View of Fort Lauderdale condo for sale in The Riviera

Ocean Riviera Condos

Ocean Riviera Condos
Fort Lauderdale

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 8 condos currently for sale in this complex – 3 of which are new listings.

There have been 5 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 to 2014 sales. Important information for both buyers and sellers!

Key Statistics for Buyers / Sellers

  • Prices from $275,000 – $749,000

Pricing Guide

  • Median List Price $322,000
    – 1 bedroom 1.5 bathroom unit
  • Median Sales Prices last 6 Months $275,000
    – 1 bedroom 1.5 bathroom unit
  • Median Sales to List Price 93%
  • Days on Market 69 Days
View of the beach from Ocean Riviera Condominium here on Galt Ocean Mile in Fort Lauderdale
View of the beach from Ocean Riviera here on Galt Ocean Mile

Ocean Riviera
Condos for Sale

The following market report is for the 8 x Fort Lauderdale condos for sale in the Ocean Riviera Fort Lauderdale – the number of units for sale is double the 4 units for sale as per our last post for September / October 2015.

$$  Beds/Baths SF/FF List Price
High 2 / 2 1,656 $749,000
Low 1 / 1 1,076 $275,000
Avg 1 / 1 1,346 $414,113
Med 1 / 1 1,325 $322,000


We can see from the market report that the median price for a unit currently for sale is $322,000
 – down from our last 2 posts!

  • In our post for August / September the median price for a unit currently for sale was $339,000 
  • In our post for July / August the median price for a unit currently for sale was $324,450 

The median price in this and our last posts was based on a 1 bedroom 1 bathroom unit.

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 $462
Low $278
Avg $330
Med $300


What we can see from this report is the spread of prices from $278.00 – $462.00 with the median at $300.00 per square foot.

In our last post the median list price to square foot price was $310.00

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 $309,900 $293
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 $309,900with a list price to square foot price of $293.00
  • A 2 Bedroom 2 Bathroom 1620 square foot unit for sale is $618,000with a list price to square foot price of $349.00
View from Fort Lauderdale condo just listed for sale in Ocean Riviera - Unit 504
View from a condo just listed for sale in Ocean Riviera – Unit 504

Ocean Riviera
New Condo Listings

There have been 3 new listings of condos for sale here in Ocean Riviera in the last 30 days.

Note in our last post for September / October there were no new listings.

Our market analysis report for these new listing is presented below.

Condo  Beds/Baths SF/FF List Price
Unit1410 2 / 2 1,575 $549,000
Unit 504 1 / 1 1,076 $329,000
Unit2008 1 / 1 1,076 $299,000
Median 1 / 1 1,076 $329,000

We can see from this report that:

  • Unit 1410 a 2 bedroom unit has been listed for sale for $549,000this 2 bedroom 2 bathroom 1575 square foot unit has a list price to square foot price of $349.00
  • Unit 504 a 1 bedroom unit has been listed for sale for $329,000this 1 bedroom 1 bathroom 1076 square foot unit has a list price to square foot price of $306.00
  • Unit 2008 also a 1 bedroom unit has been listed for sale for $299,000this 1 bedroom 1 bathroom 1076 square foot unit has a list price to square foot price of $278.00

 

Kevin Wirth Fort Lauderdale Realtor

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Kevin Wirth – Realtor
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View from a condo pending sale here in Ocean Riviera
View from a condo pending sale here 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 #1808 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 tastefully decorated and rarely available 1 Bedroom / 1.5 bathroom 18th floor unit. 

This condo is in one of the finest buildings on the Galt Ocean Mile and features an updated kitchen, new bathrooms and a washer dryer in unit.

This condo had 84 days on market.

View of a condo pending sale here in Ocean Riviera
View of a condo pending sale here in Ocean Riviera

Ocean Riviera
Sales Last 12 Months

There have been 5 sales of condos here in Ocean Riviera in the last 6 months – this is the same as per our last post!

The market analysis report for these sales is presented below.

$$  Beds/Baths SF/FF Sale Price
High 2/ 2 1,575 $300,000
Low 1 / 1 1,076 $240,000
Avg 1 / 1 1,180.6 $269,000
Med 1 / 1 1,076 $275,000

 

We can see from this report that the median sales price has been $275,000  – this being for a 1076 square foot 1 bedroom 1 bathroom unit – this is the same as in our last post!

In our earlier post for July / August the median sales price has been $300,000  – this being for a 1100 square foot 1 bedroom 1 bathroom unit.

Ocean Riviera
Median Sales Prices

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

Beds/Baths SF/FF Sale Price SP$/SqFt
1 / 1 1,076 $262,500 $244
2 / 2 1,575 $280,000 $178

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

  • A 1 Bedroom 1 Bathroom 1076 square foot unit sold has been $262,500with a list price to square foot price of $244.00
  • A 2 Bedroom 2 Bathroom 1575 square foot unit sold has been $280,000with a list price to square foot price of $178.00

Important to note is that of the 5 units sold over the last 6 months – 4 units have been 1 bedroom condo units and just 1 sale has been for a 2 bedroom condo 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 $273
Low $178
Avg $232
Med $232


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 $232.00 per square foot.

In our last post the median sales price to square foot price paid for a condo sold over the last 6 months was $256.00 per square foot.

Important to note is the highest price paid at $273.00

% 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$/LP$
Avg 92%
Med 93%


We can see from this report that BOTH the average and median sales price to list price for Fort Lauderdale condo here in The Riviera  has been 93% – down from 94% in our last post!

This means if the condo is listed for sale for $350,000 – then based on the median it would sell for $325,500!

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 50
Med 69


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 69 days – this is also the same as in our last 2 posts!

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.

Median sales price per square foot at $232.00 are well down from 2014 – when the median was $272.00

Here are the median sales prices to square foot prices for all of 2014.

 $$ SP$/SqFt
High $293
Low $221
Avg $262
Med $272

 

The lower square foot priceswe are seeing are in my mind a direct reflection of the condition of some the units and /or the location of units that have recently sold!

There have been some sales of condo units that needed a little more than just some TLC!

Condos in this complex are in my mind still undervalued – and I am sure we will see sales prices to square foot begin to reflect this!

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