View of Fort Lauderdale Oceanfront Condos

September / October 2018 Condo Pricing Guide

Fort Lauderdale
Condos Pricing Guide

Here is our September 2018 / October 2018 condo pricing guide for Fort Lauderdale condos recently sold – this being based on median sales prices for all condos sold over the last 60 days here in Broward County.

BEDS / BATHS LA SP$
ALL 2 / 2 1130 $168,000
W/Front 2 / 2 1177 $195,000
Oceanfront 2 / 2 1236 $400,000
Galt Ocean 2 / 2 1200 $426,250
Luxury 3 / 2 1945 $725,000

We can see from this report how the median sales price is $168,000 for ALL Fort Lauderdale condos sold over the last 60 days – and then how the median changes across different condo “categories” all the way up-to a median of $725,000 for luxury Fort Lauderdale condos.

It is important to note that:

  • Median sales prices overall for Fort Lauderdale condos sold over the last 60 days have softened – down from $176,000 to $168,000!
  • Prices have softened for all categories as well – Luxury, Waterfront, Oceanfront and Galt Ocean Mile condos all down from our last post!
  • The largest decline in median sales prices has been for Galt Ocean Mile condos sold over the last 60 days which are down from $560,000 to $426,250 – a drop of $133,750 or 24%!

View luxury 3 bedroom Galt Ocean Mile direct oceanfront condo recently sold in Fountainhead.
View luxury 3 bedroom Galt Ocean Mile direct oceanfront condo recently sold in Fountainhead.

Our summary report above shows us that over the last 60 days: 

  • Fort Lauderdale Waterfront condos have had median sales price of $195,000 – this being for a 2 bedroom 2 bathroom unit of 1177 sq ft – In our last post the median sales price for waterfront condos was higher at $215,000 this being for a 2 bedroom 2 bathroom unit of 1176 sq ft
  • Fort Lauderdale Oceanfront condos have had a median sales price of $400,000 – this being for a 2 bedroom 2 bathroom unit of 1236 sq ft – In our last post the median sales price for oceanfront condos was a little higher at $410,000 – this being for a 2 bedroom 2 bathroom unit of 1283 sq ft
  • Galt Ocean Mile “direct oceanfront” condos have had a median sales price of $426,250 – this being for a 2 bedroom 2 bathroom unit of 1200 sq ft – In our last post the median sales price for Galt Ocean Mile condos was higher at $560,000 – this however being for a much larger  2 bedroom 2 bathroom unit of 1662 sq ft 
  • Fort Lauderdale Luxury condos have had a median sales price of $725,000 – this being for a 2 bedroom 2 bathroom unit of 1945 sq ft – In our last post the median sales price for luxury condos was $759,000 – this being for a 2 bedroom 2 bathroom unit of 1975 sq ft

In this months post I also review recent sales for Fort Lauderdale condos by bedroom for both Oceanfront condos and Galt Ocean Mile direct oceanfront condos.

Read our last Fort Lauderdale Condo Pricing Guide

View Fort Lauderdale oceanfront condos here on Fort Lauderdale Beach
Aerial view of some of the Fort Lauderdale oceanfront condos here on Fort Lauderdale Beach!

Oceanfront Condos
Prices by Bedroom

Here is the market analysis report for Fort Lauderdale Oceanfront Condo Sales – based on number of bedrooms.

BEDS / BATHS LA SP$ SP$/SqFt
0 / 1 521 $203,750 $406.00
1 / 1 893 $287,500 $321.00
2 / 2 1279 $417,000 $330.00
3 / 3 2261 $955,000 $455.00

We can see from this report the median prices for oceanfront units by bedroom.

Important to note are the changes in median prices by bedroom…

  • Oceanfront Studio sales have a median of $203,750 – this being for a unit of 521 square feet with a sales price to square foot price of $406.00 – In our last post the median for Oceanfront Studios was higher at $215,000 – this being for a unit of 533 square feet with a sales price to square foot price of $408.00
  • Oceanfront 1 bedroom condo sales have a median of $287,500  – this being for a 1 bedroom 1 bathroom unit of 893 square feet with a sales price to square foot price of $321.00 – In our last post the median for Oceanfront 1 bedroom condos was lower at $275,000  – this being for a 1 bedroom 1 bathroom unit of 870 square feet with a sales price to square foot price of $307.00
  • Oceanfront 2 bedroom condo sales have a median of $417,000  – this being for a 2 bedroom 2 bathroom unit of 1279 square feet with a sales price to square foot price of $330.00 – In our last post the median for Oceanfront 2 bedrooms was higher at $450,000  – this being for a 2 bedroom 2 bathroom unit of 1340 square feet with a sales price to square foot price of $328.00
  • Oceanfront 3 bedroom condos sales have a median of $955,000 – this being for a 3 bedroom 3 bathroom condo of 2261 square feet with a sales price to square foot price of $455.00 – In our last post the median for Oceanfront 3 bedroom condos was much lower at $833,500 – this being for a 3 bedroom 3 bathroom condo of 2100 square feet with a sales price to square foot price of $421.00

Note: Median sales prices for oceanfront 3 bedroom condos can vary widely from month to month – especially given the number of 3 bedroom new construction projects / sales we currently have here in Fort Lauderdale!

View Galt Ocean Mile Condos Fort Lauderdale FL
View of the some of the very famous Galt Ocean Mile Condos here in Fort Lauderdale Florida!

Galt Ocean Mile
Prices by Bedroom

Galt Ocean Mile is one of the sought out “strips” of direct oceanfront condos here in Fort Lauderdale.

Galt Ocean Mile condos offer a mix of complexes and buildings from mid-century to luxury newer construction. 

Here is the market analysis report for Galt Ocean Mile* condo sales – based on bedroom.

BEDS / BATHS LA SP$ SP$/SqFt
0 / 1 450 $218,000 $484.00
1 / 1 1088 $292,500 $275.00
2 / 2 1450 $480,000 $342.00
3 / 2 2159 $832,500 $414.00

We can see from this report the median prices for Galt Ocean Mile condos by bedroom.

Again it is important to note are some of the changes in median prices by bedroom…

  • Galt Ocean Mile Studio units have a median price of $218,000 –this being for a 1 bathroom unit of 450 square feet with a sales price to  square foot price of $484.00 In our last post the median for Galt Ocean Mile studios sold was higher at $224,000 -this being for a much larger 1 bathroom unit of 644 square feet with a sales price to  square foot price of $384.00
  • 1 bedroom units have a median price of $292,500 –this being for a 1 bedroom 1 bathroom unit of 1088 square feet with a sales price to  square foot price of $275.00 – In our last post the median for Galt Ocean Mile 1 bedroom condos was higher at $312,000 -this being for a 1 bedroom 1 bathroom unit of 1088 square feet with a sales price to  square foot price of $284.00
  • 2 bedroom units have a median price of $480,000 –this being for a 2 bedroom 2 bathroom unit of 1450 square feet with a sales price for square foot price of $342.00 – In our last post the median for Galt Ocean Mile 2 bedroom condos was much higher at $560,000 -this being for a larger 2 bedroom 2 bathroom unit of 1642 square feet with a sales price for square foot price of $355.00
  • 3 bedroom units have a median price of $832,500 – this being for a 3 bedroom 2 bathroom unit of 2159 square feet with a sales price to square foot price of $414.00 –In our last post the median for 3 bedroom condos was much lower at $745,000 – this being for a 3 bedroom 2 bathroom unit of 2234 square feet with a sales price to square foot price of $370.00

* Note for the purposes of this report Galt Ocean Mile data includes all oceanfront units in Zip 33308

Kevin Wirth Realtor outside Galt Ocean Mile condominiums

My Summary

We currently have a great selection Fort Lauderdale condos for sale across all categories- from waterfront, oceanfront condos, Galt Ocean Mile condos and Luxury condos

It is important to note that median prices over the last 60 days across all categories have softened!

This softening is in my mind a reflection of both “Summer” vs “Season” sales and also sales of of older units – units in need of major renovation / updating!

I hope you have enjoyed my post of Fort Lauderdale condos – by 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.