View from one of the Fort Lauderdale condos for sale here in Ocean Summit

Ocean Summit Condos

Ocean Summit Condos
Fort Lauderdale

Welcome to my August / September 2016 post on Ocean Summit Condos for sale 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 6 condos for sale. 

There have been 5 sales over the last 6 months and 4 homes are 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 and 2 bedrooms units over the last 6 months!

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

Key Statistics for Buyers / Sellers

  • Condos for Sale
    Prices from $240,000 – $365,000

Median Prices

  • Median List Price $320,000
     – 2 Bedroom 2 Bathroom Unit 
  • 5 Sales Last 6 Months 
  • Median Sales Price $365,000
    – 1 Bedroom Unit $265,000

    – 2 Bedroom Unit $382,500
  • Sales to List Price 95%
  • Days on Market 167 Days
View of Ocean Summit condominium from the beach at Galt Ocean Mile
View of Ocean Summit condominium from the beach at Galt Ocean Mile

Ocean Summit
Condos for Sale

The market analysis report for the 6 x Ocean Summit condos for sale is presented below – which is down from the 10 units as per our last post on Ocean Summit condos for sale for May / June 2016!

Our market analysis report is presented below.

 $$ Beds/Baths SF/FF List Price
High 2 / 2 1,200 $365,000
Low 1 / 1 870 $240,000
Avg 2 / 2 1,090 $317,913
Med 2 / 2 1,145 $320,000


We can see from this report that the median price for Fort Lauderdale condo for sale in Ocean Summit $320,000 –
this being for a 2 bedroom 2 bathroom unit.

In our last post the median price for a condo for sale was $370,000 – this being for a 2 bedroom 2 bathroom unit.

In our last post the median price for a condo for sale was $389,625 – this also being for a 2 bedroom 2 bathroom unit.

We can also see that the lowest price unit is offered for sale for $240,000 and the most expensive unit is offered for sale here $365,000.

It is important to note that the drop in median price reflect more a change in the mix of units for sale than a softening of list prices.    

In our last post we had more 2 bedroom units for sale – currently we have more 1 bedroom units for sale which is reflected in a lower median price.

A good guage of pricing for Ocean Summit condos for sale is to view prices by bedroom – which we do below.

View from a 1 bedroom oceanfront condo for sale here in Ocean Summit
View from a 1 bedroom oceanfront condo for sale here in Ocean Summit

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 $282,500 $325
2 / 2 1,190 $338,850 $284

 

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

  • 1 Bedroom units is $282,500 – this being for a 1 bedroom 1 bathroom unit of 870 square feet with a list price to square foot price of $325.00 – Note in our last post the median price for 1 Bedroom units was lower at $259,900 – this being for a 1 bedroom 1 bathroom unit of 870 square feet with a list price to square foot price of $306.00
  • 2 Bedroom units is $338,850 – this being for a 2 bedroom 2 bathroom unit of 1190 square feet with a list price to square foot price of $284.00 – Note in our last post the median price for 2 Bedroom units was higher at $396,950 – this being for a 2 bedroom 2 bathroom unit of 1190 square feet with a list price to square foot price of $338.00

Note: There are currently no 3 bedroom Ocean Summit condos 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

Ocean Summit
New Listings

There has been no new listings here in Ocean Summit over the last 30 days.

In our last post there were 3 new listings of Ocean Summit condos for sale over the prior 30 days!

View of Ocean Summit condominium here on Galt Ocean Mile in Fort Lauderdale
View of Ocean Summit condominium here on Galt Ocean Mile in Fort Lauderdale

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 are currently 4 units pending sale here in Ocean Summit.

In our last post there were no units pending sale.

Our market analysis report for these condos pending sale is presented below.

 $$ Beds/Baths SF/FF List Price
High 3 / 2 1,625 $499,900
Low 1 / 1 850 $259,900
Avg 2 / 2 1,111 $367,925
Med 2 / 2 985 $355,950

 

We can see from this report that the median price for a unit pending sale is $355,950 – this being for a 2 bedroom 2 bathroom unit.

Again it is important to look at the pending sales data by bedroom.

View from a 2 bedroom Galt Ocean Mile condo pending sale here in Ocean Summit
View from a 2 bedroom Galt Ocean Mile condo pending sale here in Ocean Summit

Ocean Summit
Pending Sales by Bedroom

Here is our market summary report showing median prices by bedroom.

Beds/Baths SF/FF List Price LP$/SqFt
1 / 1 860 $310,900 $339
2 / 2 1,100 $350,000 $318
3 / 2 1,625 $499,900 $329

 

We can see from this report that the median price for

  • The 2 x 1 Bedroom Ocean Summit condos pending sale is $310,900this being for a 860 square foot unit with a list price to square foot price of $339.00
  • The 1 x 2 Bedroom Ocean Summit condo pending sale is $350,000this being for a 1000 square foot unit with a list price to square foot price of $318.00
  • The 1 x 3 Bedroom Ocean Summit condo pending sale is $499,900this being for a 1625 square foot unit with a list price to square foot price of $329.00
View from a 2 bedroom condo recently sold here in Ocean Summit
View from a 2 bedroom condo recently sold here in Ocean Summit

Ocean Summit
Sales Last 6 Months

There have been 5 x Fort Lauderdale oceanfront condos sold in Ocean Summit over the last 6 months – this is up from 4 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 1,340 $417,500
Low 1 / 1 1,190 $265,000
Avg 2 / 2 1,227 $349,300
Med 2 / 2 1,190 $365,000

 

We can see from this report that the median price for a condo sold in Ocean Summit has been $365,000 – this being for a 2 bedroom 2 bathroom unit of 1190 square feet. 

Below we outline the median sales prices for both 1 bedroom and 2 bedroom units sold here in Ocean Summit.

Median Sales Prices
By Bedroom

Here is our market summary report showing 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 / 1 870 $265,000 $304
2 / 2 1,190 $382,500 $303

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

  • The 2 x 1 Bedroom units sold has been $265,000 – this being for a 1 bedroom 1 bathroom unit of 870 square feet with a list price to square foot price of $304.00.  In our last post the median price for the 2 x 1 Bedroom units sold was lower at $245,000 – this being for a 1 bedroom 1 bathroom unit of 850 square feet with a list price to square foot price of $265.00.
  • The 2 x 2 Bedroom units sold has been $382,500 – this being for a 2 bedroom 2 bathroom unit of 1190 square feet with a list price to square foot price of $303.00.  In our last post the median price for the 2 x 2 bedroom units sold was lower at $332,000 – this being for a 2 bedroom 2 bathroom unit of 1190 square feet with a list price to square foot price of $279.00.

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 $351
Low $251
Avg $302
Med $303


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 $303.00

In our last 2 posts the median price paid per square foot for a condo in this complex over the last 6 months was $265.00

% 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 95%
Med 95%


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 95%this is down from 97% in our last post!

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 95% of that amount or $380,000.

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 162
Med 167


We can see from this report that the median days on market for Fort Lauderdale condos for sale here in Ocean Summit has been 167 days – this is up from 131 days in our last post.

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

Ocean Summit is a great complex set right on the sand here on Galt Ocean Mile in Fort Lauderdale.

 

We have had some great sales activity over the last couple of months – with 4 units now pending sale.

Demand has been strong for 2 and 3 bedroom units which is really encouraging.

Currently we still have a good range of Ocean Summit condos for sale – especially 1 bedroom units.

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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