View Galt Ocean Mile condo Riviera 3550 Galt Ocean Drive Fort Lauderdale for sale

Riviera Condos

Ocean Riviera
Galt Ocean Mile Condos
2020 Pricing Guide

Welcome to our July 2020 / August 2020 pricing guide for Ocean Riviera Galt Ocean Mile condos for sale 3550 Galt Ocean Drive Fort Lauderdale Florida – this complex is commonly referred to as the Riviera Galt Ocean Mile.

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 5 condos currently for sale in this great direct oceanfront complex – 2 of which are new listings!

There have been 7 sales in the last 12 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!

Riviera Galt Ocean Mile
Key Statistics
Riviera Condominium complex in Fort Lauderdale, Florida
Address: 3550 Galt Ocean Dr, Fort Lauderdale, FL 33308

  • Prices from $340,000 – $889,000

Median Sales Prices

  • Median Sales Price $465,000
    – 2 bedroom 2 bathroom unit
  • Sales Price to Square Foot Price $289.00
  • Median Sales to List Price 94%
  • Days on Market 136 Days
View Galt Ocean Mile condominium Riviera 3550 Galt Ocean Drive Fort Lauderdale
View Galt Ocean Mile condominium Riviera 3550 Galt Ocean Drive Fort Lauderdale

Ocean Riviera
Condos for Sale

The following market report is for the 5 x Riviera Galt Ocean Mile condos for sale Fort Lauderdale – this is the same number of condos for sale as our last 2 posts – our post for May 2020 / June 2020 and our post for March 2020 / April 2020!

Our market analysis report for these 5 units is presented below:

BEDS / BATHS LA LP$
Min 1 / 1 1,070 $340,000
Max 2 / 2 2,000 $889,000
Avg 2 / 2 1,560 $537,560
Median 2 / 2 1,575 $499,900

We can see from the market report that the average price for a Riviera Galt Ocean Mile condo currently for sale is $537,560 – this being for a 2 bedroom 2 bathroom 1560 square foot unit with a list price to square foot price of $342.00

In our last post the the average price for a Riviera Galt Ocean Mile condo currently for sale was higher at $575,180 – this being for a 2 bedroom 2 bathroom 1533 square foot unit with a list price to square foot price of $364.00

We can also see from this report that the median list price for a Riviera Galt Ocean Mile condo for sale is $499,900 – this being for a 2 bedroom 2 bathroom 1575 square foot unit with a list price to square foot price of $328.00

In our last post for May 2020 / June 2020 the median list price for a Riviera Galt Ocean Mile condo for sale was lower at $478,000 – this being for a 2 bedroom 2 bathroom 1575 square foot unit with a list price to square foot price of $304.00

Currently we have 1 and 2 bedroom units for sale here in Ocean Riviera – we look at median prices for these 1 and 2 bedroom units for sale below.

View Galt Ocean Mile condo Ocean Riviera 3550 Galt Ocean Drive Fort Lauderdale
View Galt Ocean Mile condominium Ocean Riviera 3550 Galt Ocean Drive Fort Lauderdale

Ocean Riviera
Condo Median Prices

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

BEDS / BATHS LA LP$ LP$/SqFt
1 / 1 1,070 $340,000 $318.00
2 / 2 1,615 $529,900 $328.00

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

  • 1 Bedroom Ocean Riviera Galt Ocean Mile condos for sale is $340,000 – this being for a 1 Bedroom 1 Bathroom 1070 square foot unit with a list price to square foot price of $318.00.  In our last post the median for 1 bedroom units for sale was lower at $295,000 – this being for a 1 Bedroom 1 Bathroom 970 square foot unit with a list price to square foot price of $304.00.
  • 2 Bedroom Ocean Riviera Galt Ocean Mile condos for sale is $529,900 – this being for a 2 Bedroom 2 Bathroom 1615 square foot unit with a list price to square foot price of $328.00.  In our last post the median for 2 Bedroom Ocean Riviera condos for sale was much higher at $638,500 – this being for a 2 Bedroom 2 Bathroom 1597 square foot unit with a list price to square foot price of $374.00
  • Currently there are no 3 Bedroom Ocean Riviera Galt Ocean Mile condos for sale – In the last post when 3 Bedroom condos were for sale the median for 3 Bedroom Ocean Riviera condos for sale was $870,000 – this being for a 3 Bedroom 2 Bathroom 2000 square foot unit with a list price to square foot price of $435.00.
View Galt Ocean Mile condo Ocean Riviera 3550 Galt Ocean Drive Fort Lauderdale just listed for sale Unit 2003
View Galt Ocean Mile condo Ocean Riviera 3550 Galt Ocean Drive just listed for sale # 2003

Ocean Riviera
New Condo Listings

There has been 2 new listings of Ocean Riviera Galt Ocean Mile condos for sale in the last 30 days – this up from 1 new listings as in our last post – this being unit 911 a 2 bedroom condo!

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

BEDS / BATHS LA LP$
Unit 1506 2 / 2 1,656 $559,900
Unit 2003 1 / 1 1,070 $340,000

We can see from this report that:

Unit 1506 a 2 bedroom Riviera condo has just been listed for sale for $559,900this 2 bedroom 2 bathroom 1656 square foot unit has a list price to square foot price of $338.00

Unit 1506 offers a South view of the ocean and city.

This Galt Ocean Mile condo for sale was completely re-done.   The unit features: a foyer entrance with recessed ceiling, Ceramic tile floor, a kitchen that has been totally redone with Granite counter-tops, Stainless Steel appliances and recessed ceiling and lighting. There is a separate formal dining room next to the kitchen, new bathrooms and a huge master bedroom with lots of closet space!

Unit 2003 a 1 bedroom Riviera condo has just been listed for sale for $340,000this 1 bedroom 1 bathroom 1070 square foot unit has a list price to square foot price of $318.00

Unit 1506 is all about top-floor living.

This Galt Ocean Mile condo for sale is “move-in ready” and features tasteful and recent updates and outstanding South-East views of the ocean.   The condo has impact windows and there is a washer/dryer in the unit too!


Kevin Wirth Fort Lauderdale Realtor

Buying / Selling?
Call Me Today!

Kevin Wirth P.A.  – Realtor
Galt Ocean Mile Specialist
954-459-0337

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View Galt Ocean Mile New Listings

View Galt Ocean Mile condo Ocean Riviera 3550 Galt Ocean Drive Fort Lauderdale pending sale - taken prior to renovations
View Galt Ocean Mile condo Ocean Riviera 3550 Galt Ocean Drive pending sale # 1810 – photo taken prior to balcony renovations

Ocean Riviera
Pending & Recent Sales

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

Ocean Riviera Condos
Pending Sales

There are currently 1 unit pending sale here in Riviera – this is up from no units pending sale as in our last 3 posts!

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

BEDS / BATHS LA LP$
Unit 1810 2 / 2 1,575 $468,900

We can see from this report that Unit 1810 a 2 bedroom Riviera condo is currently pending salethis 2 bedroom 2 bathroom 1575 square foot unit has a list price to square foot price of $298.00

Unit 1810 is one stack from the North East corner.

This Galt Ocean Mile condo is a specious unit and features impact windows and door. This unit needs your personal touch and décor!

The unit has 2 covered tandem parking spaces (106/128) worth around $40,000.

View Galt Ocean Mile condo Ocean Riviera 3550 Galt Ocean Drive Fort Lauderdale recently sold Unit 1108
View Galt Ocean Mile condo Ocean Riviera 3550 Galt Ocean Drive recently sold # 1108

Ocean Riviera
Sales Last 6 Months

There have been just 1 sale of Ocean Riviera Galt Ocean Mile condos in the last 6 months

This is down from 3 sales in our last post for May 2020 / June 2020 and 4 sales as per our last post for March 2020 / April 2020

The market analysis report for this sale is presented below.

BEDS / BATHS LA SP$
Unit 1108 1 / 1 970 $280,000

We can see from this report that Unit 1108 a 1 Bedroom Riviera condo sold for $280,000this 1 bedroom 1 bathroom 970 square foot unit has a sales price to square foot price of $289.00

Unit 1108 is a large condo with “Gorgeous” North-East ocean views!

This Galt Ocean Mile condo features: new Impact windows and a new glass balcony!   This condo is a very clean original unit waiting for your decorator touches!  There is a washer/dryer in unit too!

It is also useful to look at median sales prices over the last 12 months which we do below.

Ocean Riviera
Sales Last 12 Months

There have been 7 sales of Ocean Riviera Galt Ocean Mile condos in the last 12 months

The market analysis report for these 7 sales is presented below.

BEDS / BATHS LA SP$
Min 1 / 1 970 $280,000
Max 3 / 2 2,117 $635,000
Avg 2 / 2 1,614 $480,700
Median 2 / 2 1,656 $465,000

We can see from this report that the average sales price for a condo sold here in Riviera over the last 12 months has been $480,700 – this being for a 1614 square foot 2 bedroom 2 bathroom unit.

We can also see from this report that the median sales price for a Riviera Galt Ocean Mile condo  over the last 12 months has been $465,000  – this being for a 1656 square foot 2 bedroom 2 bathroom unit.

It is also useful to look at median sales prices by bedroom over the last 12 months which we do below.

Ocean Riviera Condos
Median Sales Prices

Here is the market summary report showing median sales prices by bedroom for Riviera Galt Ocean Mile condos sold over the last 12 months!

BEDS / BATHS LA SP$ SP$/SqFt
1 / 1 970 $280,000 $289.00
2 / 2 1,656 $465,000 $281.00
3 / 2 2,117 $635,000 $300.00

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

  • 1 Bedroom Riviera  Galt Ocean Mile condos sold over the last 12 months has been $280,000 – this being for a 1 Bedroom 1 Bathroom 970 square foot unit with a list price to square foot price of $289.00
  • 2 Bedroom Riviera  Galt Ocean Mile condos sold over the last 12 months has been $465,000 – this being for a 2 Bedroom 2 Bathroom 1656 square foot unit with a list price to square foot price of $281.00
  • 3 Bedroom Riviera  Galt Ocean Mile condos sold over the last 12 months has been $635,000 – this being for a 3 Bedroom 2 Bathroom 2117 square foot unit with a list price to square foot price of $300.00.

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 12 months.

SP$/SqFt
Min $214.00
Max $383.00
Avg $298.00
Median $289.00

We can see from this report that the median sales price to square foot price paid for a Riviera Galt Ocean Mile condo sold over the last 12 months has been $289.00

We can also see that the highest square foot price paid has been $383.00

% Sales to List Price

An important real estate indicator is how much  buyers are paying for Riviera Galt Ocean Mile condos for sale – 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 96%
Avg 94%
Median 94%

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 94%

This means if the condo is listed for sale for $500,000 – then based on the median MLS prices it could be expected to sell for 94% of its list price or $470,000!

Days on Market

Days on market for Riviera Galt Ocean Mile condos for sale 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 12 months.

DOM
Min 44
Max 462
Avg 158
Median 136

We can see from this report that the median days on market Fort Lauderdale condo for sale in The Riviera over the last 12 months has been 136 days or under 5 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 Galt Ocean Mile condos are units in a great mid century oceanfront complex set right on the beach here on Galt Mile Fort Lauderdale.

Currently we have a nice range of units for sale with 5 condos for sale – a mix of 1 & 2 Bedroom Units! 

Buyer and sales activity has been very slow over the last few months given the Corona Virus – this in my mind is why we have had only 1 sale and 1 unit go under contract!

I hope you have enjoyed my post on Ocean Riviera
By Kevin Wirth Realtor

This statistical report on comparable Ocean Riviera properties 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 © 2020 Realtors of the Palm Beaches and Greater Fort Lauderdale Multiple Listing Service Inc.