View of Galt Ocean Mile condo here in Fort Lauderdale FL

Galt Ocean Mile Condos Sales July – Dec 2018

Galt Ocean Mile
Condos Sales Update

In this our January 2019 post we review recent sales of Galt Ocean Mile condos over the last 6 months (1st of July 2018 to 31st December 2018) and I share my thoughts on these statistics.

Key Sales Statistics
for Buyers / Sellers

  • 136 Units Sold over the Last 6 Months
  • Sales Prices from $170,000 – $4,650,000

Median Sales Prices

  • Sales Price last 6 Months $470,000 
    -2 Bedroom 2 Bathroom Unit
  • Sales Price to Sq Foot Price $322.00
  • Sales Price to List Price 95%
  • Days on Market 86 Days

Important to note:

Sales have been solid over the last 6 Months – with August 2018 having the highest number of sales!

Median sales prices for Galt Ocean Mile condos sold over the last 6 months have stabilized this month after being on the rise!

Search Galt Ocean Mile Condos for Sale

In this post we cover median sales prices by bedroom, list price to sales price as well as days on market.

View 2 bedroom Galt Ocean Mile condo recently sold Plaza East
View 2 bedroom Galt Ocean Mile condo recently sold Plaza East

Galt Ocean Mile
Prices by Bedroom

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

BEDS / BATHS LA SP$ SP$/SqFt
0 / 1 525 $218,000 $384.00
1 / 1 1,088 $287,500 $278.00
2 / 2 1,537 $500,000 $336.00
3 / 2 2,109 $690,000 $400.00

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

  • Galt Ocean Mile studio unit sold over the last 6 months has been $218,000 – this being for a unit of 525 square feet with a sales price to square foot price of $384.00 – In our last post the median sales price for a studio unit was a little higher at $220,000 – this being for a unit of 547 square feet with a sales price to square foot price of $434.00
  • Galt Ocean Mile 1 bedroom unit sold over the last 6 months has been $287,500 – this being for a 1 bedroom 1 bathroom unit of 1088 square feet with a sales price to square foot price of $278.00 – In our last post the median sales price for a 1 bedroom unit was higher at $298,000 – this being for a 1 bedroom 1 bathroom unit of 1088 square feet with a sales price to square foot price of $283.00
  • Galt Ocean Mile 2 bedroom unit sold over the last 6 months has been $500,000 – this being for a 2 bedroom 2 bathroom unit of 1537 square feet with a sales price to square foot price of $336.00 – In our last post the median sales price for a 2 bedroom unit was a little lower at $497,000 – this being for a 2 bedroom 2 bathroom unit of 1540 square feet with a sales price to square foot price of $331.00
  • Galt Ocean Mile 3 bedroom unit sold over the last 6 months has been $690,000this being for a 3 bedroom 2 bathroom unit of 2109 square feet with a sales price to square foot price of $400.00 – In our last post the median sales price for a 3 bedroom unit was $745,000 – this being for a 3 bedroom 2 bathroom unit of 2210 square feet with a sales price to square foot price of $363.00
Galt Ocean Mile condo sales July - December 2018
Galt Ocean Mile Condo Sales July 2018 – December 2018, Number of Sales per Month

Galt Ocean Mile
Condo Sales

There have been 136 sales of Galt Ocean Mile condos in Fort Lauderdale over the last 6 months to the end of December 2018- down from our last 3 posts

We can from the graph above and the table below the monthly volume of sales for Galt Ocean Mile condos / Oceanfront condos in Zip 33308!

Month Number of Sales
Jul 2018 22
Aug 2018 32
Sep 2018 19
Oct 2018 21
Nov 2018 19
Dec 2018 23
TOTAL 136
MLS Data January 2019

Again it is important to note that we had a strong sales season up-to August 2018  – Sales then slowed – reflecting the absolute “Seasonality” of sales here on our famous Galt Ocean Mile!

View Galt Ocean Mile condos Fort Lauderdale Florida
View of Galt Ocean Mile condos here in Fort Lauderdale, Florida

Galt Ocean Mile
Condo Sales Data

Our market analysis report showing the MLS sales data for the 136 Galt Ocean Mile condos sold over the last 6 months is presented below:

BEDS / BATHS LA SP$
Min 0 / 1 450 $170,000
Max 4 / 5 4,542 $4,650,000
Avg 2 / 2 1,462 $541,347
Median 2 / 2 1,435 $470,000

We can see from this report that the median sales price over the last 6 months has been $470,000 – this being for a 2 bedroom 2 bathroom unit of 1473 square feet

The median is the same as in our last post!

Median prices have been on the rise for much of 2018 – with median sales prices up by approx $55,000

Square Foot Prices
Condos Sold

Here is our market summary report showing square foot prices paid for Galt Ocean Mile condos / Zip 33308 oceanfront condos sold here in Fort Lauderdale over the last 6 months.

SP$/SqFt
Min $206.00
Max $1,024.00
Avg $349.00
Median $322.00

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 $322.00 per square foot – down from our last posts!

It is important to note that this is down from a median of $326.00 in our last post, $334.00 in our prior post and $336.00 per square foot as in our earlier post!

Again it is also important to note that the median is still up from earlier this year when the median was $308.00 per square foot!

% Sales to List Price

An important real estate indicator is how much buyers are paying for Galt Ocean Mile condos based on sales price to list price!

The market analysis report for this is presented below

SP$/LP$
Min 77%
Max 104%
Avg 94%
Median 95%

We can see from this report that the median sales price to list price for a Galt Ocean Mile condos sold  over the last 6 months has been 95%

It is important to note that the median is the same as in our last 9 posts!

This means if a Fort Lauderdale condo for sale here on Galt Ocean Mile is listed at $450,000 – then based on median sales data the condo would sell for 95% of that amount or $427,500.

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.

DOM
Min 1
Max 1,019
Avg 117
Median 86

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 117 days or 15 weeks

More importantly is the median days on market at 86 days or just under 3 months – which is a good indicator of demand!

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

It is great to see a good level of sales for Galt Ocean Mile condos sold over the last 6 months July 2018 – December 2018

It is exciting to be heading into Season – and I am sure 2019 will see some good sales numbers!

A very good and positive indicator for Galt Ocean Mile condo sales is our list price to sales price at 95%this has been the same over the last 9 posts!!

I hope you enjoyed this report on Galt Ocean Mile Condos for Sale – Kevin Wirth P.A. Realtor

Read our last post of Galt Ocean Mile Condo Sales

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.