View of luxury Fort Lauderdale condos here on Galt Ocean Mile

Luxury Galt Ocean Mile Condos – July 2017

Luxury Fort Lauderdale condos for sale here on Galt Ocean Mile 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.

Search Galt Ocean Mile Condos for Sale

 

Our Pricing Guide:

Here is our July / August 2017 pricing guide based on recent sales of luxury Galt Ocean Mile condos over the last 90 days…

  • For Luxury 2 bedroom Galt Ocean Mile condos the median sales price has been $550,000 – up from our last post!
  • For Luxury 3 bedroom Galt Ocean Mile condos the median sales price is $690,000  – well down from our last post!

Galt Ocean  Mile offers a great range of luxury Fort Lauderdale condos for sale with prices from $500,000 to over $1.3 Million dollars.

In the last 90 days  / 3 Months there have been 27 x Luxury Galt Ocean Mile condos sold – a solid increase over prior posts!

Oceanfront views from a luxury 3 bedroom Galt Ocean Mile condo recently sold in Southpoint - Unit 1402S
Views from a luxury 3 bedroom Galt Ocean Mile condo sold in Southpoint – Unit 1402S

Galt Ocean Mile Condos
Luxury Sales – Last 90 Days

There have been 27 x Luxury Galt Ocean Mile condos sold here in Fort Lauderdale over the last 90 days.

It is important to note that 27 sales is well up up from 20 luxury condos sold in our last post, 18 in our prior post and 16  Luxury Galt Ocean Mile condos as in our preceding post!

Here is our market summary for these 27 recent sales of Luxury Galt Ocean Mile “direct oceanfront” condos.

$$ BEDS / BATHS LA SP$
Min 2 / 2 1400 $500,000
Max 3 / 3 2661 $1,863,500
Avg 2 / 2 1937 $722,315
Median 2 / 2 1900 $620,100

We can see from this summary report that the average sales price for luxury Fort Lauderdale condos sold here on Galt Ocean Mile over the last 90 days has been $722 ,315- this being for a 2 bedroom 2 bathroom condo of 1937 square feet.

In our last post the average sales price for luxury Galt Ocean Mile condos over the preceding 90 days was higher at $757,586 – this being for a 2 bedroom 2 bathroom condo of 2050 square feet.

We can also see from this summary report that the median sales price for luxury condos sold here on Galt Ocean Mile over the last 90 days has been $620,000 – this being for a 2 bedroom 2 bathroom condo of 1900 square feet – this is down from our last 2 posts!

In our last post covering Luxury Galt Ocean Mile condos sales the median sales price for luxury Galt Ocean Mile condos sold over the last 90 days was higher at $640,000 – this being for a larger 2 bedroom 2 bathroom condo of 1903 square feet

In our prior post the median sales price for luxury Galt Ocean Mile condos sold over the last 90 days was higher at $687,500 – this being for a larger 2 bedroom 2 bathroom condo of 2125 square feet

View luxury Galt Ocean Mile condo recently sold L'Hermitage II Unit 2505
View luxury Galt Ocean Mile condo recently sold L’Hermitage II Unit 2505

July 2017 Median 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 90 days…

BEDS / BATHS LA SP$ SP$/SqFt
2 / 2 1662 $550,000 $335.00
3 / 2 2318 $690,000 $324.00

For Luxury 2 bedroom condos the median price is $550,000 – this being for a 2 bedroom 2 bathroom unit of 1662 square feet with a sales price to square foot price of $335.00 – up from our last post!

In our last post the median price was lower at $535,000 – this being for a 2 bedroom 2 bathroom unit of 1700 square feet with a sales price to square foot price of $327.27

For Luxury 3 bedroom condos the median price is $690,000 this being for a 3 bedroom 2 bathroom unit of 2318 square feet with a sales price to square foot price of $324.00 – down from our last post!

In our last post the median price was higher at $785,000 – this being for a 3 bedroom 2 bathroom unit of 2318 square feet with a sales price to square foot price of $339.86

Square Foot Prices
Condos Sold

Here is our market summary report showing square foot prices paid for Luxury Fort Lauderdale Condos sold here on Galt Ocean Mile over the last 3 months / 90 Days

$$ SP$/SqFt
Min $208.00
Max $700.00
Avg $367.00
Median $333.00


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 $323.00 –
 up from $323.00 in our last post.

It is important to note that while median sales price to square foot prices are up in this post – in our prior post the median was $358.00 and in our earlier post the median $375.00 per square foot!

% 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 83%
Max 108%
Avg 93%
Median 94%

We can see from this report that average sales price to list price has been 93% 

We can also see from this report that median sales price to list price has been 94% – which is down from 95% in our last post!

A sales price to list price of 94% means that is a luxury condo is listed for sale for $1,000,000 – then base on MLS data, the unit could be expected to sell for $940,000.

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 21
Max 506
Avg 118
Median 89

We can see from this report that the average days on market for a Luxury Fort Lauderdale condo sold on Galt Ocean Mile has been 118 days or just under 4 months!

We can also see that the median days on market has been 90 days or just on 3 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 really great range of Luxury Galt Ocean Mile condos for sale. including many updated units and several “Trophy” units!

We have had some great sales of luxury condos on the Galt over the last 90 days and it is great to see our sales volume on the rise.

I am pleased to report that sales of luxury 2 bedroom units have been strong and median sales prices are up…

Sales of luxury 3 bedroom units have been steady – but median prices are remain pretty soft – a reflection I believe of the increased inventory of luxury 3 bedroom units for sale along with the inventory of luxury new construction 3 bedroom units!

Read our last post on Luxury Galt Ocean Mile Condos

I hope you have enjoyed my post on Luxury Fort Lauderdale condos here on Galt Ocean Mile – Kevin Wirth Realtor