View of Galt Ocean Mile condo here in Fort Lauderdale FL

Galt Ocean Mile Condos Sales Data – January 2018

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

  • 115 Units Sold over the Last 6 Months
  • Sales Prices from $135,000 – $2,665,000

Median Sales Prices

  • Sales Price last 6 Months $405,000 – down from our last post!
    -2 Bedroom 2 Bathroom Unit
  • Sales Price to Sq Foot Price $310.00
  • Sales Price to List Price 95%
  • Days on Market 89 Days

Important to note:

Sales have been strong over the last 3 Months!

Median sales prices for Galt Ocean Mile condos sold have softened!

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 Fort Lauderdale Oceanfront Condo Recently Sold / Zip 33308
Look at the view from this 2 Bedroom Fort Lauderdale Oceanfront Condo Recently Sold

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 / 1 428 $228,750 $574.00
1 / 1 1076 $285,000 $286.00
2 / 2 1624 $455,000 $300.00
3 / 2 2280 $900,000 $376.00

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 $228,750 – this being for a unit of 428 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 lower at $202,500 – this being for a larger unit of 548 square feet with a lower sales price to square foot price of $365.00
  • Galt Ocean Mile 1 bedroom unit sold over the last 6 months has been $285,000 – this being for a 1 bedroom 1 bathroom unit of 1076 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 slightly lower at $283,750 – this being for a 1 bedroom 1 bathroom unit of 1048 square feet with the same sales price to square foot price of $286.00
  • Galt Ocean Mile 2 bedroom unit sold over the last 6 months has been $455,000 – this being for a 2 bedroom 2 bathroom unit of 2280 square feet with a sales price to square foot price of $300.00 – In our last post the median sales price for a 2 bedroom unit was $45,000 higher at $500,000 – this being for a smaller 2 bedroom 2 bathroom unit of 1575 square feet with a higher sales price to square foot price of $308.00
  • Galt Ocean Mile 3 bedroom unit sold over the last 6 months has been $900,000this being for a 3 bedroom 2 bathroom unit of 2280 square feet with a sales price to square foot price of $376.00 – In our last post the median sales price for a 3 bedroom unit was the same at $900,000 – this being for a 3 bedroom 2 bathroom unit of 2318 square feet with the same sales price to square foot price of $376.00
Number of Galt Ocean Mile / Zip 33308 Oceanfront Condos Sold Last 6 Months
Number of Galt Ocean Mile / Zip 33308 Oceanfront Condos Sold Last 6 Months 2017 / 2018

Galt Ocean Mile
Condo Sales

There have been 115 sales of Galt Ocean Mile condos in Fort Lauderdale over the last 6 months to the end of January 2018

This is down from our last post when there had been 135 sales of Galt Ocean Mile condos over the preceding 6 months  – or to the end of November 2017

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 Number of Sales
Aug 2017 20
Sep 2017 15
Oct 2017 15
Nov 2017 22
Dec 2017 22
Jan 2018 21
TOTAL 115

Again it is important to note that while the total sales for the 6 months were down in September and October 2017 – the sales for the months of November, December and January have been strong!

View 1 Bedroom Galt Ocean Mile condo recently sold - The Galleon Unit 1003
View 1 Bedroom Galt Ocean Mile condo recently sold – The Galleon Unit 1003

Galt Ocean Mile
Condo Sales Data

Our market analysis report showing the MLS sales data for the 115 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 / 4 3474 $3,350,000
Avg 2 / 2 1475 $536,815
Median 2 / 2 1435 $405,000

We can see from this report that the median sales price over the last 6 months has been $405,000 – this being for a 2 bedroom 2 bathroom unit of 1435 square feet – down from our last post!

In our November 2017 post on Galt Ocean Mile condos sold over the last 6 months the the median sales price over the prior 6 months was $440,000 – this being for a 2 bedroom 2 bathroom unit of 1450 square feet!

It is important to note that despite a drop in median sales prices for Galt Ocean Mile condos this month – prices for 2017 had been the rise!

Also important to note is the range of prices paid – from $120,000 to $3,350,000 for a luxury direct oceanfront unit – Unit 701 in Paramount!

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 $964.00
Avg $352.00
Median $310.00

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 $310.00 per square foot – down a little from our last post when the median was $314.00

Again it is important to note that median square foot sales prices in 2017 had been slowly moving up – in our last post for November 2017 median sales prices to square foot prices were up by over $30.00 per square foot from prior posts!

% 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 78%
Max 114%
Avg 95%
Median 95%

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

The median is the same as in our last post!

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 570
Avg 113
Median 89

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!

More importantly is the median days on market at 89 days – or just under 3 months!

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 see strong sales volume for Nov & Dec 2017 and Jan 2018 – well up from Sept and Oct 2017.

Yes, median sales prices have softened…

However in my mind this is a reflection of inventory with many units that are in need of updating / remodeling having been sold over the last few months!

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