per square foot – down from a median of $336.00 per square foot in our last post!

Again it is important to note that the median is well up from earlier this year when the median was $308.00 per square foot!

% Sales to List Price

An important real estate indicator is how much buyers are paying for Galt Ocean Mile condos based on sales price to list price!

The market analysis report for this is presented below

SP$/LP$
Min 81%
Max 108%
Avg 94%
Median 95%

We can see from this report that the median sales price to list price for a Galt Ocean Mile condos sold  over the last 6 months has been 95%

It is important to note that the median is the same as in our last 7 posts!

This means if a Fort Lauderdale condo for sale here on Galt Ocean Mile is listed at $450,000 – then based on median sales data the condo would sell for 95% of that amount or $427,500.

Days on Market

Days on market for Galt Ocean Mile Condos for Sale in is an important indicator on how strong demand is for Fort Lauderdale condos for sale in this prime direct oceanfront location.

Here is the market analysis report for Days on Market based on condo sales over the last 6 months.

DOM
Min 1
Max 1019
Avg 113
Median 76

We can see from this report that the average days on market for a Fort Lauderdale condo for Sale here on Galt Ocean Mile is 113 days or just under 4 months – this much the same as in our last 3 posts!

More importantly is the median days on market at 76 days or just under 11 weeks!

Days on market is the time from when the condo was listed for sale till the condo sold AND closed.

Kevin Wirth Realtor / Real Estate Agent

My Thoughts / Summary

It is great to have seen strong level of sales volume for Galt Ocean Mile condos sold over the last 6 months April 2018 – September 2018 – especially with 32 units sold / closed in August!

It is also great to see median prices continue to rise – now up to $475,000!

Another very good and positive indicator for Galt Ocean Mile condo sales is list price to sales price at 95% – the same as in our last 7 posts!!

I hope you enjoyed this report on Galt Ocean Mile Condos for Sale – Kevin Wirth P.A. Realtor

Read our last post of Galt Ocean Mile Condo Sales

This statistical report on comparable Luxury Galt Ocean Mile condos includes listing content from the MLS compilation and statistical MLS data – this data is not verified for authenticity or accuracy and may not reflect all real estate activity in the market.  This report is based on information which is the © 2018 Realtors of the Palm Beaches and Greater Fort Lauderdale Multiple Listing Service Inc.