View of luxury Fort Lauderdale condos here on Galt Ocean Mile

Luxury Galt Ocean Mile Sales Update January 2018

Welcome to our January 2019 update on Luxury Galt Ocean Mile condo sales / Oceanfront Zip 33308 condos sold over the last 3 months – or from the 1st of October 2018 to the 31st of December 2018.

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 2019 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 $577,500 – well down from $630,000 in our last post!
  • For Luxury 3 bedroom Galt Ocean Mile condos the median sales price is $705,000 well down from $760,000 as in our last post!

Galt Ocean  Mile offers a great range of luxury Fort Lauderdale condos for sale with prices from $500,000 to $5,000,000!

In the last 90 days  / 3 Months there have been 27 x Luxury Galt Ocean Mile condos sold – down from our 33 sales in last post!


Search Galt Ocean Mile Condos for Sale

Galt Ocean Mile Condos
Luxury Sales – Last 3 Months

There have been 27 x Luxury Galt Ocean Mile condos sold here in Fort Lauderdale from the 1st of October 2018 to 31st of December 2018 – this is down from 33 sales of Luxury Galt Ocean Mile condo sale as in our last post!

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

BEDS / BATHS LA SP$
Min 2 / 2 1,433 $500,000
Max 4 / 5 4,542 $4,650,000
Avg 2 / 2 1,855 $821,465
Median 2 / 2 1,675 $635,000

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 $821,465 – this being for a 2 bedroom 2 bathroom condo of 18555 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 $635,000 – this being for a 2 bedroom 2 bathroom condo of 1675 square feet

It is important to note that the median sales price is well 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 preceding 90 days was $652,500 – this being for a 2 bedroom 2 bathroom condo of 1988 square feet

In our last post covering Luxury Galt Ocean Mile condos sales the median sales price for luxury Galt Ocean Mile condos sold over the preceding 90 days was $768,750 – this being for a 2 bedroom 2 bathroom condo of 1988 square feet

In my mind one of the reasons for the drop in median sales price is that we are now “Out of Season” and the lower number of sales during this period also tend to be for lower priced units.

View 3 bedroom luxury Galt Ocean Mile condo recently sold L'Ambiance
Sweeping views from this 3 bedroom luxury Galt Ocean Mile condo recently sold in L’Ambiance

June 2018 – August 2018
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 1,634 $577,500 $379.00
3 / 2 1,977 $705,000 $422.00

For Luxury 2 bedroom condos the median price is $577,500 – this being for a 2 bedroom 2 bathroom unit of 1634 square feet with a sales price to square foot price of $379.00 – this is well down from our last post when the median was $630,000 – this being for a 2 bedroom 2 bathroom unit of 1615 square feet with a sales price to square foot price of $402.00

For Luxury 3 bedroom condos the median price is $705,000 this being for a 3 bedroom 2 bathroom unit of 1977 square feet with a sales price to square foot price of $422.00 – this is also well down from our last post when the median was $760,000 – this being for a 3 bedroom 2 bathroom unit of 2159 square feet with a sales price to square foot price of $414.00

View luxury Galt Ocean Mile condo recently sold L'Hermitage
View luxury Galt Ocean Mile condo recently sold here in L’Hermitage, Fort Lauderdale, Florida

Square Foot Prices
Condos Sold

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

SP$/SqFt
Min $205.00
Max $1,024.00
Avg $428.00
Median $391.00

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 $391.00

It is important to note that this is down from our last post when the median was $409.00!

% 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 77%
Max 100%
Avg 92%
Median 95%

We can see from this report that average sales price to list price has been 92% –  down from 94% as in our last post!

We can also see from this report that median sales price to list price has been 95% – which is the same as in our last 4 posts!

A sales price to list price of 95% 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 $950,000.

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 9
Max 519
Avg 146
Median 107

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 146 days or just under 5 months!

We can also see that the median days on market has been 107 days or just under 4 Months  – this is up from 82 days in our last post!

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 great range of Luxury Galt Ocean Mile condos for sale / Zip 33308 condos for sale – including some really nice units, well priced and ready for updating!

Median sales prices have softened – reflecting our “Out of Season” sales market – which is typical for this period!

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 © 2018 Realtors of the Palm Beaches and Greater Fort Lauderdale Multiple Listing Service Inc.