View of Galt Ocean Mile condo here in Fort Lauderdale FL

Galt Ocean Mile Condos Sales Sept 2018 – Feb 2019

Galt Ocean Mile
Condos Sales Update

In this our March 2019 post we review recent sales of Galt Ocean Mile condos over the last 6 months (1st of September 2018 to 28th February 2019) and I share my thoughts on these statistics.

Key Sales Statistics
for Buyers / Sellers

  • 119 Units Sold over the Last 6 Months
  • Sales Prices from $168,500 – $4,650,000

Median Sales Prices

  • Sales Price last 6 Months $440,000 
    -2 Bedroom 2 Bathroom Unit
  • Sales Price to Sq Foot Price $310.00
  • Sales Price to List Price 94%
  • Days on Market 78 Days

Important to note sales in December were strong with 25 x Galt Ocean Mile condos sold!

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 in Plaza South
View 2 bedroom Galt Ocean Mile condo recently sold in Plaza South

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 $170,000 $478.00
1 / 1 1,076 $270,000 $278.00
2 / 2 1,600 $500,000 $331.00
3 / 2 2,086 $720,000 $390.00

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 $170,000 – this being for a unit of 450 square feet with a sales price to square foot price of $478.00 – In our last post the median sales price for a studio unit was higher at $218,000 – this being for a unit of 525 square feet with a sales price to square foot price of $384.00
  • Galt Ocean Mile 1 bedroom unit sold over the last 6 months has been $270,000 – this being for a 1 bedroom 1 bathroom unit of 1076 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 $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
  • 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 1600 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 the same at $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
  • Galt Ocean Mile 3 bedroom unit sold over the last 6 months has been $720,000this being for a 3 bedroom 2 bathroom unit of 2086 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 lower at $690,000 – this being for a 3 bedroom 2 bathroom unit of 2109 square feet with a sales price to square foot price of $400.00
Galt Ocean Mile condo sales last 6 Months - September 2018 - February 2019
Galt Ocean Mile condo sales last 6 Months – September 2018 – February 2019

Galt Ocean Mile
Condo Sales

There have been 119 sales of Galt Ocean Mile condos in Fort Lauderdale over the last 6 months to the end of February 2019- down from our last 4 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
Sep 2018 19
Oct 2018 22
Nov 2018 20
Dec 2018 25
Jan 2019 16
Feb 2019 17
TOTAL 119

Again it is important to note that sales are typically slow in both January and February reflecting the absolute “Seasonality” of sales here on our famous Galt Ocean Mile!

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 119 Galt Ocean Mile condos sold over the last 6 months is presented below:

BEDS / BATHS LA SP$
Min 0 / 1 310 $168,500
Max 4 / 5 4,542 $4,650,000
Avg 2 / 2 1,441 $523,896
Median 2 / 2 1,435 $440,000

We can see from this report that the median sales price over the last 6 months has been $440,000 – this being for a 2 bedroom 2 bathroom unit of 1435 square feet – The median is down from our last post!

In our last post the median sales price over the last 6 months was higher at $470,000 – this being for a 2 bedroom 2 bathroom unit of 1473 square feet

It is important to note that median prices had 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 $174.00
Max $1,024.00
Avg $341.00
Median $310.00

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 $310.00 per square foot – down from our last posts!

It is important to note that this is down from a median of $322.00 in our last post, $326.00 in our prior post and $334.00 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 77%
Max 101%
Avg 93%
Median 94%

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 94%

It is very important to note that the median is down from 95% as in our last 10 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 519
Avg 95
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 95 days or just over 3 months.

More importantly is the median days on market at 78 days or just over 11 weeks – which is down from 86 days or just under 3 months as in our last post – 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 especially in December 2018 – which can be slow.

As we are now in “Season” – and I am sure our next report will show some good sales numbers!

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.