View from one of the Ocean Riviera condos for sale Fort Lauderdale

Ocean Riviera Condos

Ocean Riviera Condos
Fort Lauderdale

Welcome to our December 2016  / January 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 – 1 of these is a new listing, a 1 bedroom unit.

There have been 4 sales in the last 6 months. 

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 $299,900 – $519,900

Pricing Guide

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

Median Sales Prices

  • Last 6 Months $320,000
  • Sales Price to Square Foot Price $296.00
  • Median Sales to List Price 97%
  • Days on Market 133 Days

Featured Listing
Riviera Condo Unit 1107

Immaculate 2 Bedroom / 2 Bathroom corner unit!…

Offered at $450,000 – The best value in Ocean Riviera!

The owner has lovingly maintained this home!  Features include: newer hurricane impact windows that flood the home with light.

The unit boasts a large formal entry foyer, spacious living room, formal dining room, and generous sized bedrooms.

The Master has an ensuite dressing area, and walk-in closet.

The private balcony showcases city and ocean views!!!

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

The number of Riviera Condos for Sale is down slightly from the 8 units for sale in our last post for Oct / Nov 2016 – but down from the 10 units for sale as in our post for May / June 2016

 $$ Beds/Baths SF/FF List Price
High 2 / 2 1,656 $519,900
Low 1 / 1 1,076 $299,900
Avg 2 / 2 1,545 $443,386
Med 2 / 2 1,656 $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

Note median prices have softening a little since our last 2 posts!

In our last post the median price for a unit for sale was $484,500 – this being based on a 2 bedroom 2 bathroom unit of 1615 square feet with a list price to square foot price of $308.00

In our prior post the median price for a unit for sale was $482,450 – this being based on a 2 bedroom 2 bathroom unit of 1575 square feet with a list price to square foot price of $300.00

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 $299,900.

Pool views from a Galt Ocean Mile condo for sale in Riviera
Pool views from a Galt Ocean Mile condo for sale in Riviera

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 $316
Low $272
Avg $300
Med $302

What we can see from this report is the spread of prices from $272.00 – $316.00 with the median at $302.00 per square foot.

In our last post the median list price to square foot price was $308.00

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 SF/FF List Price LP$/SqFt
1 / 1 1,076 $339,900 $316
2 / 2 1,656 $519,900 $314

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

  • 1 Bedroom Ocean Riviera condos for sale is $399,900 – this being for a 1 Bedroom 1 Bathroom 1076 square foot unit with a list price to square foot price of $316.00.  In our last post the median for 1 Bedroom Ocean Riviera condos for sale was lower at $299,900 – this being for a 1 Bedroom 1 Bathroom 1076 square foot unit with a list price to square foot price of $279.00
  • 2 Bedroom Ocean Riviera condos for sale is $519,900 – this being for a 2 Bedroom 2 Bathroom 1656 square foot unit with a list price to square foot price of $314.00.  In our last post the median for 2 Bedroom Ocean Riviera condos for sale was lower at $499,999 – this being for a 2 Bedroom 2 Bathroom 1656 square foot unit with a list price to square foot price of $313.00.
View Fort Lauderdale oceanfront condo just listed for sale in Riviera
View Fort Lauderdale oceanfront condo just listed for sale in Riviera

Ocean Riviera
New Condo Listings

There have been 1 new listing of a condo for sale here in Ocean Riviera in the last 30 days – this is the same number of new listings as in our last 3 posts!

Our market summary report for this new listing is presented below:

Beds/Baths SF/FF List Price LP$/SqFt
1 / 1 1,075 $339,900 $316


We can see from this report that a 1 bedroom unit has just been listed for sale for $339,900
this being for a 1 bedroom 1 bathroom 1075 square foot condo has a list price to square foot price of $316.00

This Galt Ocean Mile condo for sale is a beautiful unit with ocean views on the 16th floor.

The unit is a 1 bedroom 1 1/2 bathroom condo that has just undergone / completed a remodel.  The unit features: a brand new kitchen with new washer & dryer, new wine cooler, new heater, new kitchen cabinets.

There is the same tile floor in all apartment, as well as new full bath with 2 sinks and a column shower!

 

Kevin Wirth Fort Lauderdale Realtor

Buying / Selling?
Call Me Today!

Kevin Wirth – Realtor
954-459-0337

Click here to email me now

Search Galt Ocean Mile Condos 
View Galt Ocean Mile New Listings

 

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 no units pending sale here in Ocean Riviera – In our last post there were also no units pending sale.

Ocean Riviera
Sales Last 6 Months

There have been 4 sales of condos here in Ocean Riviera in the last 6 months  – this is down from 8 sales in our last post!

The market analysis report for these sales is presented below.

$$  Beds/Baths SF/FF Sale Price
High 2 / 2 1,650 $475,000
Low 1 / 1 1,076 $290,000
Avg 2 / 2 1,344 $351,250
Med 2 / 2 1,325 $320,000


We can see from this report that the median sales price for a Galt Ocean Mile condo in Riviera has been
$320,000  – this being for a 1325 square foot 2 bedroom 2 bathroom unit.

In our last post the median sales price was $330,450 – this being for a 1325 square foot 2 bedroom 2 bathroom unit.

It is important to note that with only 4 units being sold – 2 x 1 bedroom units and 2 x 2 bedroom units that both the average and median data become much more aggregated.

It is often times more useful to look at median data by bedroom – which we do below.

View from a Galt Ocean Mile condo recently sold here in Ocean Riviera
View from a Galt Ocean Mile condo recently sold here in Ocean Riviera

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 SF/FF Sale Price SP$/SqFt
1 / 1 1,076 $315,000 $293
2 / 2 1,612 $387,500 $246

We can see from this report that the median sales prices for:

  • 1 Bedroom Ocean Riviera condos sold has been $315,000 – this being for a 1 bedroom 1 bathroom 1076 square foot unit with a sales price to square foot price of $293.00.  In our last post the median sales price for 1 Bedroom units sold was lower at $305,450 – this being for a 1 bedroom 1 bathroom 1076 square foot unit with a sales price to square foot price of $298.00.
  • 2 Bedroom Ocean Riviera condos sold has been $387,500 – this being for a 2 bedroom 2 bathroom 1612 square foot unit with a sales price to square foot price of $246.00.  In our last post the median sales price for 2 Bedroom units sold was $472,500 – this being for a 2 bedroom 2 bathroom 1620 square foot unit with a sales price to square foot price of $296.00.

Note: In the 2 bedroom unit sales is data for Unit 102 – this condo sold for a higher over all “gross” price as the buyers agreed to pay the sellers additonal amounts including an amount to pay off arrears in taxes.

The sale of Unit 102 thus records the “net” amount paid!

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 $316
Low $190
Avg $269
Med $286

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 $286.00 – see below!

As outlined above the sale of Unit 102 has impacted both average and median sales prices!

If we adjust and remove Unit 102 from the sales price to square foot pricing data we get $296.00!

% 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$/LP$
High 100%
Low 66%*
Avg 97%
Med 97%


We can see from this report that the median sales price to list price for Fort Lauderdale condo here in The Riviera  has been 97% 

This means if the condo is listed for sale for $400,000 – then based on the median MLS prices it could be expected to sell for 97% of its list price or $388,000!

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
High 291
Low 44
Avg 150
Med 133

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 133 daysdown from 165 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.

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 SF/FF Sale Price
Unit 905 2 / 2 1,650 $475,000
Unit 102* 2 / 2 1,575 $300,000
Unit2008 1 / 1 1,076 $340,000
Unit 904 1 / 1 1,076 $290,000

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 905 a 2 bedroom 2 bathroom condo which sold for $475,000

Note: Unit 102 was listed for $449,900 and had a “net” sale amount of $300,000 – which did not / does not include other amounts the buyers paid as part of the purchase of this unit!

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!

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