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Ocean Summit Condos

Ocean Summit
Galt Ocean Mile Condos

Welcome to my October 2018 / November 2018 post on Ocean Summit Galt Ocean Mile condos for sale Fort Lauderdale.

Fort Lauderdale condos for sale here in Ocean Summit offer direct oceanfront units set right on the Galt Ocean Mile Beachfront.

 

Search Ocean Summit Condos for Sale

 

Currently there are 3 condos for sale here in Ocean Summit.

There have been 8 sales over 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 both 1, 2 and 3 bedrooms units over the last 6 months!

We also compare recent sales trends in Ocean Summit – Important information for both buyers and sellers!

Ocean Summit
Galt Ocean Mile – Key Statistics
Ocean Summit Condominium Apartments, Condominium complex in Fort Lauderdale, Florida
Address: 4010 Galt Ocean Dr, Fort Lauderdale, FL 33308

Condos for Sale

  • Prices from $337,000 – $423,900

Median Prices

  • Median List Price $350,000
     – 1 Bedroom 1 Bathroom Unit 
  • 8 Sales Last 6 Months
  • Median Sales Price $369,000
    – 2 Bedroom 2 Bathroom Unit
  • Sales Price to Sq Ft Price $309.00
  • Sales to List Price 94%
  • Days on Market 85 Days
View Ocean Summit condominium 4010 Galt Ocean Drive Fort Lauderdale
View of Ocean Summit condominium 4010 Galt Ocean Drive Fort Lauderdale, Florida

Ocean Summit
Condos for Sale

There are just 3 x Ocean Summit Galt Ocean Mile condos for sale here in Fort Lauderdale Florida.

The number of Ocean Summit condos for sale this month is down from the 4 x condo units for sale as in our last post on Ocean Summit for August 2018 / September 2018!

Our market analysis report for these 3 units is presented below.

BEDS / BATHS LA LP$
Min 1 / 1 850 $337,000
Max 2 / 2 1300 $423,900
Avg 2 / 2 1083 $370,300
Median 2 / 2 1100 $350,000

We can see from this report that the average price for Fort Lauderdale condo for sale in Ocean Summit is $370,300 – this being for a 2 bedroom 2 bathroom unit!

We can also see that the median price for Fort Lauderdale condo for sale in Ocean Summit is $350,000 – this being for a 2 bedroom 2 bathroom unit!

Given the low level of inventory – a useful gauge of pricing for Ocean Summit condos for sale is to review median list prices by bedroom – which we do below.

View 2 bedroom Ocean Summit Galt Ocean Drive Fort Lauderdale condo for sale
Great views from this 2 bedroom Ocean Summit Galt Ocean Drive Fort Lauderdale condo

Median List Prices
By Bedroom

Here is our market summary report for median list prices by bedroom for Ocean Summit Galt Ocean Mile condos for sale.

BEDS / BATHS LA LP$ LP$/SqFt
1 / 1 850 $337,000 $396.00
2 / 2 1200 $386,950 $322.00

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

  • 1 Bedroom Ocean Summit condos for sale  is $337,000 – this being for a 1 bedroom 1 bathroom unit of 850 square feet with a list price to square foot price of $396.00 – In our last post the median price was lower at $317,250 – this being for a 1 bedroom 1 bathroom unit of 940 square feet with a list price to square foot price of $338.00
  • 2 Bedroom Ocean Summit condos for sale is $386,950 – this being for a 2 bedroom 2 bathroom unit of 1200 square feet with a list price to square foot price of $322.00 – In our last post the median price was much higher at $439,000 – this being for a 2 bedroom 2 bathroom unit of 1145 square feet with a list price to square foot price of $384.00
  • Currently there are no 3 Bedroom Ocean Summit condos for sale is  – However in our last post when 3 bedroom units were offered for sale the median price for 3 Bedroom units was $529,500 – this being for a 3 bedroom 2 bathroom unit of 1520 square feet with a list price to square foot price of $348.00

Kevin Wirth Fort Lauderdale Realtor

Buying / Selling?
Call Me Today!

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

Email: kevinsellsmore @gmail.com

Click here to email me now

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View Galt Ocean Mile New Listings

Ocean Summit
New Listings

There has been no new listings of Ocean Summit Galt Ocean Mile condos for sale over the last 30 days.

In our last post there was 1 new listing that Unit 1102 a 2 bedroom Ocean Summit condo.

Ocean Summit
Pending & Recent Sales

Here are the reports for pending sales and sales of condo over the last 6 months.

Ocean Summit
Pending Sales

There is currently just 1 condo pending sale here in Ocean Summit Galt Ocean Mile – a 1 bedroom unit!

This is down from the 2 x 2 bedroom units pending sale as in our last post for August 2018 / September 2018!

Our market analysis report for this 1 unit is presented below:

CONDO BEDS / BATHS LA LP$
Unit 1416 1 / 1 940 $259,000

We can see from this report that Unit 1416 a 1 bedroom Ocean Summit condo listed for sale for $259,000 is now pending salethis 1 bedroom 1 bathroom 940 square foot unit has a list price to square foot price of $276.00

This Galt Ocean Mile condo has impact windows & doors throughout.

This unit has updated kitchen & baths and is offered for sale fully furnished – turnkey!

The condo has a washer/dryer in the unit and has both ocean and Intracoastal views.

View Ocean Summit 4010 Galt Ocean Mile condo recently sold - Unit 1104
View from the most expensive Ocean Summit Galt Ocean Mile condo recently sold – Unit 1104

Ocean Summit
Sales Last 6 Months

There have been 8 x Fort Lauderdale oceanfront condo sold in Ocean Summit over the last 6 months

This is well up from the 5 x Ocean Summit condos sold over the preceding 6 months as in our last post for August / September 2018!

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

BEDS / BATHS LA SP$
Min 1 / 1 940 $250,000
Max 2 / 2 1290 $515,000
Avg 2 / 2 1151 $368,500
Median 2 / 2 1190 $369,000

We can see from this report that the average sales price for a condo sold in Ocean Summit over the last 6 months has been $368,500 – this being for a 2 bedroom 2 bathroom unit of 1151 square feet.

We can also see that that median price for a condo sold in Ocean Summit over the last 6 months has been $369,000 – this being for a 2 bedroom 2 bathroom unit of 1190 square feet

In our last post the median price for a condo sold in Ocean Summit over the preceding 6 months was higher at $382,000 – this being for a 2 bedroom 2 bathroom unit of 1190 square feet

Note:  the highest price paid for a unit sold at $515,000 – this being for a direct oceanfront facing – front corner 2 bedroom unit!

Median Sales Prices
By Bedroom

Here is our market summary report showing median sales prices by bedroom for Ocean Summit Galt Ocean Mile condos sold over the last 6 months!

BEDS / BATHS LA SP$ SP$/SqFt
1 / 1 940 $250,000 $266.00
2 / 2 1190 $382,000 $321.00

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

  • 1 Bedroom Ocean Summit condos sold over the last 6 months has been $250,000 – this being for a 1 bedroom 1 bathroom unit of 940 square feet with a sales price to square foot price of $266.00
  • 2 Bedroom Ocean Summit condos sold over the last 6 months has been $382,000 – this being for a 2 bedroom 2 bathroom unit of 1190 square feet with a sales price to square foot price of $322.00

Square Foot Prices
Condos Sold

Here is our market summary report showing square foot prices paid for Ocean Summit condos sold over the last 6 months.

SP$/SqFt
Min $213.00
Max $433.00
Avg $321.00
Median $309.00

We can see from this report that the median price paid per square foot for a condo sold in this complex over the last 6 months has been $309.00 per square foot – down from $321.00 in our last post!

Also important to note is the highest square foot price paid at $433.00!

% Sales to List Price

An important real estate indicator is how much are buyers are paying for Ocean Summit 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 84%
Max 100%
Avg 94%
Median 94%

We can see from this report that the median sales price to list price for condos sold here in Ocean Summit  has been 94% down from 96% in our last post!

This means if a Fort Lauderdale Condo for sale here in Ocean Summit is listed at $350,000 – then based on MLS median sales data the condo could be expected to sell for 94% of that amount or $329,000.

Days on Market

Days on market for Ocean Summit Galt Ocean Mile condos for sale is an important indicator on how the strong demand is for condos for sale in this Galt Ocean Mile condominium.

Here is the market analysis report for Days on Market based on Condo sales over the last 6 months.

DOM
Min 1
Max 456
Avg 130
Median 85

We can see from this report that the median days on market for Fort Lauderdale condos for sale here in Ocean Summit has been 85 days or just under 3 months.

It is important to note in our last post the median days on market was just 33 days or just over 1 month!

Days on market is the time from when the Condo was listed for sale till the Condo sold AND closed

Ocean Summit Club
Condo Sales Itemized

Here is the data for each of the condos sold over the last 6 months here in Ocean Summit!

CONDO BEDS / BATHS LA SP$
Unit 1104 2 / 2 1190 $515,000
Unit 810 2 / 2 1100 $420,000
Unit 105 2 / 2 1100 $420,000
Unit 1611 2 / 2 1190 $382,000
Unit 812 2 / 2 1200 $356,000
Unit 612 2 / 2 1200 $330,000
Unit 514 2 / 2 1290 $275,000
Unit 1616 1 / 1 940 $250,000

We can see from this report the details for both the condos sold – including the most expensive sale over the last 6 months, which was for Unit 1104 a 2 bedroom unit which sold for $515,000.

Unit 1104 is a 2 bedroom 2 bathroom 1190 square foot direct oceanfront condo and sold with a sales price to square foot price of $433.00

Unit 1104 sold for 100% of its list price and had just 5 days on market!

Kevin Wirth Realtor outside Galt Ocean Mile condominiums

My Thoughts / Summary

Ocean Summit Galt Ocean Mile condos for sale are units set in a great complex set right on the beach here on Galt Mile in Fort Lauderdale.

I am very pleased to report that sales activity has continued to be strong over the last 6 months – with 8 units sold and 1 unit now pending sale.

This is very encouraging especially given the low level of Ocean Summit condos currently for sale!

I hope you have enjoyed my post on Fort Lauderdale Condos for Sale here in Ocean Summit

Kevin Wirth Realtor


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