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

Riviera Condos

Ocean Riviera
Galt Ocean Mile Condos
2021 Pricing Guide

Welcome to our February 2021 / March 2021 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 just 2 condos currently for sale in this great direct oceanfront complex

There have been 8 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!

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

  • Prices from $345,500 – $499,000

Median Sales Prices

  • Median Sales Price $437,500
    – 2 bedroom 2 bathroom unit
  • Sales Price to Square Foot Price $292.00
  • Median Sales to List Price 94%
  • Days on Market 32 Days
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, FL

Ocean Riviera
Condos for Sale

The following market report is for the 2 x Riviera Galt Ocean Mile condos for sale Fort Lauderdale

It is important to note that the number of Riviera condos for sale is well down from 7 condos for sale as our last post!

Our market analysis report for these 2 units is presented below:

BEDS / BATHS LA LP$
Min 1 / 1 1,076 $345,500
Max 2 / 2 1,656 $499,000
Avg 2 / 2 1,366 $422,250
Median 1 / 1 1,366 $422,250

We can see from the market report that BOTH the average and median price for Riviera Galt Ocean Mile condos currently for sale is $422,250.

In our last post the median list price for a Riviera Galt Ocean Mile condo for sale was $475,000 – this being for a 2 bedroom 2 bathroom 1575 square foot unit with a list price to square foot price of $321.00

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
1 / 1 1,076 $345,500 $321.00
2 / 2 1,656 $499,000 $301.00

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

  • 1 Bedroom Ocean Riviera Galt Ocean Mile condos for sale is $345,500 – this being for a 1 Bedroom 1 Bathroom 1076 square foot unit with a list price to square foot price of $321.00 – In our last post the median list price for 1 bedroom units for sale was the same at $345,500 – this being for a 1 Bedroom 1 Bathroom 1076 square foot unit with a list price to square foot price of $339.00
  • 2 Bedroom Ocean Riviera Galt Ocean Mile condos for sale is $499,000 – this being for a 2 Bedroom 2 Bathroom 1656 square foot unit with a list price to square foot price of $301.00.  In our last post the median list price for 2 Bedroom Ocean Riviera condos for sale was slightly higher at $499,450 – this being for a 2 Bedroom 2 Bathroom 1597 square foot unit with a list price to square foot price of $309.00.
  • There are currently no 3 Bedroom Ocean Riviera Galt Ocean Mile condos for sale (based on MLS records) In the last post when 3 bedroom units were for sale the median for 3 Bedroom Ocean Riviera condos for sale was $887,000 – this being for a 3 Bedroom 2 Bathroom 2000 square foot unit with a list price to square foot price of $444.00

Ocean Riviera
New Condo Listings

There has been no new listings of Ocean Riviera Galt Ocean Mile condos for sale in the last 30 days – this well down from 5 new listings as in our last post!


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

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 no units pending sale here in Riviera – In our last post there was 1 unit pending sale, this being unit 911 a 3 bedroom 2 bathroom condo.

Ocean Riviera
Sales Last 6 Months

There have been 8 sales of Ocean Riviera Galt Ocean Mile condos in the last 6 months – This is up from 5 sales as in our last post for November 2020 / December 2020

The market analysis report for these 8 sales is presented below:

BEDS / BATHS LA SP$
Min 1 / 1 970 $319,000
Max 3 / 2 2,000 $860,000
Avg 2 / 2 1,480 $480,750
Median 2 / 2 1,575 $437,500

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 $480,750 – this being for a 1480 square foot 2 bedroom 2 bathroom unit

In our last post the average sales price for a condo sold here in Riviera over the preceding 6 months was much lower at $371,400 – this being for a 1338 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 6 months has been $437,500  – this being for a 1575 square foot 2 bedroom 2 bathroom unit.

In our last post the median sales price for a condo sold here in Riviera over the preceding 6 months was also much lower at $378,000  – this being for a 1500 square foot 2 bedroom 2 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 $252.00
Max $430.00
Avg $324.00
Median $292.00

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 $292.00 – up from $279.00 as in our last post!

We can also see that the highest square foot price paid has been $324.00

% 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 92%
Max 100%
Avg 95%
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 $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 6 months.

DOM
Min 10
Max 184
Avg 70
Median 32

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 just 32 days or just over 1 month – this is well down from 81 days or just under 3 months as in our last post!

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 911 3 / 2 2,000 $860,000
Unit 1702 2 / 2 1,575 $625,000
Unit 102 2 / 2 1,575 $460,000
Unit 702 2 / 2 1,575 $445,000
Unit 1710 2 / 2 1,575 $430,000
Unit 407 2 / 2 1,500 $378,000
Unit 1103 1 / 1 970 $329,000
Unit 2003 1 / 1 1,070 $319,000

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 911 a 2 bedroom condo which sold for $860,000 – this 2 bedroom 2 bathroom 2000 square foot unit had a sales price to square foot price of $430.00

Unit 911 sold for 97% of its list price and had 186 days on market or just over 6 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 limited range of units for sale with 2 condos for sale!

I am pleased to report that we have had 8 sales over the last 6 months!

Buyer and sales activity had been very slow for much of 2020 given the Corona Virus.

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.