View of Galt Ocean Mile condo here in Fort Lauderdale FL

Galt Ocean Mile Condos Sales Prices Last 6 Months

Galt Ocean Mile Condos
Sales Prices Update
Nov 2019 – April 2020

In this our May 2020 post we review Galt Ocean Mile condos sales prices over the last 6 months (1st of November 2019 to 30th April 2020) and I share my thoughts on these statistics.

Key Sales Statistics
for Buyers / Sellers

  • 116 Units Sold over the Last 6 Months
  • Sales Prices from $172,900 – $3,715,000

Median Sales Prices

  • Sales Price last 6 Months $489,000 
    -2 Bedroom 2 Bathroom Unit
  • Sales Price to Sq Foot Price $351.00
  • Sales Price to List Price 94%
  • Days on Market 73 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.

View 2 Bedroom Galt Ocean Mile condo recently sold Playa del Mar 3900 Galt Ocean Drive Fort Lauderdale
View 2 Bedroom Galt Ocean Mile condo recently sold Playa del Mar 3900 Galt Ocean Drive

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 $211,000 $401.00
1 / 1 1,047 $275,000 $341.00
2 / 2 1,525 $493,000 $340.00
3 / 2 2,140 $922,500 $459.00

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 $211,000 – this being for a unit of 525 square feet with a sales price to square foot price of $401.00 – In our last post the median sales price for a studio unit was the same at $211,000 – this being for a smaller unit of 450 square feet with a higher sales price to square foot price of $469.00
  • Galt Ocean Mile 1 bedroom unit sold over the last 6 months has been $275,000 – this being for a 1 bedroom 1 bathroom unit of 1047 square feet with a sales price to square foot price of $401.00 – In our last post the median sales price for a 1 bedroom unit was slightly higher at $276,250 – this being for a 1 bedroom 1 bathroom unit of 1052 square feet with a much lower sales price to square foot price of $287.00
  • Galt Ocean Mile 2 bedroom unit sold over the last 6 months has been $493,000 – this being for a 2 bedroom 2 bathroom unit of 1525 square feet with a sales price to square foot price of $340.00 – In our last post the median sales price for a 2 bedroom unit was lower at $475,000 – this being for a 2 bedroom 2 bathroom unit of 1562 square feet with a lower sales price to square foot price of $302.00
  • Galt Ocean Mile 3 bedroom unit sold over the last 6 months has been $922,500this being for a 3 bedroom 2 bathroom unit of 2140 square feet with a sales price to square foot price of $459.00 – In our last post the median sales price for a 3 bedroom unit was higher at $960,000 – this being for a larger 3 bedroom 2 bathroom unit of 2260 square feet with a lower sales price to square foot price of $411.00
Galt Ocean Mile condo sales Last 6 Months November 2019 to April 2020
Number of Galt Ocean Mile condo sales Last 6 Months November 2019 – April 2020 by Month

Galt Ocean Mile
Condo Sales

There have been 116 sales of Galt Ocean Mile condos in Fort Lauderdale over the last 6 months  – this being from the 1st of November 2019 to the 30th of April 2020

It is important to note that the number of Galt Ocean Mile condos sold over the last 6 months is down from 129 sales in our last post which covered sales from the 1st of July 2019 to the 31st of December 2019!

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
Nov 2019 13
Dec 2019 25
Jan 2020 22
Feb 2020 20
Mar 2020 26
Apr 2020 10
TOTAL 116

Again it is important to note that sales of Galt Ocean Mile condos had been strong from December to March – with April slowing – in my mid a direct a result of the Covid 19 Virus. 

I also note that many of the sales in March & April were for units being negotiated and/or under contract in January / February 2020.

View Galt Ocean Mile Fort Lauderdale
View of our famous Galt Ocean Mile here in Fort Lauderdale, Florida

Galt Ocean Mile
Condo Sales Data

Our market analysis report showing the MLS sales data for the 116 Galt Ocean Mile condos sold over the last 6 months is presented below:

BEDS / BATHS LA SP$
Min 0 / 1 340 $172,900
Max 4 / 4 4,475 $3,715,000
Avg 2 / 2 1,544 $610,170
Median 2 / 2 1,500 $489,000

We can see from this report that the median sales price over the last 6 months has been $489,000 – this being for a 2 bedroom 2 bathroom unit of 1500 square feet

It is very important to note that median sales prices are well up from our last 2 posts!

In our last post the median sales price over the last 6 months was higher at $440,000 – this being for a 2 bedroom 2 bathroom unit of 1442 square feet

In our prior post the median sales price over the last 6 months was higher at $448,250 – this being for a 2 bedroom 2 bathroom unit of 1435 square feet

View Galt Ocean Mile condo sold 2019 Regency Tower South
Look at the great views from this Galt Ocean Mile condo sold in 2019 in Regency Tower South!

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 $181.00
Max $1,122.00
Avg $378.00
Median $351.00

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 $351.00 per square foot – It is also important to note that the median is up from $313.00 in our last post and $321.00 as in our prior 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 77%
Max 101%
Avg 94%
Median 94%

We can see from this report that  BOTH the average and median sales price to list price for a Galt Ocean Mile condos sold  over the last 6 months has been 94% – this is the same as in our last 2 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 94% of that amount or $470,000.

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 462
Avg 102
Median 73

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 102 days.

More importantly is the median days on market at 73 days or just over 10 week this is down from 85 days in our last post and 100 days in our prior post!

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 were into a solid sales Season for Galt Ocean Mile condos from December to March – however the impact of Covid 19 has slowed our market considerably.

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.