View from one of the Ocean Riviera condos for sale here on Galt Ocean Mile in Fort Lauderdale

Ocean Riviera Condos

Ocean Riviera Condos
Fort Lauderdale

Welcome to our February / March 2016 post of Ocean Riviera condos for sale.

Fort Lauderdale condos for sale here in Ocean Riviera are direct oceanfront units set right on the Galt Ocean Mile Beachfront.

Search Ocean Riviera Condos 

There are 9 condos currently for sale in this great direct oceanfront complex – 2 of which are are new listings.

There have been 3 sales in the last 6 months and 1 unit is currently pending sale. 

In this post we discuss units for sale, new listings, pending sales and also recent sales prices, sales prices by bedroom & sales prices per sq ft. 

We also discuss how long units are taking to sell (called days on market) – and how much buyers are paying for units (sales prices to list price %) as well as the highest prices paid for units over the last 6 months!

We also compare recent sales trends in The Riviera – Important information for both buyers and sellers!

Key Statistics for Buyers / Sellers

  • Prices from $269,000 – $729,000

Pricing Guide

  • Median List Price $459,900
    – 2 bedroom 2 bathroom unit
  • Median Sales Prices last 6 Months $260,000
    – 1 bedroom 1.5 bathroom unit
  • Median Sales to List Price 92%
  • Days on Market 84 Days
Entrance to Ocean Riviera condominium here on Galt Ocean Mile
Entrance to Ocean Riviera condominium here on Galt Ocean Mile

Ocean Riviera
Condos for Sale

The following market report is for the 9 x Fort Lauderdale condos for sale in the Ocean Riviera Fort Lauderdale

This is up slightly from the 8 units for sale as in our last post for December 2015 / January 2016

 $$ Beds/Baths SF/FF List Price
High 2 / 2 1,656 $729,000
Low 1 / 1 1,076 $269,000
Avg 2 / 2 1,413 $445,321
Med 2 / 2 1,575 $459,900


We can see from the market report that the median price for a unit currently for sale is $459,900
  – this being based on a 2 bedroom 2 bathroom unit of 1575 square feet with a list price to square foot price of $291.00

We can also see from this post that the highest priced unit is offered for sales for $729,000 and the lowest priced unit is offered for sale for $269,000.

Square Foot Prices
Condos for Sale

Here is our market summary report showing square foot prices for Fort Lauderdale Condos here in The Riviera

 $$ LP$/SqFt
High $450
Low $250
Avg $321
Med $291


What we can see from this report is the spread of prices from $250.00 – $450.00 with the median at $291.00 per square foot.

Important to factor into these prices is the units condition, location in the building (stack) and views.

View of Ocean Riviera condominium Fort Lauderdale
View of Ocean Riviera condominium Fort Lauderdale

Ocean Riviera
Condo Median Prices

Here is the market summary report showing median prices by bedroom for condos here in the Riviera.

Beds/Baths SF/FF List Price LP$/SqFt
1 / 1 1,076 $275,000 $256
2 / 2 1,620 $549,000 $349

We can see from this report that the median price for:

  • A 1 Bedroom 1 Bathroom 1076 square foot unit is $275,000with a list price to square foot price of $256.00 – Note both these numbers are down from our last 2 posts!   In our last post the median was $299,900 – with a list price to square foot price of $288.00 .  In our earlier post the median was $309,900 – with a list price to square foot price of $293.00
  • A 2 Bedroom 2 Bathroom 1620 square foot unit for sale is $549,000with a list price to square foot price of $349.00 – Note the median price is the same as in our last post but is still down from our earlier post when the median was $618,000 – however the  list price to square foot price at $349.00 is the same as in our last post!
View from a Fort Lauderdale oceanfront condo just listed for sale in Riviera
View from a Fort Lauderdale oceanfront condo just listed for sale in Riviera

Ocean Riviera
New Condo Listings

There have been 2 new listings of condos for sale here in Ocean Riviera in the last 30 days.

Our market summary report for these new listings is presented below:

Condo  Beds/Baths SF/FF List Price
Unit 606 2 / 2 1,656 $672,000
Unit 809 1 / 1 1,076 $299,990

 

We can see from this report the details for both these new listings:

  • Unit 606 a 2 bedroom unit has been listed for sale for $672,000 – this 2 bedroom 2 bathroom 1656 square foot unit has a list price to square foot price of $406.00.  This is the first time this condo has been on the market.  The unit offers a South exposure with ocean and city views and features: impact windows, a washer/dryer, Bosch A/C, an environmental water system, custom made imported closets and a Neorest-heated toilet in master bedroom.
  • Unit 809 a 1 bedroom unit has been listed for sale for $299,990this 1 bedroom 1 bathroom 1076 square foot unit has a list price to square foot price of $279.00.  This condo has tile floors throughout, as well as custom window treatments and mirrors.   The unit is offereds for sale fully furnished.  Both baths upgraded. This condo is a bright and airy unit with a great ocean view from the balcony and master bedroom.  

Kevin Wirth Fort Lauderdale Realtor

Buying / Selling?
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Kevin Wirth – Realtor
954-459-0337

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Search Galt Ocean Mile Condos 
View Galt Ocean Mile New Listings
Terrace and ocean views from a condo pending sale in Ocean Riviera
Terrace and ocean views from a condo pending sale in Ocean Riviera

Ocean Riviera
Pending & Recent Sales

We review and discuss the data for sales of Ocean Riviera Condos below – including pending sales and sales over the last 6 months below.

Ocean Riviera Condos
Pending Sales

There is currently 1 unit pending sale here in Ocean Riviera. 

The market analysis report for this unit is presented below.

Beds/Baths SF/FF List Price LP$/SqFt
1 / 1 1,076 $329,000 $306


We can see from this report that
Riviera condo unit 504 a 1 bedroom 1 bathroom unit offered for sale at $329,000 is now pending sale.

This 1076 square foot unit had a list price to sq ft price of $306.00

This Fort Lauderdale condo is a 1 bedroom, 1.5 bathroom unit at one of the premier addresses on the Galt Ocean Mile, The Riviera.

You will love the spectacular sunrise and sunset views from your private balcony and ocean views from every room. The unit has a fully renovated kitchen – perfect for entertaining!

This condo had 129 days on market.

Ocean Riviera
Sales Last 12 Months

There have been 3 sales of condos here in Ocean Riviera in the last 6 months  – all one bedroom units.

The market analysis report for these sales is presented below.

$$  Beds/Baths SF/FF Sale Price
High 1 / 1 1,076 $300,000
Low 1 / 1 1,076 $255,000
Avg 1 / 1 1,076 $271,667
Med 1 / 1 1,076 $260,000

 

We can see from this report that the median sales price has been $260,000  – this being for a 1076 square foot 1 bedroom 1 bathroom unit.

In our last post the median sales price was $275,000 – this being for a 1076 square foot 1 bedroom 1 bathroom unit.

Square Foot Prices
Condos Sold

Here is our market summary report showing square foot prices paid for Fort Lauderdale Condos sold in The Riviera over the last 6 months.

$$  SP$/SqFt
High $279
Low $237
Avg $258
Med $258


We can see from this report that the median sales price to square foot price paid for a The Riviera condo sold over the last 6 months has been $258.00 – this is well up from $223.00 per square foot as per our last post.

 

% Sales to List Price

An important real estate indicator is how much  buyers are paying for Fort Lauderdale Condos for sale here in The Riviera – 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$/LP$
Avg 92%
Med 92%


We can see from this report that the median sales price to list price for Fort Lauderdale condo here in The Riviera  has been 92% – this is down from 93% in our last post! 

This means if the condo is listed for sale for $350,000 – then based on the median it could be expected to sell for $322,000!

Days on Market

Days on market for Condos for Sale in The Riviera is an important indicator of demand for units in this complex.

Here is the market analysis report for Days on Market based on condo sales over the last 6 months.

$$  Days on Market
Avg 98
Med 84


We can see from this report that the median days on market Fort Lauderdale condo for sale in The Riviera over the last 6 months has been 84 days – or just under 3 months!

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

Kevin Wirth Realtor outside Galt Ocean Mile condominiums

My Thoughts / Summary

Riviera is a great mid century oceanfront complex set right on the beach here on Galt Ocean Mile.

Currently with 9 units for sale we have a really great range of units to choose from.

There are some particularly nice 1 and 2 bedroom units for sale – including “absolute” direct oceanfront units!

Ocean Riviera condos for sale offer a real “mid century charm” that is hard to duplicate in oceanfront condos for sale here in Fort Lauderdale!

 

I hope you have enjoyed my Post on Fort Lauderdale condos for sale here in Ocean Riviera – By Kevin Wirth Realtor