View of luxury Fort Lauderdale condos here on Galt Ocean Mile

Luxury Galt Ocean Mile Condos January 2020 Sales Update

Welcome to our January 2020 update on Luxury Galt Ocean Mile condos / Oceanfront Zip 33308 condos sold over the last 3 months – or from the 1st of October 2019 to the 31st of December 2019.

Luxury Galt Ocean Mile condos for sale here on Galt Ocean Drive  / Zip 33308 are absolute “direct oceanfront” units – they are literally set right on sand – right on the beachfront!

This “prime” location is home to many fine and luxurious condominium complexes.

Luxury Galt Ocean Mile Condos
Our Pricing Guide

Here is our January 2020 pricing guide based on recent sales of luxury Galt Ocean Mile condos – sales made over the last 3 months

  • For Luxury 2 bedroom Galt Ocean Mile condos the median sales price has been $592,000 up from $550,000 in our last post!
  • For Luxury 3 bedroom Galt Ocean Mile condos the median sales price is $1,102,500 up from $977,500 as in our last post!

Galt Ocean  Mile offers a great range of luxury Fort Lauderdale condos for sale with prices from $550,000 to $2,634,000!

In the last 90 days  / 3 Months there have been 16 x Luxury Galt Ocean Mile condos sold – well down from the 31 sales as in our last post!


Search Galt Ocean Mile Condos for Sale

Galt Ocean Mile Condos
Luxury Sales – Last 3 Months

There have been 16 x Luxury Galt Ocean Mile condos sold here in Fort Lauderdale from the 1st of October 2019 to 31st of December 2019

It is important to note that this is well down from the 31 sales of Luxury Galt Ocean Mile condos as in our last post for September 2019!

Here is our market summary for these 16 sales of Luxury Galt Ocean Mile “direct oceanfront” condos.

BEDS / BATHS LA SP$
Min 2 / 2 1,350 $508,000
Max 3 / 2 2,318 $1,315,000
Avg 2 / 2 1,831 $779,469
Median 2 / 2 1,800 $637,500

We can see from this summary report that the average sales price for luxury Galt Ocean Mile condos over the last 90 days has been $779,469 – this being for a 2 bedroom 2 bathroom condo of 1831 square feet

In our last post the average sales price for luxury Galt Ocean Mile condos over the preceding 90 days was higher at $838,919 – this however was for a larger 3 bedroom 2 bathroom condo of 1999 square feet

We can also see from this summary report that the median sales price for luxury Galt Ocean Mile condos sold over the last 90 days has been $637,500 – this being for a 2 bedroom 2 bathroom condo of 1853 square feet

In our last post the median sales price for luxury Galt Ocean Mile condos sold over the preceding 90 days was also higher $665,000 – this also being for a 3 bedroom 2 bathroom condo of 1853 square feet

View 3 bedroom Luxury Galt Ocean Mile condo recently sold Playa del Mar Galt Ocean Drive
View 3 bedroom Luxury Galt Ocean Mile condo recently sold Playa del Mar Galt Ocean Drive

October 2019 – December 2019
Luxury Condo Sales Prices By Bedroom

Here is our market summary report showing median sales prices by bedroom for luxury Galt Ocean Mile condos sold over the last 3 months.

BEDS / BATHS LA SP$ SP$/SqFt
2 / 2 1,620 $592,000 $390.00
3 / 2 2,140 $1,102,500 $582.00

For Luxury 2 bedroom Galt Ocean Mile condos the median sales price is $592,000 – this being for a 2 bedroom 2 bathroom unit of 1620 square feet with a sales price to square foot price of $390.00 – this is up from our last post.

In our last post the median for luxury 2 bedroom Galt Ocean Mile condos sold was lower at $550,000 – this being for a 2 bedroom 2 bathroom unit of 1662 square feet with a sales price to square foot price of $362.00

For Luxury 3 bedroom Galt Ocean Mile condos the median sales price was $1,102,500 this being for a 3 bedroom 2 bathroom unit of 2140 square feet with a sales price to square foot price of $582.00 – which is up from our last post!

In our last post the median for luxury 3 bedroom Galt Ocean Mile condos sold was $977,500 – this being for a 3 bedroom 2 bathroom unit of 2330 square feet with a sales price to square foot price of $406.00

View 2 bedroom Luxury Galt Ocean Mile condo recently sold Plaza East
Look at the view from this 2 bedroom Luxury Galt Ocean Mile condo recently sold in Plaza East!

Square Foot Prices
Condos Sold

Here is our market summary report showing square foot prices paid for Luxury Galt Ocean Mile condos sold over the last 3 months.

SP$/SqFt
Min $340.00
Max $623.00
Avg $435.00
Median $401.00

We can see from this report that the median sales price to square foot price paid for a luxury Galt Ocean Mile condo sold over the last 3 months has been $401.00

It is important to note that the median sales price to square foot price is up from our last post when the median was $385.00 and also from pur prior post when the median was $376.00!

% Sales to List Price

An important real estate indicators that is important to note is how much  buyers are paying for Luxury Fort Lauderdale Condos for sale here on Galt Ocean Mile – we can gauge this based on the percentage of sales price to list price paid by buyers.

The market analysis report for this is presented below

SP$/LP$
Min 88%
Max 101%
Avg 94%
Median 93%

We can see from this report that median sales price to list price has been 93% – this is down from 94% as in our last post!

A sales price to list price of 93% means that is a luxury condo is listed for sale for $1,000,000 – then based on MLS data, the unit could be expected to sell for $930,000.

Days on Market

Days on market for Luxury Galt Ocean Mile Condos for Sale is also an important indicator on how strong demand is for Fort Lauderdale condos for sale in this prime location.

Here is the market analysis report for Days on Market based on condo sales over the last 3 months.

DOM
Min 7
Max 572
Avg 153
Median 115

We can see from this report that the average days on market for a Luxury Galt Ocean Mile condos sold over the last 3 months has been 153 days or just over 5 months!

We can also see that the median days on market has been 115 days or just over 4 Months

Days on market is the time from when the condo was listed for sale till the condo sold AND closed.

Kevin Wirth Fort Lauderdale Realtor

My Thoughts  / Summary

Currently we have a excellent inventory of Luxury Galt Ocean Mile condos for sale / Zip 33308 condos for sale with 95 units on offer.

In this mix are some really nice updated units, penthouse units and also some very well priced condos ready for updating!

The last 3 months of 2019 has seen a drop in the number of sales / the sales volume for Luxury Galt Ocean Mile condos – this is typical for this time of year when we are out of “Season” and the “Holidays” are upon us!

It is important to note that despite this drop in sales volume, the median sales prices for BOTH Luxury Galt Ocean Mile 2 and 3 bedroom condos have risen over the last 3 months which is very positive.

Read our last post on Luxury Galt Ocean Mile Condos

I hope you have enjoyed my report on Luxury Fort Lauderdale condos here on Galt Ocean Mile – Kevin Wirth P.A. Realtor

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.