View of Galt Ocean Mile condo here in Fort Lauderdale FL

Galt Ocean Mile Condos Sales May – Oct 2018

Galt Ocean Mile
Condos Sales Update

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

Key Sales Statistics
for Buyers / Sellers

  • 148 Units Sold over the Last 6 Months
  • Sales Prices from $200,000 – $2,250,000

Median Sales Prices

  • Sales Price last 6 Months $470,000 
    -2 Bedroom 2 Bathroom Unit
  • Sales Price to Sq Foot Price $326.00
  • Sales Price to List Price 95%
  • Days on Market 78 Days

Important to note:

Sales have been strong 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 softened a little 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 Playa del Mar Fort Lauderdale
View 2 bedroom Galt Ocean Mile condo recently sold Playa del Mar Fort Lauderdale

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 / 1 547 $220,000 $434.00
1 / 1 1,088 $298,000 $283.00
2 / 2 1,540 $497,000 $331.00
3 / 2 2,210 $745,000 $363.00

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 $220,000 – this being for a unit of 547 square feet with a sales price to square foot price of $434.00 – In our last post the median sales price for a studio unit was lower at $215,000 – this being for a unit of 467 square feet with a sales price to square foot price of $373.00
  • Galt Ocean Mile 1 bedroom unit sold over the last 6 months has been $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 – In our last post the median sales price for a 1 bedroom unit was the same 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 $282.00
  • Galt Ocean Mile 2 bedroom unit sold over the last 6 months has been $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 – In our last post the median sales price for a 2 bedroom unit was a little less at $493,500 – this being for a 2 bedroom 2 bathroom unit of 1538 square feet with a sales price to square foot price of $334.00
  • Galt Ocean Mile 3 bedroom unit sold over the last 6 months has been $745,000this being for a 3 bedroom 2 bathroom unit of 2210 square feet with a sales price to square foot price of $363.00 – In our last post the median sales price for a 3 bedroom unit was a little higher at $750,000 – this being for a 3 bedroom 2 bathroom unit of 2210 square feet with a sales price to square foot price of $380.00
Galt Ocean Mile condo sales by units last 6 Months - May 2018 - October 2018
Galt Ocean Mile condo sales by units last 6 Months – May 2018 – October 2018

Galt Ocean Mile
Condo Sales

There have been 148 sales of Galt Ocean Mile condos in Fort Lauderdale over the last 6 months to the end of October 2018- down from our last 2 posts!

In our last post for October 2018 there had been 161 sales of Galt Ocean Mile condos over the preceding 6 months and in our prior post there had been 169 sales over the preceding 6 months!

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
May 2018 28
Jun 2018 29
Jul 2018 22
Aug 2018 32
Sep 2018 19
Oct 2018 18
TOTAL 148
MLS Data November 2018

Again it is important to note that that sales have been strong from May 2018 to August 2018 – they are only now starting slow – typical of this time of year and reflecting the absolute “Seasonality” of sales here on our famous Galt Ocean Mile Market!

View luxury Galt Ocean Mile condo recently sold Fountainhead Fort Lauderdale
View luxury Galt Ocean Mile condo recently sold Fountainhead Fort Lauderdale

Galt Ocean Mile
Condo Sales Data

Our market analysis report showing the MLS sales data for the 148 Galt Ocean Mile condos sold over the last 6 months is presented below:

BEDS / BATHS LA SP$
Min 1 / 1 320 $200,000
Max 3 / 4 3,820 $2,550,000
Avg 2 / 2 1,512 $540,905
Median 2 / 2 1,473 $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

In our last post the median sales price over the last 6 months was $5,000 higher at $475,000this being for a 2 bedroom 2 bathroom unit of 1500 square feet

It is important to note that median prices had been on the rise – up each post over our prior 4 posts!

There had been a $55,000 increase in median prices for Galt Ocean Mile condos sold during these 4 posts!

View Galt Ocean Mile condos Fort Lauderdale Florida
Aerial view of Galt Ocean Mile condos here in Fort Lauderdale Florida

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 $198.00
Max $958.00
Avg $346.00
Median $326.00

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 $326.00 per square foot

It is important to note that this is down from a median of $334.00 in our last post and $336.00 per square foot as in our prior 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 81%
Max 108%
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 8 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 105
Median 78

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 105 days or 15 weeks

More importantly is the median days on market at 78 days or just over 11 weeks – which indicates strong 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 continued and strong level of sales for Galt Ocean Mile condos sold over the last 6 months May 2018 – October 2018 – especially with 32 units sold / closed in August!

Median sales price have softened a little over the last 6 months – this in my mind is reflective of us being out of Season in September and October!

Another very good and positive indicator for Galt Ocean Mile condo sales is list price to sales price at 95% – the same as in our last 8 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.