View of luxury Fort Lauderdale condos here on Galt Ocean Mile

Luxury Galt Ocean Mile Sales – June-August 2018

Welcome to our September 2018 report on Luxury Galt Ocean Mile condo sales / Oceanfront Zip 33308 condos sold over the last 3 months – or from the 1st of June 2018 to the 31st of August 2018.

Luxury Galt Ocean Mile condos for sale here on Galt Ocean Drive  / Zip 33308 are absolute “direct oceanfront” units – they are literally set right on sand – right on the beachfront!

This “prime” location is home to many fine and luxurious condominium complexes.

Luxury Galt Ocean Mile Condos
Our Pricing Guide

Here is our September 2018 pricing guide based on recent sales of luxury Galt Ocean Mile condos – sales made over the last 3 months

  • For Luxury 2 bedroom Galt Ocean Mile condos the median sales price has been $630,000 – well up from $550,000 in our last post!
  • For Luxury 3 bedroom Galt Ocean Mile condos the median sales price is $760,000 well down from $985,000 as in our last post!

Galt Ocean  Mile offers a great range of luxury Fort Lauderdale condos for sale with prices from $500,000 to $6,000,000!

In the last 90 days  / 3 Months there have been 33 x Luxury Galt Ocean Mile condos sold – up from our 26 sales in last post!


Search Galt Ocean Mile Condos for Sale

Galt Ocean Mile Condos
Luxury Sales – Last 3 Months

There have been 33 x Luxury Galt Ocean Mile condos sold here in Fort Lauderdale from June to August 2018 – this is up from 26 sales of Luxury Galt Ocean Mile condo sale as in our last post!

Here is our market summary for these 33 sales of Luxury Galt Ocean Mile “direct oceanfront” condos

BEDS / BATHS LA SP$
Min 2 / 2 1130 $515,000
Max 3 / 4 3820 $2,050,000
Avg 2 / 2 1827 $774,175
Median 2 / 2 1708 $652,500

We can see from this summary report that the average sales price for luxury Fort Lauderdale condos sold here on Galt Ocean Mile over the last 90 days has been $774,175 – this being for a 2 bedroom 2 bathroom condo of 1827 square feet.

We can also see from this summary report that the median sales price for luxury condos sold here on Galt Ocean Mile over the last 90 days has been $652,500 – this being for a 2 bedroom 2 bathroom condo of 1988 square feet – It is important to note that this is well down from our last post!

In our last post covering Luxury Galt Ocean Mile condos sales the median sales price for luxury Galt Ocean Mile condos sold over the preceding 90 days was $768,750 – this being for a 2 bedroom 2 bathroom condo of 1988 square feet

In my mind one of the reasons for the drop in median sales price is that their have been a number of larger units sold which are in need of renovation /  updating and in some cases units have been in “original” condition.

It is important to note however that median prices for 2 bedroom luxury Galt Ocean Mile condos sold over the last 3 months are well up from our last post!

A number of these 2 bedroom luxury Galt Ocean Mile condos sold have been updated and/ or located in “prime” stacks

View luxury 3 bedroom Galt Ocean MIle condo recently sold Fountainhead Fort Lauderdale
View luxury 3 bedroom Galt Ocean MIle condo recently sold Fountainhead Fort Lauderdale

June 2018 – August 2018
Sales Prices By Bedroom

Here is our market summary report showing median sales prices by bedroom for luxury Galt Ocean Mile condos sold over the last 3 months.

BEDS / BATHS LA SP$ SP$/SqFt
2 / 2 1615 $630,000 $402.00
3 / 2 2159 $760,000 $414.00

For Luxury 2 bedroom condos the median price is $630,000 – this being for a 2 bedroom 2 bathroom unit of 1615 square feet with a sales price to square foot price of $402.00 – this is well up from our last post when the median was $550,000 – this being for a 2 bedroom 2 bathroom unit of 1650 square feet with a sales price to square foot price of $346.00

For Luxury 3 bedroom condos the median price is $760,000 this being for a 3 bedroom 2 bathroom unit of 2159 square feet with a sales price to square foot price of $414.00 – this is well down from our last post when the median was $985,000 – this being for a 3 bedroom 2 bathroom unit of 2140 square feet with a sales price to square foot price of $444.00

It is also important to note that the “average” sales price for a Galt Ocean Mile condo sold over the last 3 months have been $935,961 – much closer to the median of our last post!

Square Foot Prices
Condos Sold

Here is our market summary report showing square foot prices paid for Luxury Galt Ocean Drive condos sold here on Galt Ocean Mile over the last 3 months.

SP$/SqFt
Min $292.00
Max $613.00
Avg $418.00
Median $409.00

We can see from this report that the median sales price to square foot price paid for a luxury Galt Ocean Mile condo sold over the last 3 months has been $409.00

It is important to note that this is much the same as in our last post when the median was $410.00!

% Sales to List Price

An important real estate indicators that is important to note is how much  buyers are paying for Luxury Fort Lauderdale Condos for sale here on Galt Ocean Mile – we can gauge this based on the percentage of sales price to list price paid by buyers.

The market analysis report for this is presented below

SP$/LP$
Min 85%
Max 100%
Avg 94%
Median 95%

We can see from this report that average sales price to list price has been 94% –  up from 93% as in our last post!

We can also see from this report that median sales price to list price has been 95% – which is the same as in our last 3 posts!

A sales price to list price of 95% means that is a luxury condo is listed for sale for $1,000,000 – then based on MLS data, the unit could be expected to sell for $950,000.

Days on Market

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

Here is the market analysis report for Days on Market based on condo sales over the last 3 months.

DOM
Min 1
Max 1019
Avg 147
Median    82

We can see from this report that the average days on market for a Luxury Fort Lauderdale condo sold on Galt Ocean Mile has been 147 days or just under 5 months!

We can also see that the median days on market has been 82 days or just under 12 weeks  – this is up from 72 days in our last post which in turn was up from 57 days in our prior post!

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

Kevin Wirth Fort Lauderdale Realtor

My Thoughts  / Summary

Currently we have a great range of Luxury Galt Ocean Mile condos for sale / Zip 33308 condos for sale.

Median sales prices overall and for 3 bedroom units have softened dramatically over the last 3 months – part of this is the end of season, another part is the sale of many units that are in need of updating as I mentioned above.

Despite this median sales prices for 2 bedroom units are well up – which is a really positive sign – and in my mind reflects the recent sales of updated units and units in “prime” stacks. 

Read our last post on Luxury Galt Ocean Mile Condos

I hope you have enjoyed my report on Luxury Fort Lauderdale condos here on Galt Ocean Mile – Kevin Wirth P.A. Realtor

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.