View Galt Ocean Mile condo for sale Ocean Riviera Fort Lauderdale

Ocean Riviera Condos

Ocean Riviera Condos
Fort Lauderdale

Welcome to our August / September 2017 post of Ocean Riviera condos for sale Fort Lauderdale.

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

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There are 7 condos currently for sale in this great direct oceanfront complex – 2 of these are new listings

There have been 6 sales in the last 6 months – and 2 units are 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 $249,999 – $519,900

Pricing Guide

  • Median List Price $475,000
    – 2 bedroom 2 bathroom unit

Median Sales Prices

  • Sales Price to Square Foot Price $260.00
  • Median Sales to List Price 94%
  • Days on Market 116 Days
View Riviera condo for sale Galt Ocean Mile in Ocean Riviera
View Riviera condo for sale Galt Ocean Mile in Ocean Riviera

Ocean Riviera
Condos for Sale

The following market report is for the 7 x Fort Lauderdale oceranfront condos for sale in the Ocean Riviera Fort Lauderdale

In our last post on Riviera Condos for Sale for June / July 2017 there were 8 units for sale!

Our market analysis report for these units is presented below:

BEDS / BATHS LA LP$
Min 1 / 1 1076 $249,999
Max 2 / 2 1656 $519,900
Avg 2 / 2 1561 $451,400
Median 2 / 2 1656 $475,000

We can see from the market report that the median price for a unit currently for sale is $475,000  – this being based on a 2 bedroom 2 bathroom unit of 1656 square feet with a list price to square foot price of $302.00 – up slightly from our last post!

In our last post the median price for a unit for sale was $474,950  – this being based on a 2 bedroom 2 bathroom unit of 1656 square feet with a list price to square foot price of $299.00

We can also see from this post that the highest priced unit is offered for sales for $519,900 and the lowest priced unit is offered for sale for $249,999.

View Ocean Riviera condominium from Galt Ocean Drive Fort Lauderdale
View Ocean Riviera condominium from Galt Ocean Drive Fort Lauderdale

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
Min $232.00
Max $314.00
Avg $286.00
Median $302.00

What we can see from this report is the spread of prices from $232.00 – $314.00 with the median at $302.00 per square foot.

In our last post the median list price to square foot price was $299.00

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

Ocean Riviera
Condo Median Prices

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

BEDS / BATHS LA LP$ LP$/SqFt
1 / 1 1076 $249,999 $232.00
2 / 2 1656 $490,000 $303.00

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

  • 1 Bedroom Ocean Riviera condos for sale is $249,999 – this being for a 1 Bedroom 1 Bathroom 1076 square foot unit with a list price to square foot price of $232.00.  In our last post the median for 1 Bedroom Ocean Riviera condos for sale was higher at $314,500 – this being for a 1 Bedroom 1 Bathroom 1076 square foot unit with a list price to square foot price of $292.00.
  • 2 Bedroom Ocean Riviera condos for sale is $490,000 – this being for a 2 Bedroom 2 Bathroom 1656 square foot unit with a list price to square foot price of $303.00.  In our last post the median for 2 Bedroom Ocean Riviera condos for sale was a little lower at $487,450 – this being for a 2 Bedroom 2 Bathroom 1656 square foot unit with a list price to square foot price of $299.00.
View 2 bedroom Galt Ocean Mile condo just listed for sale in Ocean Riviera Fort Lauderdale
View 2 bedroom Galt Ocean Mile condo just listed for sale in Ocean Riviera Fort Lauderdale

Ocean Riviera
New Condo Listings

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

In our last post there were also 2 new listings of Riviera condos for sale – these being units 906 and 904.

Our market summary report for the 2  new Galt Ocean Mile listings is presented below:

CONDO BEDS / BATHS LA LP$
Unit1406 2 / 2 1656 $505,000
Unit 308 1 / 1 1076 $249,999

We can see from this report that

Unit 1406 a 2  bedroom Riviera condo has just been listed for sale for $505,000 – this being a 2 bedroom 2 bathroom 1656 square foot condo with a list price to square foot price of $305.00

This Galt Ocean Mile condo for sale is a spectacular corner unit with the best ocean and city views.  This Southwest corner unit is completely renovated and is move in ready.   The unit features: Bamboo floors and Granite counter-tops. 

Unit 308 a 1  bedroom Riviera condo has just been listed for sale for $249,999 – this being a 1 bedroom 1 bathroom 1076 square foot condo with a list price to square foot price of $232.00

This Galt Ocean Mile condo for sale has a Northeast exposure and an ocean view,   The unit has spacious balcony and impact windows throughout.  The unit comes with extra storage unit on floor. 

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

 

View Ocean Riviera condo pending sale Galt Ocean Mile - Unit 303
View Ocean Riviera condo pending sale Galt Ocean Mile – Unit 303

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 are currently 2 units pending sale here in Ocean Riviera – both 1 bedroom units!

In our last post there were 3 units pending sale – Unit 1502, Unit 1405 – both 2 bedroom units and Unit 303 a 1 bedroom unit!

Our market summary report for these 2 x 1 bedroom units is presented below:

CONDO BEDS / BATHS LA LP$
Unit 904 1 / 1 1076 $339,000
Unit 303 1 / 1 1076 $244,900
Median 1 / 1 1076 $291,950

We can see from this report that a :

Unit 904 a 1  bedroom Riviera condo listed for sale for $339,000 is now pending sale  – this being a 1 bedroom 1 bathroom 1076 square foot condo with a list price to square foot price of $315.00

This Galt Ocean Mile condo pending sale is a beautiful large condo with ocean views and a spacious balcony with a Southeast exposure!  

This unit has been completed remodeled and features: a brand new kitchen, new flooring, bathrooms, hurricane impact doors and windows.   This is a rare unit as it has its own washer and dryer inside the hallway closet. 

Unit 303 a 1 bedroom Riviera condo listed for sale for $244,900 is also now pending sale – this being a 1 bedroom 1 bathroom 1076 square foot condo with a list price to square foot price of $228.00

This Galt Ocean Mile condo pending is a large 1 bedroom 1.5 bathroom unit with a Southeast exposure and great ocean and pool views.  

The unit has impact windows throughout and there is a washer & dryer in the unit. The unit comes with extra storage unit on your floor. 

Look at the views from this Fort Lauderdale oceanfront condo recently sold in Riviera - Unit 1405
Look at the views from this oceanfront condo recently sold in Riviera – Unit 1405

Ocean Riviera
Sales Last 6 Months

There have been 6 sales of condos here in Ocean Riviera in the last 6 months – this is well up from 3 sales over the preceding 6 months as per our last post!

The market analysis report for these sales is presented below.

BEDS / BATHS LA SP$
Min 1 / 1 1076 $250,000
Max 2 / 2 1656 $430,000
Avg 1.5 1339 $351,333
Median 1.5 1325 $369,000

We can see from this report that the median sales price for a condo sold here in Riviera over the last 6 months has been $369,000. 

We can see from this report that the median sales price for a condo sold here in Riviera over the last 6 months has been $328,000  – this being for a 1076 square foot 1 bedroom 1 bathroom unit.

Because this month we have 3 sales of 2 bedroom units and 3 sales of 1 bedroom units – the median is 1.5. 

Based on the 1.5 median it is more useful to look at median sales prices by bedroom which we do below.

Ocean Riviera Condos
Median Sales Prices

Here is the market summary report showing median sales prices by bedroom for condos sold here in the Riviera over the last 6 months!

BEDS / BATHS LA SP$ SP$/SqFt
1 / 1 1076 $275,000 $256.00
2 / 2 1575 $415,000 $263.00

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

  • 1 Bedroom Ocean Riviera condos sold is $275,000 – this being for a 1 Bedroom 1 Bathroom 1076 square foot unit with a sales price to square foot price of $256.00.  
  • 2 Bedroom Ocean Riviera condos sold is $415,000 – this being for a 2 Bedroom 2 Bathroom 1575 square foot unit with a list price to square foot price of $263.00.  

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
Min $232.00
Max $305.00
Avg $263.00
Median $260.00

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 $260.00 – up from $255.00 in our last post!

We can also see that the highest square foot price paid has been $305.00

% 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$/LP$
Min 91%
Max 99%
Avg 94%
Median 94%

We can see from this report that the median sales price to list price for Fort Lauderdale condo here in The Riviera  has been 94%  – down from 95% in our last post!

This means if the condo is listed for sale for $450,000 – then based on the median MLS prices it could be expected to sell for 95% of its list price or $423,000!

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.

DOM
Min 7
Max 309
Avg 152
Median 116

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 116 days or just under 4 months!

It is important to note that in our last post the median days on market was 295 days or just under 10 months!

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

Ocean Riviera
Condo Sales Itemized

Here is the data for each of the condos sold over the last 6 months here in Ocean Riviera

CONDO BEDS / BATHS LA SP$
Unit 1405 2 / 2 1575 $430,000
Unit 802 2 / 2 1575 $415,000
Unit 1406 2 / 2 1656 $410,000
Unit 1608 1 / 1 1076 $328,000
Unit 409 1 / 1 1076 $275,000
Unit 609 1 / 1 1076 $250,000

We can see from this report the details for each condo sold – including the most expensive sale over the last 6 months, which was for unit 1405 a 2 bedroom 2 bathroom condo which sold for $430,000!

Unit 1405 sold for 99% of list price and had 115 days on market!

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.

We currently have a great range of units for sale with 7 condos for sale – some of which offer outstanding value and views!

Sales over the last 6 months have picked up with 6 units sold – this is a big increase over our prior post when just 3 units had been sold over the preceding 6 months! 

Days on market is also well down at 116 days!

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