View of Fort Lauderdale Oceanfront Condos

2016 Condo Pricing Guide

Fort Lauderdale
Condos Pricing Guide

Here is my pricing guide for Fort Lauderdale condos based on median sales prices over the last 60 days.

 Median Beds/Baths SF/FF Sale Price
ALL 2 / 2 1,105 $135,000
W/Front 2 / 2 1,161 $165,000
O/Front 2 / 2 1,330 $365,000
GaltOcean 2 / 2 1,442 $365,000
Luxury 3 / 2 2,088 $799,000


We can see from this report the median for ALL condos sales at $135,000 – and how the median changes across different condo “categories” all the way up-to a median of $799,000 for luxury Fort Lauderdale condos.

Note: median sales prices for Waterfront & Luxury condos are up – while median sales prices for Oceanfront & Galt Oceanfront condos are down!

Views Fort Lauderdale oceanfront condo recently sold Sea Ranch Lakes
Views Fort Lauderdale oceanfront condo recently sold Sea Ranch Lakes

Our summary report above shows us that 

  • Fort Lauderdale Waterfront condos have had median sales price of $165,000 – this being for a 2 bedroom 2 bathroom unit of 1161 sq ft – In our last post the median sales price for waterfront condos was lower at $160,000 – this being for a 2 bedroom 2 bathroom unit of 1144 sq ft
  • Fort Lauderdale Oceanfront condos have had a median sales price of $365,000 – this being for a 2 bedroom 2 bathroom unit of 1330 sq ft – In our last post the median sales price for oceanfront condos was higher at $366,500 – this being for a 2 bedroom 2 bathroom unit of 1240 sq ft
  • Galt Ocean Mile direct oceanfront condos have had a median sales price of $365,000 –  this being for a 2 bedroom 2 bathroom unit of 1442 sq ft – In our last post the median sales price for Galt Ocean Mile condos was higher at $380,000 – this being for a 2 bedroom 2 bathroom unit of 1400 sq ft
  • Fort Lauderdale Luxury condos have had a median sales price of $799,000 – this being for a 3 bedroom 2 bathroom unit of 2088 sq ft – In our last post the median sales price for luxury condos was lower at $730,000 – this being for a 3 bedroom 2 bathroom unit of 2011 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 condos.

Views from a Galt Ocean Mile condo recently sold in Galt Towers
Views from a Galt Ocean Mile condo recently sold in Galt Towers

Oceanfront Condos
Prices by Bedroom

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

Beds/Baths SF/FF Sale Price SP$/SqFt
0 / 1 310 $113,000 $454
1 / 1 875 $287,500 $288
2 / 2 1,435 $380,000 $295
3 / 2 2,240 $990,000 $440

 

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 Studios are lower at a median of $113,000 – this being for a unit of 310 square feet with a sales price to square foot price of $454.00 – It is important to note that while this is down from $141,000 in our last post – when the median was for a larger unit of 569 square feet with a sales price to square foot price of $271.00
  • Oceanfront 1 bedroom units are up at $287,500  – this being for a 1 bedroom 1 bathroom unit of 875 square feet with a sales price to square foot price of $288.00 – up from $260,000 in our last post – when the median was for a 1 bedroom 1 bathroom unit of 883 square feet with a sales price to square foot price of $273.00
  • Oceanfront 2 bedroom units are also down at $380,000  – this being for a 2 bedroom 2 bathroom unit of 1435 square feet with a sales price to square foot price of $295.00 – down from $420,000 in our last post when the median was for a 2 bedroom 2 bathroom unit of 1499 square feet with a sales price to square foot price of $285.00
  • Oceanfront 3 bedroom units are up at $990,000 – this being for a 3 bedroom 2 bathroom condo of 2240 square feet with a sales price to square foot price of $440.00 – up from $967,500 in our last post when the median was for a 3 bedroom 3 bathroom condo of 2161 square feet with a sales price to square foot price of $427.00

Read our last post on condo pricing for Jan / Feb 2016

Galt Ocean Mile condos
View Fort Lauderdale oceanfront condos on Galt Ocean Mile

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 SF/FF Sale Price SP$/SqFt
0 / 1 477 $207,000 $505
1 / 1 1,076 $281,500 $271
2 / 2 1,450 $390,000 $280
3 / 2 2,345 $1,150,000 $522

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…

  • Studio units have a median price of $207,000 – this being for a smaller unit of 477 square feet with a sales price to square foot price of $505.00 – the median is up from $145,000 in our last post – this also being for a larger unit of 600 square feet with a sales price to square foot price of $295.00
  • 1 bedroom units have a median price of $281,500 –this being for a 1 bedroom 1 bathroom unit of 1076 square feet with a sales price for square foot price of $271.00 – down from $300,000 in our last post when the median was for a 1 bedroom 1 bathroom unit of 1002 square feet with a sales price for square foot price of $276.00
  • 2 bedroom units have a median price of $390,000 – this being for a 2 bedroom 2 bathroom unit of 1450 square feet with a sales price to square foot price of $280.00 – also down from $430,000 in our last post when the median was for a 2 bedroom 2 bathroom unit of 1600 square feet with a sales price to square foot price of $294.00
  • 3 bedroom units have a median price of $1,150,000 – this being for a 3 bedroom 2 bathroom unit of 2345 square feet with a sales price to square foot price of $522.00 – well up from $800,000 in our last post when the median was for a 3 bedroom 2 bathroom unit of 2200 square feet with a sales price to square foot price of $341.00

* 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

2016 has started off a little slow, however sales activity has really picked up over the last month.

Sales prices for oceanfront condos and Galt Ocean Mile “direct oceanfront condos” have softened – in my mind this is due to increased supply of units for sale and competition from many new construction projects.

However Waterfront condos and Luxury condo sales prices are up and we are seeing some strong price increases in sales of 3 bedroom luxury condos here on Galt Ocean Mile. 

A Stronger US and lower Canadian dollar appears to have had quite an impact on Canadian buyers too!

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