Pool views from Fort Lauderdale condo here in Ocean Summit

Ocean Summit Condos

Ocean Summit Condos
Fort Lauderdale

Search Ocean Summit Condos for Sale

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

Currently there are 5 condos for sale – one of which is a new listing.

1 units is currently under contract and 1 unit is pending sale. There have been 5 sales over 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 both 1 and 2 bedrooms units over the last 6 months!

We also compare recent sales trends in Ocean Summit to 2014 sales. Important information for both buyers and sellers!

Key Statistics for Buyers / Sellers

  • Condos for Sale
    Prices from $275,000 – $425,000

Median Prices

  • Median List Price $369,000
     – 1 Bedroom 1 Bathroom Unit 
  • 5 Sales Last 6 Months 
  • Median Sales Price $329,000
    – 2 Bedroom 2 Bathroom Unit
  • Sales to List Price 92%
  • Days on Market 141 Days
Ocean views from condo for sale here in Ocean Summit
Ocean views from condo for sale here in Ocean Summit

Ocean Summit
Condos for Sale

The market analysis report for the 7 x Ocean Summit condos for sale is presented below – which is up slightly from the 6 units as per our last post on Ocean Summit condos for sale for July / August

 $$ Beds/Baths SF/FF List Price
High 2 / 2 1,190 $425,000
Low 1 / 1 850 $275,000
Avg 1 / 1 1,008 $338,971
Med 1 / 1 940 $369,000

 

We can see from this report that the median price for Fort Lauderdale condo for sale in Ocean Summit  $369,000

Important to note are the increases in median prices over the last few months – median prices are up nearly $70,000 or 23% from earlier this year!

  • In our last post for June / July the median price for a condo for sale was $334,450
  • In our earlier post for May / June the median price for a condo for sale was $299,900

We can also see that the lowest price unit is offered for sale for $275,000 and the most expensive unit is offered for sale here $425,000.

Median Prices
By Bedroom

Here is our market summary report for median prices by bedroom for condos currently for sale here in Ocean Summit.

Beds/Baths SF/FF List Price LP$/SqFt
1 / 1 870 $279,900 $329
2 / 2 1,190 $375,000 $334

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

  • 1 Bedroom units is $279,900 – this being for a 1 bedroom 1 bathroom unit of 870 square feet with a list price to square foot price of $329.00
  • 2 Bedroom units is $375,000 this being for a 2 bedroom 2 bathroom unit of 1190 square feet with a list price to square foot price of $334.00

 

Kevin Wirth Fort Lauderdale Realtor

Buying / Selling?
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Kevin Wirth – Realtor
954-459-0337

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View Galt Ocean Mile New Listings

Ocean Summit
New Listings

There has been 1 new listing here in Ocean Summit Fort Lauderdale in the last 30 days.

The market analysis report for this unit is presented below

Beds/Baths SF/FF List Price LP$/SqFt
2 / 2 1,190 $369,000 $310


We can see from this report that a 2 bedroom 2 bathroom unit has just been listed for sale – this condo, unit 210 is offered for sale for $369,000.

This oceanfront condo is a tastefully remodeled unit here in the Ocean Summit which sites directly on the sand.

The condo features: central AC, tile floors, ceiling fans and an in unit washer and dryer.  There are hurricane impact windows and doors.

The unit has two fully remodeled bathrooms.

Views from a condo pending sale here in Ocean Summit
Views from a condo pending sale here in Ocean Summit

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 1 condo that is under constract and is pending sale here on Ocean Summit.

The market analysis report for this unit is presented below

Beds/Baths SF/FF List Price LP$/SqFt
1 / 1 850 $234,826 $276


We can see from this report that a
 1 bedroom 1 bathroom condo is pending sale – this 850 square foot condo unit 215 was offered for sale for $234,826

This condo is a “turnkey apartment”

The unit is upgraded with open concept living and beautiful tile throughout. You will love the gorgeous floor and crown moldings.

Important to note is that this unit had just 66 days on market – this is the time from when the unit was listed for sale till it went pending sale!

Views Fort Lauderdale condo recently sold in Ocean Summit
Views Fort Lauderdale condo recently sold in Ocean Summit

Ocean Summit
Sales Last 6 Months

There have been 5 x Fort Lauderdale condos sold in Ocean Summit over the last 6 months – this is up from 3 units as per our last post!

The market analysis report for these sales is presented below.

 $$ Beds/Baths SF/FF Sale Price
High 2 / 2 1,190 $400,000
Low 1 / 1 850 $216,000
Avg 2 / 2 1,082 $311,400
Med 2 / 2 1,145 $329,000


We can see from this report that the median price for a condo sold in Ocean Summit has been 
$329,000 – the same as in our last post.

While the median sales price is the same as our last report for July / August  it is important to note the median price is down from our 2 earlier posts / reports!

Both the average and median prices in this and our last reports are based on 2 bedroom 2 bathroom condos 

Square Foot Prices
Condos Sold

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

 $$ SP$/SqFt
High $364
Low $276
Avg $311
Med $301


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 $301.00.

Again it is important to note that this is well down from our last 3 reports:

  • In our July / August report the median was $320.00
  • In our May / June report the median was $357.00
  • In our March / April report the median was $362.00

% Sales to List Price

An important real estate indicator is how much are buyers are paying for Fort Lauderdale Condos for sale here in Ocean Summit – 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$/LP$
Avg 90%
Med 92%


We can see from this report that the median sales price to list price for condos sold here in Ocean Summit  has been 92%

This means if a Fort Lauderdale Condo for sale here in Ocean Summit is listed at $400,000 – then based on median sales data the Condo would sell for 92% of that amount or $368,000.

Days on Market

Days on market for Condos for Sale in Ocean Summit 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.

 $$ Days on Market
Avg 111
Med 141


We can see from this report that the median days on market for Fort Lauderdale condos for sale here in Ocean Summit has been 141 days – or just 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

Median sales prices over the last 6 months for condos here in Ocean Summit have been on the rise 

The median sales price summary report for all sales in 2014 presented below shows us that the median sales price to square foot price for all sales in 2014 was $261.00 

Beds/Baths SP$/SqFt
2 / 2 $261

 

Despite the declines from $362.00 to $357.00 to $320.00 and now to $301.00 – I am confident that median prices will soon start to rise.

We have been seeing sales of units is less desirable stacks and also of units in need of updating – this has really impacted on median prices for units here in Ocean Summit over the last 6 months!

Kevin Wirth Realtor

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

Kevin Wirth Realtor


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