View Fort Lauderdale oceanfront condo for sale 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 11 condos for sale – 3 of which are new listings (2 of these new listings are direct oceanfront 3 bedroom units).

1 units is currently under contract and 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 – $649,000

Median Prices

  • Median List Price $341,950
     – 1 Bedroom 1 Bathroom Unit 
  • 5 Sales Last 6 Months 
  • Median Sales Price $265,000
    – 1 Bedroom 1 Bathroom Unit
  • Sales to List Price 94%
  • Days on Market 66 Days
View from 3 bedroom condo for sale in Ocean Summit
View from 3 bedroom condo for sale in Ocean Summit

Ocean Summit
Condos for Sale

The market analysis report for the 11 x Ocean Summit condos for sale is presented below – which is well up from the 8 units as per our last post on Ocean Summit condos for sale October / November 2015!

Note this is one of the highest inventory levels for condos for sale here at Ocean Summit so fat this year!

Our market analysis report is presented below.

 $$ Beds/Baths SF/FF List Price
High 3 / 2 1,520 $649,000
Low 1 / 1 850 $275,000
Avg 2 / 2 1,162 $392,700
Med 2 / 2 1,190 $369,000


We can see from this report that the median price for Fort Lauderdale condo for sale in Ocean Summit  $369,000
this being for a 2 bedroom 2 bathroom unit.

Important to note are the increases in median prices over the last few months – even with a drop in Oct / Nov.

At $369,000 median prices are up over $69,000 or 23% from earlier this year!

  • In our post for October / November the median price for a condo for sale was $341,950
  • In our post for August / September the median price for a condo for sale was $369,000
  • In our post for June / July the median price for a condo for sale was $334,450
  • In our 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 $649,000.

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 $279,950 $326
2 / 2 1,190 $369,000 $323
3 / 2 1,520 $624,000 $411

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

  • 1 Bedroom units is $279,950 – this being for a 1 bedroom 1 bathroom unit of 870 square feet with a list price to square foot price of $326.00 – Note in our last post the median price for 1 Bedroom units was $277,450 – this being for a 1 bedroom 1 bathroom unit of 860 square feet with a list price to square foot price of $311.00
  • 2 Bedroom units is $369,000 this being for a 2 bedroom 2 bathroom unit of 1190 square feet with a list price to square foot price of $310.00 – Note in our last post the median price for 2 Bedroom units was $372,000 – this being for a 2 bedroom 2 bathroom unit of 1190 square feet with a list price to square foot price of $323.00
  • One of the 2 x 3 Bedroom units is $369,000 this being for a 2 bedroom 2 bathroom unit of 1190 square feet with a list price to square foot price of $310.00 – Note in our last post there were no 3 bedroom units for sale

Kevin Wirth Fort Lauderdale Realtor

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

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Search Galt Ocean Mile Condos 
View Galt Ocean Mile New Listings

 

View of the pool and sundeck here at Ocean Summit on Galt Ocean Mile
View of the pool and sundeck here at Ocean Summit on Galt Ocean Mile

Ocean Summit
New Listings

There has been 3 new listings here in Ocean Summit Fort Lauderdale in the last 30 days – this is the same number of new listing as per our last post!

The market analysis report for these units is presented below

 Condo Beds/Baths SF/FF List Price
Unit803 3 / 2 1,520 $649,000
Unit203 3 / 2 1,520 $599,000
Unit307 1 / 1 870 $280,000
Median 3 / 2 1,520 $599,000


We can see from this report that:

  • Unit 803 a 3 bedroom condo has been listed for sale for $649,000this 3 bedroom 2 bathroom 1520 square foot unit has a list price to square foot price of $427.00
  • Unit 203 a 3 bedroom condo has been listed for sale for $599,000this 3 bedroom 2 bathroom 1520 square foot unit has a list price to square foot price of $394.00
  • Unit 307 a 1 bedroom condo has been listed for sale for $280,000this 1 bedroom 1.5 bathroom 870 square foot unit has a list price to square foot price of $322.00
View Fort Lauderdale condo pending sale here at Ocean Summit
View Fort Lauderdale condo pending sale here at 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 contract and is pending sale here on Ocean Summit – this is the same number of units pending sale as in our last post for October / November 2015

The market analysis report for this unit is presented below

Beds/Baths SF/FF List Price LP$/SqFt
1 / 1 850 $225,000 $265


We can see from this report that a
 1 bedroom 1 bathroom condo – Unit 1109 is pending sale – this 850 square foot condo was offered for sale for $225,000.

This Galt Ocean Mile condo is in “all original” condition.

It needs complete updating and as such is a perfect choice if your looking to to make this unit your very own oasis.

You can watch both the sunrise or sunset from your open balcony.

The condo was being sold “as is”.

The condo has a list price to square foot price of $265.00 and had just 23 days on market.

View from 2 bedroom condo recently sold here at Ocean Summit
View from 2 bedroom condo recently sold here at 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 the same number of 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 $350,000
Low 1 / 1 850 $225,000
Avg 1 / 1 1,020 $285,700
Med 1 / 1 1,020 $262,500


We can see from this report that the median price for a condo sold in Ocean Summit has been 
$262,500 – this being for a 1 bedroom 1 bathroom unit!

In our report for October / November the median price for a condo sold in Ocean Summit was $262,000 – this being for a 1 bedroom 1 bathroom unit!

Median Sales Prices
By Bedroom

Here is our market summary report for median sales prices by bedroom for condos sold here in Ocean Summit over the last 6 months

Beds/Baths SF/FF Sale Price SP$/SqFt
1 / 1 850 $262,000 $286
2 / 2 1,190 $339,500 $285

 

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

  • 1 Bedroom unit sold has been $262,000 – this being for a 1 bedroom 1 bathroom unit of 850 square feet with a sales price to square foot price of $286.00
  • 2 Bedroom units sold has been $339,500 this being for a 2 bedroom 2 bathroom unit of 1190 square feet with a sales price to square foot price of $285.00 

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 $308
Low $265
Avg $286
Med $285


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 $285.00 – this is the same as in our last post!

It is important to note that this is well down from our 4 prior reports:

  • In our August / September report the median was $301.00
  • 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 94%
Med 94%


We can see from this report that BOTH the average and median sales price to list price for condos sold here in Ocean Summit  has been 94%! 

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 could be expected to sell for 94% of that amount or $376,000.

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 95
Med 66


We can see from this report that the median days on market for Fort Lauderdale condos for sale here in Ocean Summit has been 66 days – which is fast!

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  – however median square foot prices have dropped!

Despite this median square foot sales price at $285.00 are still well above those for all of 2014.

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

 

Currently median prices at $285.00 are up $24.00 per square foot or by just over 9% from prices for all of 2014.

Despite dropping for a while – I am confident that median sales prices to square foot price will climb and that we will soon see median prices around the $295.00 – $300.00 mark!

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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