View of Galt Ocean Mile condominiums including Ocean Riviera from Fort Lauderdale Beach

Galt Ocean Mile Condos

Galt Ocean Mile
Condo Sales

Search Galt Ocean Mile Condos for Sale

In this post we review recent Galt Ocean Mile condo sales over the last 6 months and I share my thoughts on these statistics.

Key Sales Statistics
for Buyers / Sellers

  • Sales Prices from $130,000 – $2,725,000

Median Sales Prices

  • Sales Price last 6 Months $416,250
    -2 Bedroom 2 Bathroom Unit

  • Median Sales to List Price 94%
  • Days on Market 72 Days

Important to note is that sales volume is down – however median prices for Galt Ocean Mile condos continue to rise!

View from one of the Galt Ocean Mile condos sold here in the last 6 Months - This unit is in L'Hermitage
View from one of the Galt Ocean Mile condos recently sold – This unit is in L’Hermitage

Galt Ocean Mile
Prices by Bedroom

Our market summary report(s) for these sales of Galt Ocean Mile condos over the last 6 months by bedroom.

Beds/Baths SF/FF Sale Price SP$/SqFt
0 / 1 600 $188,500 $342
1 / 1 1,082 $300,000 $272
2 / 2 1,640 $435,000 $289
3 / 2 2,345 $900,000 $390

 

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

  • Galt Ocean Mile studio unit over the last 6 months has been $188,500this being for a unit of 600 square feet with a sales price to square foot price of $342.00 – In our last post the median sales price for a studio unit was lower at $145,000 – this being for a smaller unit of 455 square feet with a higher sales price to square foot price of $478.00
  • Galt Ocean Mile 1 bedroom unit over the last 6 months has been $300,000this being for a 1 bedroom 1 bathroom unit of 1082 square feet with a sales price to square foot price of $272.00 – In our last post the median sales price for a 1 bedroom unit was slightly lower at $275,000 – this being for a similar sized 1 bedroom 1 bathroom unit of 1076 square feet with a sales price to square foot price of $263.00
  • Galt Ocean Mile 2 bedroom unit over the last 6 months has been $435,000this being for a 2 bedroom 2 bathroom unit of 1640 square feet with a sales price to square foot price of $289.00 – In our last post the median sales price for a 2 bedroom unit was close at $431,000 – this being for a 2 bedroom 2 bathroom unit of 1600 square feet with a sales price to square foot price of $295.00
  • Galt Ocean Mile 3 bedroom unit over the last 6 months has been $900,000this being for a 3 bedroom 2 bathroom unit of 2345 square feet with a sales price to square foot price of $390.00 – In our last post the median sales price for a 3 bedroom unit was much higher at $1,060,000 – this being for a 3 bedroom 2 bathroom unit of 2397 square feet with a sales price to square foot price of $395.00
Views from a Galt Ocean Mile condo recently sold here in Plaza South
Views from a Galt Ocean Mile condo recently sold here in Plaza South

Galt Ocean Mile
Condo Sales

There have been 115 sales of Galt Ocean Mile condos here in Fort Lauderdale for the last 6 Months.

Important to note is that sales of Galt Ocean Mile condos are down from our last post when there had been 120 sales in our last post which was down from 168 sales in the prior 6 months!

Our market analysis report for these sales is presented below:

 $$ Beds/Baths SF/FF Sale Price
High 4 / 4 3,970 $2,725,000
Low 0 / 1 310 $130,000
Avg 2 / 2 1,585 $509,425
Med 2 / 2 1,515 $390,000


We can see from this report that the median sales price over the last 6 months has been $390,000 – this being for a 2 bedroom 2 bathroom unit of 1515 square feet.

This is down by over $26,000 or 6% from our last post!

In our last post the  the median sales price over the prior 6 months was $416,250 – this being for a 2 bedroom 2 bathroom unit of 1500 square feet.

Important to note is the range of prices paid – from $130,000 to $2,725,000 for a luxury Galt Ocean Mile condo!

Square Foot Prices
Condos Sold

Here is our market summary report showing square foot prices paid for Galt Ocean Mile condos sold here in Fort Lauderdale over the last 6 months.

 $$ SP$/SqFt
High $908
Low $174
Avg $331
Med $298


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 $298.00 per square foot – this is up from our last 2 posts!

In our last post the the median sales price to square foot price paid for a Galt Ocean Mile condo sold over the prior 6 months was $296.00 and in our prior post it was $273.00 per square foot.

Important to note is the highest price paid at $908.00

% Sales to List Price

An important real estate indicators that is important to note is how much  buyers are paying for 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$/LP$
Avg 92%
Med 94%


We can see from this report that the average sales price to list price has been 92%

We can also see that the median sales price to list price for a Galt Ocean Mile condo sold in the last 6 months has been 94% – which 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 $400,000 – then based on median sales data the condo would sell for 94% of that amount or $376,000.

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.

 $$ Days on Market
Avg 100
Med 71

 

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 100 days

More importantly is the median days on market at 71 days!

71 days or less than 3 months is a very strong indicator of the level of demand that exists for Galt Ocean Mile condos!

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

We have been seeing a slowing of sales of Galt Ocean Mile condos over the last few months.

And now we are seeing a slight softening in median sales prices – down by $26,000 or 6% from our last post.

These two real estate indicators are reflective of the boarder market for Fort Lauderdale condos for sale – where we have been seeing a slower market.

Important to note however is that as at time of writing this post, the number of Galt Ocean Mile condos under contract and pending sale is well up from earlier posts!

I hope you enjoyed this post on Galt Ocean Mile Condos for Sale – Kevin Wirth Realtor

Read our last post of Galt Ocean Mile Condos