Views from one of the Ocean Summit condos for sale here on Galt Ocean Mile in Fort Lauderdale

Ocean Summit Condos

Ocean Summit Condos
Fort Lauderdale

Welcome to my February / March 2016 post on Ocean Summit Condos for sale.

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 12 condos for sale – 2 of which are new listings 

3 units is currently under contract and is pending sale. There have been 2 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 – Important information for both buyers and sellers!

Key Statistics for Buyers / Sellers

  • Condos for Sale
    Prices from $275,000 – $578,900

Median Prices

  • Median List Price $389,625
     – 1 Bedroom 1 Bathroom Unit 
  • 2 Sales Last 6 Months 
  • Median Sales Price $243,750
    – 1 Bedroom 1 Bathroom Unit
  • Sales to List Price 95%
  • Days on Market 142 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 12 x Ocean Summit condos for sale is presented below – which is up slightly from the 11 units as per our last post on Ocean Summit condos for sale for December 2015 / January 2016!

Our market analysis report is presented below.

 $$ Beds/Baths SF/FF List Price
High 3 / 2 1,520 $578,900
Low 1 / 1 850 $275,000
Avg 2 / 2 1,191 $407,229
Med 2 / 2 1,190 $389,625


We can see from this report that the median price for Fort Lauderdale condo for sale in Ocean Summit  $389,625 –
this being for a 2 bedroom 2 bathroom unit.

Important to note are the increases in median prices over the last few months

Median prices are up over $47,000 or nearly 14% from just a few months ago!

  • In our post for December 2015 / January 2016 the median price for a condo for sale was $369,000
  • In our post for October / November the median price for a condo for sale was $341,950

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 $578,900.

View of Ocean Summit condominium here on Galt Ocean Mile
View of Ocean Summit condominium here on Galt Ocean Mile

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 / 1 940 $279,900 $351
2 / 2 1,190 $399,250 $336
3 / 2 1,520 $573,950 $378

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 940 square feet with a list price to square foot price of $351.00 – Note in our last post the median price for 1 Bedroom units was much the same at $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
  • 2 Bedroom units is $399,250 – this being for a 2 bedroom 2 bathroom unit of 1190 square feet with a list price to square foot price of $336.00 – Note in our last post the median price for 2 Bedroom units was lower at $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
  • 3 Bedroom units is $573,950 – this being for a 3 bedroom 2 bathroom unit of 1520 square feet with a list price to square foot price of $378.00 

Kevin Wirth Fort Lauderdale Realtor

Buying / Selling?
Call Me Today!

Kevin Wirth – Realtor
954-459-0337

Click here to email me now

Search Galt Ocean Mile Condos 
View Galt Ocean Mile New Listings
View Fort Lauderdale condo pending sale in Ocean Summit
View Fort Lauderdale condo pending sale in Ocean Summit

Ocean Summit
New Listings

There has been 2 new listings here in Ocean Summit Fort Lauderdale in the last 30 days – this is down from 3 new listings as per our last post!

The market analysis report for these units is presented below

Condo  Beds/Baths SF/FF List Price
Unit 905 2 / 2 1,340 $500,000
Unit1712 2 / 2 1,190 $424,900
Med 2 / 2 1,265 $462,450


We can see from this report that the median price for a new listing is $462,450 –
this being for a 2 bedroom 2 bathroom unit of 1265 square feet with a list price to square foot price of $365.00:

Our notes on both of these new listings are presented below:

  • Unit 905 a 2 bedroom condo has been listed for sale for $500,000this 2 bedroom 2 bathroom 1340 square foot unit has a list price to square foot price of $373.00.  This unit is in the South East end stack..and as such offers “vast” direct ocean views.  This unit gets Sun all day and features: tile, wood, impact windows, a washer and dryer.  The unit has neutral colors, is turnkey and tastefully updated.
  • Unit 1712 also a 2 bedroom condo has been listed for sale for $424,900this 2 bedroom 2 bathroom 1265 square foot unit has a list price to square foot price of $365.00.  This unit is a “Fabulous” corner penthouse.  The condo is immaculate and has been remodeled with a wide open great room full of natural light.  You will love the panoramic view of the Intracoastal, city lights & breathtaking sunsets. There is an ocean view from balcony. 
View from an oceanfront unit pending sale here in Ocean Summit
View from an oceanfront unit 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 3 condos that are under contract and is pending sale here on Ocean Summit – this is up from just 1 unit pending sale as per our December 2015 / January 2016 post.

The market analysis report for these units are presented below

 Condo Beds/Baths SF/FF List Price
Unit 502 2 / 2 1,190 $299,900
Unit 307 1 / 1 0 $280,000
Unit1109 1 / 1 850 $225,000
Average 1 / 1 1,020 $268,300
Median 1 / 1 1,020 $280,000


We can see from this report that that median price for a condo currently pending sale here in Ocean Summit is $280,000 –
this being for a 1 bedroom 1 bathroom unit of 1020 square feet with a list price to square foot price of $265.00

Our notes on these units pending sale are presented below:

  • Unit 502 a 2 bedroom condo listed for sale for $299,900 is now pending salethis 2 bedroom 2 bathroom 1190 square foot unit has a list price to square foot price of $252.00.  This unit is a very nice and spacious 2 bedroom unit with ocean views and a NE exposure. The condo has an updated kitchen with wet bar and there is tile in the living areas and carpet in bedrooms.
  • Unit 307 a 1 bedroom condo listed for sale for $280,000 is now pending sale – this 1 bedroom 1 bathroom 870 square foot unit has a list price to square foot price of $322.00.  This unit offers “Great” ocean views from all rooms an is a very well maintained condo in full amenities high rise here on prestigious Galt Ocean Mile.
  • Unit 1109 a 1 bedroom condo listed for sale for $225,000 is now pending sale – this 1 bedroom 1 bathroom 850 square foot unit has a list price to square foot price of $265.00.  This unit is in “original condition” and needs updating.  The condo is perfect to make this your very own oasis and you will love watching the sunrise or sunset from your open balcony. This condo is being sold “As Is”.
Stunning ocean and pool views from a condo here in Ocean Summit Fort Lauderdale
Stunning ocean and pool views from a condo here in Ocean Summit

Ocean Summit
Sales Last 6 Months

There have been just 2 x Fort Lauderdale condos sold in Ocean Summit over the last 6 months – this is down from 5 units as per our last post!

All sales over the last 6 months have been for 1 bedroom units!

The market analysis report for these sales is presented below.

 $$ Beds/Baths SF/FF Sale Price
High 1 / 1 850 $262,500
Low 1 / 1 850 $225,000
Avg 1 / 1 850 $243,750
Med 1 / 1 850 $243,750


We can see from this report that the median price for a condo sold in Ocean Summit has been 
$243,750 – this being for a 1 bedroom 1 bathroom unit of 850 square feet!

We can also see that the highest price paid for a condo over the last 6 months was $262,500 – this also being for a 1 bedroom unit.

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
Avg $265
Med $265


We can see from this report that BOTH the average and median price paid per square foot for a condo sold in this complex over the last 6 months has been $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 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 142
Med 142


We can see from this report that the median days on market for Fort Lauderdale condos for sale here in Ocean Summit has been 142 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

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

Units in this complex are typically spacious and afford good views.

Currently with 12 condos for sale there is a great range of choice.  

It is good to see sales starting to move with 3 units pending sale and I am sure as we move into 2016 that we will see sales volume pick up.

 

Kevin Wirth Realtor

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

Kevin Wirth Realtor


.