Galt Ocean Mile
Condos Sales Update
In this post we review recent sales of Galt Ocean Mile condos over the last 6 months and I share my thoughts on these statistics.
Key Sales Statistics
for Buyers / Sellers
- 134 Units Sold over the Last 6 Months
- Sales Prices from $120,000 – $5,050,000
Median Sales Prices
- Sales Price last 6 Months $420,000 – up from our last 2 posts!
-2 Bedroom 2 Bathroom Unit - Sales Price to Sq Foot Price $308.00
- Sales Price to List Price 95%
- Days on Market 72 Days
Important to note:
Sales have been strong over the last 5 Months!
Median sales prices for Galt Ocean Mile condos sold over the last 6 months are up again this month!
Search Galt Ocean Mile Condos for Sale
In this post we cover median sales prices by bedroom, list price to sales price as well as days on market.
Galt Ocean Mile
Prices by Bedroom
Our market summary report(s) for sales of Galt Ocean Mile condos over the last 6 months by bedroom.
| BEDS / BATHS | LA | SP$ | SP$/SqFt |
| 0 / 1 | 330 | $175,000 | $574.00 |
| 1 / 1 | 1050 | $283,750 | $286.00 |
| 2 / 2 | 1649 | $450,000 | $290.00 |
| 3 / 2 | 2150 | $928,000 | $430.00 |
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 $175,000 – this being for a unit of 330 square feet with a sales price to square foot price of $574.00 – In our last post the median sales price for a studio unit was higher at $198,750 – this being for a unit of 345 square feet with a sales price to square foot price of $530.00
- Galt Ocean Mile 1 bedroom unit sold over the last 6 months has been $283,750 – this being for a 1 bedroom 1 bathroom unit of 1050 square feet with a sales price to square foot price of $286.00 – In our last post the median sales price for a 1 bedroom unit was the same at $283,750 – this being for a 1 bedroom 1 bathroom unit of 1063 square feet with a sales price to square foot price of $284.00
- Galt Ocean Mile 2 bedroom unit sold over the last 6 months has been $450,000 – this being for a 2 bedroom 2 bathroom unit of 1649 square feet with a sales price to square foot price of $290.00 – In our last post the median sales price for a 2 bedroom unit was the same at $450,000 – this being for a 2 bedroom 2 bathroom unit of 1647 square feet with a sales price to square foot price of $291.00
- Galt Ocean Mile 3 bedroom unit sold over the last 6 months has been $928,000 – this being for a 3 bedroom 2 bathroom unit of 2150 square feet with a sales price to square foot price of $430.00 – In our last post the median sales price for a 3 bedroom unit was higher at $939,000 – this being for a 3 bedroom 2 bathroom unit of 2309 square feet with a sales price to square foot price of $434.00
Galt Ocean Mile
Condo Sales
There have been 134 sales of Galt Ocean Mile condos in Fort Lauderdale over the last 6 months to the end of March 2018
We can from the graph above and the table below the monthly volume of sales for Galt Ocean Mile condos / Oceanfront condos in Zip 33308!
| Month | 2018 |
| October 2017 | 15 |
| November 2017 | 22 |
| December 2017 | 23 |
| January 2018 | 22 |
| February 2018 | 26 |
| March 2018 | 26 |
| TOTAL | 134 |
Again it is important to note that while the sales for the 6 months were well down in September and October 2017 with 15 sales in each of these months.
Sales for the months from November to March have been strong!
Galt Ocean Mile
Condo Sales Data
Our market analysis report showing the MLS sales data for the 134 Galt Ocean Mile condos sold over the last 6 months is presented below:
| BEDS / BATHS | LA | SP$ | |
| Min | 0 / 1 | 330 | $120,000 |
| Max | 4 / 5 | 4299 | $5,050.000 |
| Avg | 2 / 2 | 1515 | $567,090 |
| Median | 2 / 2 | 1514 | $420,000 |
We can see from this report that the median sales price over the last 6 months has been $420,000 – this being for a 2 bedroom 2 bathroom unit of 1514 square feet – up from our last 2 posts!
In our last post on Galt Ocean Mile condos sold over the last 6 months the the median sales price over the prior 6 months was $415,000 – this being for a 2 bedroom 2 bathroom unit of 1514 square feet
In our prior post on Galt Ocean Mile condos sold over the last 6 months the the median sales price over the prior 6 months was $405,000 – this being for a 2 bedroom 2 bathroom unit of 1435 square feet
Square Foot Prices
Condos Sold
Here is our market summary report showing square foot prices paid for Galt Ocean Mile condos / Zip 33308 oceanfront condos sold here in Fort Lauderdale over the last 6 months.
| SP$/SqFt | |
| Min | $150.00 |
| Max | $1175.00 |
| Avg | $349.00 |
| Median | $308.00 |
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 $308.00 per square foot
The median is up ever so slightly from our last post when the median was $307.00!
% Sales to List Price
An important real estate indicator is how much buyers are paying for Galt Ocean Mile condos based on sales price to list price!
The market analysis report for this is presented below
| SP$/LP$ | |
| Min | 69% |
| Max | 110% |
| 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 3 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 | 982 |
| Avg | 116 |
| Median | 72 |
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 116 days or just under 4 months – the same as in our last post!
More importantly is the median days on market at 72 days or just over 10 weeks – which is down from 78 days in our last post!
Days on market is the time from when the condo was listed for sale till the condo sold AND closed.
My Thoughts / Summary
It is great to see a strong level of sales volume for Galt Ocean Mile condos sold over the last 5 months – well up from Sept and Oct 2017.
It is also great to see median prices back on the rise – after a period of softening prices!
I hope you enjoyed this post on Galt Ocean Mile Condos for Sale – Kevin Wirth Realtor
Read our last post of Galt Ocean Mile Condo Sales