View Riviera Galt Ocean Mile condos recently sold 3550 Galt Ocean Dr, Fort Lauderdale

Riviera Condos

Ocean Riviera
Galt Ocean Mile Condos

Welcome to our February / March 2018 post on Ocean Riviera Galt Ocean Mile condos for sale Fort Lauderdale – also known as the Riviera Galt Ocean Mile.

Fort Lauderdale condos for sale here in Ocean Riviera are direct oceanfront units set right on the Galt Ocean Mile Beachfront.

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There are 9 condos currently for sale in this great direct oceanfront complex – 2 of these are new listings (both 1 bedroom units)

There have been 4 sales in the last 6 months – and 2 units are currently pending sale! 

In this post we discuss units for sale, new listings, pending sales and also recent sales prices, sales prices by bedroom & sales prices per sq ft. 

We also discuss how long units are taking to sell (called days on market) – and how much buyers are paying for units (sales prices to list price %) as well as the highest prices paid for units over the last 6 months!

We also compare recent sales trends in The Riviera – Important information for both buyers and sellers!

Riviera Galt Ocean Mile
Key Statistics
Riviera Condominium complex in Fort Lauderdale, Florida
Address: 3550 Galt Ocean Dr, Fort Lauderdale, FL 33308

  • Prices from $298,880 – $799,000

Pricing Guide

  • Median List Price $449,900
    – 2 bedroom 2 bathroom unit

Median Sales Prices

  • Median Sales Price $365,000
    – 2 bedroom 2 bathroom unit
  • Sales Price to Square Foot Price $266.00
  • Median Sales to List Price 97%
  • Days on Market 69 Days
View Riviera condo for sale Galt Ocean Mile in Ocean Riviera
View Riviera condo for sale Galt Ocean Mile in Ocean Riviera

Ocean Riviera
Condos for Sale

The following market report is for the 9 x Riviera Galt Ocean Mile condos for sale Fort Lauderdale –the number of condos for sale is up slightly from 8 our last post!!

Our market analysis report for these 9 units is presented below:

BEDS / BATHS LA LP$
Min 1 / 1 1076 $298,880
Max 2 / 2 1656 $799,000
Avg 2 / 2 1389 $446,731
Median 2 / 2 1575 $449,900

We can see from the market report that the median price for a unit currently for sale is $449,900  – this being based on a 2 bedroom 2 bathroom unit of 1575 square feet with a list price to square foot price of $291.00

It is important to note that median prices are down from our last 2 posts!

In our last post the median price for a unit for sale was $479,000  – this being based on a 2 bedroom 2 bathroom unit of 1615 square feet with a list price to square foot price of $311.00

In our prior post the median price for a unit for sale was $515,000  – this being based on a 2 bedroom 2 bathroom unit of 1656 square feet with a list price to square foot price of $311.00

We can also see from this post that the highest priced unit is offered for sale for $799,000 and the lowest priced unit is offered for sale for $298,880!

View Ocean Riviera Condominium - 3550 Galt Ocean Drive Fort Lauderdale
View Ocean Riviera Condominium – 3550 Galt Ocean Drive Fort Lauderdale

Square Foot Prices
Condos for Sale

Here is our market summary report showing square foot prices for Fort Lauderdale Condos here in The Riviera

LP$/SqFt
Min $278.00
Max $330.00
Avg $298.00
Median $291.00

What we can see from this report is the spread of prices from $278.00 – $330.00 with the median at $291.00 per square foot.

In our last post the median was higher at $311.00 per square foot!

Important to factor into these prices is the units condition, location in the building (stack) and views.

Ocean Riviera
Condo Median Prices

Here is the market summary report showing median prices by bedroom for condos here in the Riviera Galt Ocean Mile.

BEDS / BATHS LA LP$ LP$/SqFt
1 / 1 1076 $319,450 $297.00
2 / 2 1656 $490,000 $291.00

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

  • 1 Bedroom Ocean Riviera condos for sale is $319,450 – this being for a 1 Bedroom 1 Bathroom 1076 square foot unit with a list price to square foot price of $297.00 In our last post the median for 1 bedroom units for sale was higher at $347,450 – this being for a 1 Bedroom 1 Bathroom 1076 square foot unit with a list price to square foot price of $323.00
  • 2 Bedroom Ocean Riviera condos for sale is $490,000 – this being for a 2 Bedroom 2 Bathroom 1656 square foot unit with a list price to square foot price of $291.00.  In our last post the median for 2 Bedroom Ocean Riviera condos for sale was higher at $502,000 – this being for a 2 Bedroom 2 Bathroom 1656 square foot unit with a list price to square foot price of $310.00.
View Riviera Galt Ocean Mile condo just listed for sale - Unit 504
Look at the views from this Riviera Galt Ocean Mile condo just listed for sale – Unit 504

Ocean Riviera
New Condo Listings

There have been 2 new listings of a Ocean Riviera Galt Ocean Mile condos for sale in the last 30 days – both 1 bedroom units!

In our last post for December 2017 / January 2018 there were 4 new listings of Riviera condos for sale – 2 x 2 bedroom units and 2 x 1 bedroom units!

Our market analysis report for these new listings is presented below:

CONDO BEDS / BATHS LA LP$
Unit 504 1 / 1 1076 $339,900
Unit 809 1 / 1 1076 $298,880
Median 1 / 1 1076 $319,390

We can see from this report that:

Unit 504 a 1 bedroom Riviera condo has just been listed for sale for $339,900this 1 bedroom 1 bathroom 1076 square foot condo has a list price to square foot price of $316.00

Unit 504 is a spacious 1 bedroom / 1.5 bathroom Galt Ocean Mile condo!  The unit features some of the best ocean views, wood floors, plenty of closet space, a stackable washer/dryer, impact windows and doors and stainless steel appliances!

Unit 809 a 1 bedroom Riviera condo has just been listed for sale for $298,880 – this 1 bedroom 1 bathroom 1076 square foot condo has a list price to square foot price of $278.00

Unit 809 Beautiful Galt Ocean Mile ocean front one bedroom one and a half bath condo.  The unit is offered for sale fully furnished and ready to go. This condo is “Open and Bright” and features an upgraded kitchen and baths, tile floors throughout, and lots of closet space. 


Kevin Wirth Fort Lauderdale Realtor

Buying / Selling?
Call Me Today!

Kevin Wirth P.A.  – Realtor
Galt Ocean Mile Specialist
954-459-0337

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View Galt Ocean Mile New Listings

View Galt Ocean Mile condo pending sale Riviera Unit 910
Direct ocean views from this Galt Ocean Mile condo pending sale Riviera Unit 910

Ocean Riviera
Pending & Recent Sales

We review and discuss the data for sales of Ocean Riviera Galt Ocean Mile Condos below – including pending sales and sales over the last 6 months below.

Ocean Riviera Condos
Pending Sales

There are currently 2 units pending sale here in Riviera 

In our last post for December 2017 / January 2018 there was just 1 unit pending sale – Unit 303 a 1 bedroom condo!

Our market summary report for these units is presented below:

CONDO BEDS / BATHS LA LP$
Unit 910 2 / 2 1575 $489,000
Unit 303 1 / 1 1076 $244,900

We can see from this report that Unit 910 a 2 bedroom Riviera condo listed for sale for $489,000 is now pending sale  – this 2 bedroom 2 bathroom 1575 square foot condo has a list price to square foot price of $310.00

This Galt Ocean Mile condo offers amazing ocean views and views of the city.

The unit is renovated and features: a modern kitchen with custom cabinets and granite with precious stones, impact windows and door and over-sized bedrooms!

We can see from this report that Unit 303 a 1 bedroom Riviera condo listed for sale for $244,900 is now pending sale  – this 1 bedroom 1 bathroom 1076 square foot condo has a list price to square foot price of $228.00

This Galt Ocean Mile condo has a South East exposure and offers great ocean and pool views from the unit and its spacious balcony.

The condo has impact windows throughout and washer and dryer too! 

View Riviera Unit 1406 recently sold Galt Ocean Mile Fort Lauderdale
View Riviera Unit 1406 recently sold Galt Ocean Mile Fort Lauderdale

Ocean Riviera
Sales Last 6 Months

There have been just 4 sales of Ocean Riviera Galt Ocean Mile condos in the last 6 months

It is important to note that the number of sale is down from 6 sales over the preceding 6 months as in our last post…

Which in turn was down from 8 sales over the preceding 6 months as per prior last post!

The market analysis report for these sales is presented below.

BEDS / BATHS LA SP$
Min 1 / 1 1076 $242,000
Max 2 / 2 1656 $481,000
Avg 1 / 1 1366 $363,250
Median 1 / 1 1366 $365,000

We can see from this report that the average sales price for a condo sold here in Riviera over the last 6 months has been $363,250 – this being for a 1366 square foot 1 bedroom 1 bathroom unit.

We can also see from this report that the median sales price for a condo sold here in Riviera over the last 6 months has been $365,000  – this being for a 1325 square foot 1 bedroom 1 bathroom unit.

The median is the same as in our last post!

However in our prior post the median the median sales price for a condo sold in Riviera over the preceding 6 months was lower at $329,000  – this being for a 1076 square foot 1 bedroom 1 bathroom unit.

It is also useful to look at median sales prices by bedroom over the last 6 months which we do below.

Ocean Riviera Condos
Median Sales Prices

Here is the market summary report showing median sales prices by bedroom for Riviera Galt Ocean Mile condos sold over the last 6 months!

BEDS / BATHS LA SP$ SP$/SqFt
1 / 1 1076 $286,000 $266.00
2 / 2 1656 $440,500 $266.00

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

  • 1 Bedroom Ocean Riviera condos sold is $286,000 – this being for a 1 Bedroom 1 Bathroom 1076 square foot unit with a sales price to square foot price of $266.00.  In our last post the median for 1 Bedroom Ocean Riviera condos sold was $36,000 lower at $250,000 – this being for a 1 Bedroom 1 Bathroom 1076 square foot unit with a sales price to square foot price of $232.00.
  • 2 Bedroom Ocean Riviera condos sold is $440,500 – this being for a 2 Bedroom 2 Bathroom 1656 square foot unit with a list price to square foot price of $266.00.  In our last post the median for 2 Bedroom Ocean Riviera condos sold was over $25,000 less at $415,000 – this being for a 2 Bedroom 2 Bathroom 1575 square foot unit with a list price to square foot price of $263.00.

Square Foot Prices
Condos Sold

Here is our market summary report showing square foot prices paid for Fort Lauderdale Condos sold in The Riviera over the last 6 months.

SP$/SqFt
Min $225.00
Max $307.00
Avg $266.00
Median $266.00

We can see from this report that BOTH the average and median sales price to square foot price paid for a The Riviera condo sold over the last 6 months has been $253.00 – up from $253.00 in our last post!

We can also see that the highest square foot price paid has been $307.00

% Sales to List Price

An important real estate indicator is how much  buyers are paying for Riviera Galt Ocean Mile condos for sale – 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 95%
Max 100%
Avg 97%
Median 97%

We can see from this report that BOTH the average and median sales price to list price for Fort Lauderdale condo here in The Riviera  has been 97% – up from our last 3 posts!

This means if the condo is listed for sale for $450,000 – then based on the median MLS prices it could be expected to sell for 97% of its list price or $436,500!

Days on Market

Days on market for Riviera Galt Ocean Mile condos for sale is an important indicator of demand for units in this complex.

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

DOM
Min 32
Max 393
Avg 141
Median 69

We can see from this report that the median days on market Fort Lauderdale condo for sale in The Riviera over the last 6 months has been 69 days or just over 2 months!

It is important to note that  this is well down from 295 days or just under 10 months just a few months ago!

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

Ocean Riviera
Condo Sales Itemized

Here is the data for each of the condos sold over the last 6 months here in Ocean Riviera

CONDO BEDS / BATHS LA SP$
Unit 1406 2 / 2 1656 $481,000
Unit 1107 2 / 2 1656 $400,000
Unit 904 1 / 1 1076 $330,000
Unit 308 1 / 1 1076 $242,000

We can see from this report the details for each condo sold – including the most expensive sale over the last 6 months, which was for unit 1406 a 2 bedroom 2 bathroom condo which sold for $481,000!

Unit 1406 sold for 100% of list price and had 79 days on market!

Kevin Wirth Realtor outside Galt Ocean Mile condominiums

My Thoughts / Summary

Riviera Galt Ocean Mile condos are units in a great mid century oceanfront complex set right on the beach here on Galt Mile Fort Lauderdale.

Currently we have a great range of 1 and 2 bedroom units for sale!

Even with 2 units pending sale…

Sales activity over the last 6 months has slowed somewhat with just 4 units sold in this post!

I hope you have enjoyed my post on Ocean Riviera
By Kevin Wirth Realtor