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 May 2021 / June 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 7 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 $299,000 – $499,000

Median Sales Prices

  • Median Sales Price $460,000
    – 2 bedroom 2 bathroom unit
  • Sales Price to Square Foot Price $325.00
  • Median Sales to List Price 97%
  • Days on Market 23 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 – this is the same number of units for sale as in our last post for February 2021 / March 2021!

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

BEDS / BATHS LA LP$
Min 1 / 1 1,076 $299,000
Max 2 / 2 1,656 $499,000
Avg 2 / 2 1,366 $399,000
Median 1 / 1 1,366 $399,000

We can see from the market report that currently there is a 1 bedroom unit for sale for $299,000 and also a 2 bedroom unit for sale for $499,000.

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 Condos
Median List Prices

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

BEDS / BATHS LA LP$ LP$/SqFt
1 / 1 1,076 $299,000 $278.00
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 $299,000 – this being for a 1 Bedroom 1 Bathroom 1076 square foot unit with a list price to square foot price of $278.00 – In our last post the median list price for 1 bedroom units for sale was higher at $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
  • 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 the same at $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.
  • 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 is the same 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 condominium Ocean Riviera 3550 Galt Ocean Drive Fort Lauderdale
View Galt Ocean Mile condominium Ocean Riviera 3550 Galt Ocean Drive Fort Lauderdale

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 – this is the same as in our last post!

Ocean Riviera
Sales Last 6 Months

There have been 7 sales of Ocean Riviera Galt Ocean Mile condos in the last 6 months – This is down slightly from the 8 sales over the preceding 6 months as in our last post for Feb 2021 / March 2021

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

BEDS / BATHS LA SP$
Min 1 / 1 970 $329,000
Max 3 / 2 2,000 $860,000
Avg 2 / 2 1,456 $525,571
Median 2 / 2 1,575 $460,000

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 $525,571 – this being for a 1456 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 lower at $480,750 – this being for a 1480 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 $460,000  – 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 lower at $437,500  – this being for a 1575 square foot 2 bedroom 2 bathroom unit.

View 1 bedroom Galt Ocean Mile condo Ocean Riviera 3550 Galt Ocean Drive Fort Lauderdale recently sold
View 1 bedroom Galt Ocean Mile condo Ocean Riviera 3550 Galt Ocean Drive recently sold!

Ocean Riviera Condos
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 Galt Ocean Mile.

BEDS / BATHS LA SP$ SP$/SqFt
1 / 1 1,023 $332,000 $325.00
2 / 2 1,575 $542,500 $292.00
3 / 2 2,000 $860,000 $430.00

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

  • 1 Bedroom Ocean Riviera Galt Ocean Mile condos sold over the last 6 months is $332,000 – this being for a 1 Bedroom 1 Bathroom 1023 square foot unit with a sales price to square foot price of $325.00 
  • 2 Bedroom Ocean Riviera Galt Ocean Mile condos sold over the last 6 months is $542,500 – this being for a 2 Bedroom 2 Bathroom 1575 square foot unit with a sales price to square foot price of $292.00.
  • 3 Bedroom Ocean Riviera Galt Ocean Mile condos sold over the last 6 months is $860,000 – this being for a 3 Bedroom 2 Bathroom 2000 square foot unit with a list price to square foot price of $430.00.

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 6 months.

SP$/SqFt
Min $283.00
Max $430.00
Avg $342.00
Median $325.00

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 $325.00 – up from $292.00 as in our last post!

We can also see that the highest square foot price paid has been $430.00 – up from $324.00 as in our last post!

% 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 96%
Median 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% – well up from 94% 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 97% of its list price or $485,000!

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 6
Max 184
Avg 72
Median 23

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 23 days – this is down from 32 days 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 1105 2 / 2 1,420 $625,000
Unit 102 2 / 2 1,575 $460,000
Unit 702 2 / 2 1,575 $445,000
Unit 709 1 / 1 1,076 $335,000
Unit 1103 1 / 1 970 $329,000

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 just 2 condos for sale – both of which are Active Under Contract!

I am pleased to report that despite our low inventory of Riviera Galt Ocean Mile condos for sale – we have had 7 sales over the last 6 months!

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 © 2021 Realtors of the Palm Beaches and Greater Fort Lauderdale Multiple Listing Service Inc.