Galt Ocean Mile Condos
Sales Prices Update
July 2020 – December 2020
In this our January 2021 post we review Galt Ocean Mile condos sales prices over the last 6 months (1st of July 2020 to 31st December 2020) and I share my thoughts on these statistics.
Key Sales Statistics
for Buyers / Sellers
- 97 Units Sold over the Last 6 Months
- Sales Prices from $200,000 – $3,715,000
Median Sales Prices
- Sales Price last 6 Months $533,500
-2 Bedroom 2 Bathroom Unit - Sales Price to Sq Foot Price $357.00
- Sales Price to List Price 94%
- Days on Market 81 Days
Search Galt Ocean Mile Condos for Sale
In this post we cover median sales prices by bedroom, list price to sales price as well as days on market.
Galt Ocean Mile
Prices by Bedroom
Our market summary report(s) for sales of Galt Ocean Mile condos over the last 6 months by bedroom.
| BEDS / BATHS | LA | SP$ | SP$/SqFt |
| 0 / 1 | 450 | $218,000 | $478.00 |
| 1 / 1 | 1,054 | $300,000 | $294.00 |
| 2 / 2 | 1,575 | $507,500 | $342.00 |
| 3 / 2 | 2,140 | $882,500 | $403.00 |
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 450 square feet with a sales price to square foot price of $294.00 – In our last post the median sales price for a studio unit was slightly lower at $213,000 – this being for a larger unit of 600 square feet with a sales price to square foot price of $333.00
- Galt Ocean Mile 1 bedroom unit sold over the last 6 months has been $300,000 – this being for a 1 bedroom 1 bathroom unit of 1054 square feet with a sales price to square foot price of $294.00 – In our last post the median sales price for a 1 bedroom unit was lower at $280,000 – this being for a 1 bedroom 1 bathroom unit of 1514 square feet with a sales price to square foot price of $349.00
- Galt Ocean Mile 2 bedroom unit sold over the last 6 months has been $507,500 – this being for a 2 bedroom 2 bathroom unit of 1575 square feet with a sales price to square foot price of $342.00 – In our last post the median sales price for a 2 bedroom unit was higher at $537,500 – this being for a 2 bedroom 2 bathroom unit of 1514 square feet with a sales price to square foot price of $349.00
- Galt Ocean Mile 3 bedroom unit sold over the last 6 months has been $882,500 – this being for a 3 bedroom 2 bathroom unit of 2140 square feet with a sales price to square foot price of $403.00 – In our last post the median sales price for a 3 bedroom unit was much higher at $975,000 – this being for a 3 bedroom 2 bathroom unit of 2131 square feet with a sales price to square foot price of $459.00
Galt Ocean Mile
Condo Sales
There have been 160 sales of Galt Ocean Mile condos in Fort Lauderdale over the last 6 months – this being from the 1st of July 2020 to the 31st of December 2020 – well up from our last post!
In our last post there had been 97 sales of Galt Ocean Mile condos over the preceding 6 months – this being from the 1st of January 2020 to the 30th of June 2020
We can from the graph above and the table below the monthly volume of sales for Galt Ocean Mile condos / Oceanfront condos in Zip 33308!
| Month | Sales, Number of |
| Jul 2020 | 12 |
| Aug 2020 | 26 |
| Sep 2020 | 18 |
| Oct 2020 | 34 |
| Nov 2020 | 37 |
| Dec 2020 | 33 |
| TOTAL | 160 |
Again it is important to note that sales of Galt Ocean Mile condos had been very slow for the first part of 2020 – in my mind a direct a result of the Covid 19 Virus and many of the buildings on Galt Ocean Mile being closed to Realtors!
Galt Ocean Mile
Condo Sales Data
Our market analysis report showing the MLS sales data for the 160 Galt Ocean Mile condos sold over the last 6 months is presented below:
| BEDS / BATHS | LA | SP$ | |
| Min | 0 / 1 | 450 | $167,000 |
| Max | 6 / 5 | 4,938 | $4,170,000 |
| Avg | 2 / 2 | 1,587 | $644,271 |
| Median | 2 / 2 | 1,500 | $473,750 |
We can see from this report that the median sales price over the last 6 months has been $473,750 – this being for a 2 bedroom 2 bathroom unit of 1500 square feet
Square Foot Prices
Condos Sold
Here is our market summary report showing square foot prices paid for Galt Ocean Mile condos / Zip 33308 oceanfront condos sold here in Fort Lauderdale over the last 6 months.
| SP$/SqFt | |
| Min | $169.00 |
| Max | $1,184.00 |
| Avg | $375.00 |
| Median | $347.00 |
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 $347.00 per square foot – It is also important to note that the median is down slightly from $357.00 as in our last post, $313.00 in our prior post and $321.00 as in our earlier post!
% Sales to List Price
An important real estate indicator is how much buyers are paying for Galt Ocean Mile condos based on sales price to list price!
The market analysis report for this is presented below:
| SP$/LP$ | |
| Min | 74% |
| Max | 105% |
| 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% – this is the up from 94% as in our last 4 posts!
This means if a Fort Lauderdale condo for sale here on Galt Ocean Mile is listed at $500,000 – then based on median sales data the condo would sell for 95% of that amount or $475,000.
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.
| DOM | |
| Min | 1 |
| Max | 650 |
| Avg | 139 |
| Median | 109 |
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 108 days.
More importantly is the median days on market at 109 days – this is well up from from 81 days as in our last post!
Days on market is the time from when the condo was listed for sale till the condo sold AND closed.
My Thoughts / Summary
I am very pleased to report that sales of Galt Ocean Mile condos over the last 6 months are well up from earlier this year – 160 sales over the last 6 months of 2020 compared to 97 condo sales for the first 6 months of 2020.
The impact of Covid 19 having slowed our market considerably for the first part of 2020.
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 © 2020 Realtors of the Palm Beaches and Greater Fort Lauderdale Multiple Listing Service Inc.