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

Riviera Condos

Ocean Riviera
Galt Ocean Mile Condos
2020 Pricing Guide

Welcome to our September 2020 / October 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 – 1 of which is a new listing!

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!

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

  • Prices from $465,000 – $887,000

Median Sales Prices

  • Median Sales Price $319,000
    – 1 bedroom 1 bathroom unit
  • Sales Price to Square Foot Price $287.00
  • Median Sales to List Price 95%
  • 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 3 posts!

Read more from our last post for Riviera Galt Ocean Mile July 2020 / August 2020

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

BEDS / BATHS LA LP$
Min 2 / 2 1,575 $465,000
Max 3 / 2 2,000 $887,000
Avg 2 / 2 1,685 $638,160
Median 2 / 2 1,620 $559,900

We can see from the market report that the average price for a Riviera Galt Ocean Mile condo currently for sale is $638,160 – this being for a 2 bedroom 2 bathroom 1685 square foot unit with a list price to square foot price of $375.00

In our last post the the average price for a Riviera Galt Ocean Mile condo currently for sale was lower at $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

We can also see from this report that the median list price for a Riviera Galt Ocean Mile condo for sale is $559,900 – this being for a 2 bedroom 2 bathroom 1620 square foot unit with a list price to square foot price of $338.00

In our last post for July 2020 / August 2020 the median list price for a Riviera Galt Ocean Mile condo for sale was lower at $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

Currently we have 2 & 3bedroom units for sale here in Ocean Riviera – we look more at median list prices below.

View Galt Ocean Mile condominium 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
2 / 2 1,597 $529,900 $328.00
3 / 2 2,000 $887,000 $444.00

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

  • Currently there are no 1 Bedroom Ocean Riviera Galt Ocean Mile condos for sale – based on MLS records.  In our last post the median list price for 1 bedroom units for sale was $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
  • 2 Bedroom Ocean Riviera Galt Ocean Mile condos for sale is $529,900 – this being for a 2 Bedroom 2 Bathroom 1597 square foot unit with a list price to square foot price of $328.00.  In our last post the median list price for 2 Bedroom Ocean Riviera condos for sale was the same at $529,900 – this being for a slightly larger 2 Bedroom 2 Bathroom 1615 square foot unit with a list price to square foot price of $328.00
  • 3 Bedroom Ocean Riviera Galt Ocean Mile condos for sale is $887,000 – this being for a 3 Bedroom 2 Bathroom 2000 square foot unit with a list price to square foot price of $444.00In our last post there were no 3 bedroom units for sale – However in the last post when 3 Bedroom condos were for sale the median for 3 Bedroom Ocean Riviera condos for sale the median list price 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 1710
Galt Ocean Mile condo Ocean Riviera 3550 Galt Ocean Drive just listed for sale Unit 1710

Ocean Riviera
New Condo Listings

There has been just 1 new listing of a Ocean Riviera Galt Ocean Mile condo for sale in the last 30 days – this down from 2 new listings as in our last post – this being unit 1506 a 2 bedroom condo and unit 2003 a 1 bedroom condo.

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

BEDS / BATHS LA LP$
Unit 1710 2 / 2 1,575 $465,000

We can see from this report that Unit 1710 a 2 bedroom Riviera condo has just been listed for sale for $465,000this 2 bedroom 2 bathroom 1575 square foot unit has a list price to square foot price of $295.00

Unit 1710 is waiting for someone to add their designer finishes – so as to make this truly a one of kind home!

This Galt Ocean Mile condo for sale features: bamboo flooring throughout, a washer and dryer, large tandem garage parking (spaces 54 & 78) and private storage.


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 Unit 407
View Galt Ocean Mile condo Ocean Riviera 3550 Galt Ocean Drive Pending Sale Unit 407

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 is currently 1 unit pending sale here in Riviera – In our last post there was also 1 unit pending sale, this being unit 1810 a 2 bedroom 2 bathroom condo.

Our market analysis report for this unit pending sale is presented below:

BEDS / BATHS LA LP$
Unit 407 2 / 2 1,500 $399,000

We can see from this report that Unit 407 a 2 bedroom Riviera condo listed for sale for $399,000 is currently pending salethis 2 bedroom 2 bathroom 1500 square foot unit has a list price to square foot price of $266.00

Unit 407 is a spacious oceanfront condo!

This Galt Ocean Mile condo features: a new Air Conditioning unit that was installed in the condo within the past year and a washer and dryer.

View Galt Ocean Mile condo Ocean Riviera 3550 Galt Ocean Drive Fort Lauderdale recently sold Unit 2003
View Galt Ocean Mile condo Ocean Riviera 3550 Galt Ocean Drive recently sold Unit 2003

Ocean Riviera
Sales Last 6 Months

There have been 3 sales of Ocean Riviera Galt Ocean Mile condos in the last 6 months – This is up from 1 sale as in our last post for July 2020 / August 2020

The market analysis report for these sales is presented below:

BEDS / BATHS LA SP$
Min 1 / 1 970 $280,000
Max 2 / 2 1,575 $450,000
Avg 1 / 1 1,205 $349,667
Median 1 / 1 1,070 $319,000

We can see from this report that the average sales price for a condo sold here in Riviera over the last 6 months has been $349,667 – this being for a 1205 square foot 1 bedroom 1 bathroom unit.

We can also see from this report that the median sales price for a Riviera Galt Ocean Mile condo  over the last 6 months has been $319,000  – this being for a 1070 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
Min $286.00
Max $298.00
Avg $290.00
Median $287.00

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 6 months has been $287.00

We can also see that the highest square foot price paid has been $298.00

% 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 94%
Max 96%
Avg 95%
Median 95%

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 95%

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 $475,000!

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 6 months.

DOM
Min 34
Max 146
Avg 105
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 6 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.

Riviera Condo Sales
Last 6 Months – By Unit

Here is our market summary report showing the details for each of the sales here in Riviera Galt Ocean Mile over the last 6 months.

BEDS / BATHS LA SP$
Unit 1810 2 / 2 1,575 $450,000
Unit 2003 1 / 1 1,070 $319,000
Unit 1108 1 / 1 970 $280,000

We can see from this report that the highest price paid for a Riviera Galt Ocean Mile condo over the last 6 months was for Unit 1810 a 2 bedroom condothis 2 bedroom 2 bathroom 1575 square foot unit had a sales price to square foot price of $286.00

Unit 1810 sold for 96% of its list price and had 146 days on market or just under 5 months.

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!

Buyer and sales activity has been very slow given the Corona Virus.

Things are picking up however with 3 sales over the last 6 months and 1 unit now pending sale!

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.