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Ocean Summit Condos

Ocean Summit Condos
Fort Lauderdale

Welcome to my April / May 2017 post on Ocean Summit 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.

 

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Currently there are 8 condos for sale – 1 of which is a new listing.

There have been 5 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!

Key Statistics for Buyers / Sellers

  • Condos for Sale
    Prices from $244,900 – $529,500

Median Prices

  • Median List Price $372,000
     – 2 Bedroom 2 Bathroom Unit 
  • 5 Sales Last 6 Months
  • Median Sales Price $278,000
    – 1 Bedroom Units $242,500
    – 2 Bedroom Units $305,000
  • Sales Price to Sq Ft Price $256.00
  • Sales to List Price 93%
  • Days on Market 110 Days

Ocean Summit
Condos for Sale

The market analysis report for the 8 x Ocean Summit condos for sale Fort Lauderdale is presented below.

This is up slightly from the 7 units as per our last post on Ocean Summit condos for sale for February / March 2017!

Our market analysis report is presented below.

 $$ Beds/Baths SF/FF List Price
High 3 / 2 1,520 $529,500
Low 1 / 1 1,100 $244,900
Avg 2 / 2 1,241 $391,112
Med 2 / 2 1,200 $372,000

We can see from this report that the median price for Fort Lauderdale condo for sale in Ocean Summit $372,000 – this being for a 2 bedroom 2 bathroom unit.

In our last post the median price for a condo for sale was $342,000 – this being for a 2 bedroom 2 bathroom unit.

In our prior post the median price for a condo for sale was $335,000 – this being for a 2 bedroom 2 bathroom unit.

Note how median prices for Galt Ocean Mile condos for sale here in Ocean Summit are on the rise – up over $35,000 in just a few months!

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

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

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 / 1 938 $244,900 $261
2 / 2 1,195 $372,000 $310
3 / 2 1,520 $529,500 $348

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

  • 1 Bedroom Ocean Summit condos for sale is $244,900 – this being for a 1 bedroom 1 bathroom unit of 938 square feet with a list price to square foot price of $261.00 – Note in our last post the median price for 1 Bedroom units was higher at $267,950 – this being for a 1 bedroom 1 bathroom unit of 940 square feet with a list price to square foot price of $285.00
  • 2 Bedroom Ocean Summit condos for sale is $372,000 – this being for a 2 bedroom 2 bathroom unit of 1195 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 lower at $365,000 – this being for a 2 bedroom 2 bathroom unit of 1190 square feet with a list price to square foot price of $304.00
  • 3 Bedroom Ocean Summit condos for sale is $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 – 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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View Galt Ocean Mile New Listings

 

Views Fort Lauderdale condo just listed for sale Ocean Summit Galt Ocean Mile
Views Fort Lauderdale condo just listed for sale Ocean Summit here on Galt Ocean Mile

Ocean Summit
New Listings

There has been 1 new listing of a condo for sale here in Ocean Summit over the last 30 days

In our last post there were 2 new listings of Ocean Summit condos for sale over the prior 30 days – a 2 bedroom unit and a 1 bedroom unit!

Our Market Analysis Report for this new listing is presented below:

Beds/Baths SF/FF List Price LP$/SqFt
2 / 2 1,200 $389,000 $324

We can see from this report that a 2 Bedroom Ocean Summit condo has just been listed for sale for $389,000this 2 bedroom 2 bathroom 1200 square foot unit has a list price to square foot price of $324.00

This Galt Ocean Mile condo for sale offers a bright, spacious and open floorplan.  The unit has windows everywhere so it gets a lot of light.

Other features include a washer and dryer inside the unit, a huge master bedroom and large 2nd bedroom and impact windows throughout.

View Galt Ocean Mile condo pending sale Ocean Summit - Unit 907
Views Galt Ocean Mile condo pending sale Ocean Summit – Unit 907

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 2 units pending sale here in Ocean Summit – both of these are 1 bedroom units!

In our last post there were 2 units pending sale!

Our market analysis report for this unit is presented below:

Beds/Baths SF/FF List Price LP$/SqFt
1 / 1 870 $300,000 $345

We can see from this report that Unit 907 a 1 Bedroom Ocean Summit condo listed for sale for $300,000 is now pending salethis 1 bedroom 1 bathroom 870 square foot unit has a list price to square foot price of $345.00

Unit 907 offers spectacular ocean views and is a 1 bedroom -1.5 bathroom condo.

The unit has a large south facing balcony and a washer and dryer.

View Galt Ocean Mile condo recently sold in Ocean Summit - Unit 1710
View most expensive Galt Ocean Mile condo recently sold in Ocean Summit – Unit 1710!

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 the same nunber as in our last post but is down from 7 units in our prior post!

The market analysis report for these sales is presented below.

 $$ Beds/Baths SF/FF Sale Price
High 2 / 2 1,300 $375,000
Low 1 / 1 850 $235,000
Avg 2 / 2 1,070 $288,600
Med 2 / 2 1,065 $278,000

We can see from this report that the median price for a condo sold in Ocean Summit has been $278,000 – this being for a 2 bedroom 2 bathroom unit of 1065 square feet – down from our last 2 posts! 

In our last post the median price for a condo sold in Ocean Summit over the prior 6 months was $340,000 – this being for a 2 bedroom 2 bathroom unit of 1245 square feet

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

Below we outline the median sales prices for both 2 bedroom and 3 bedroom units sold here in Ocean Summit.

View Fort Lauderdale condo recently sold here in Ocean Summit
View from a direct oceanfront Fort Lauderdale condo recently 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 / 1 895 $242,500 $272
2 / 2 1,245 $305,000 $256

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

  • 1 Bedroom Ocean Summit condos sold has been $242,000 – this being for a 1 bedroom 1 bathroom 895 square foot unit with a sales price to square foot price of $272.00 Note in our last post there were no 1 bedroom units sold over the preceding 6 months based on MLS data.  
  • 2 Bedroom Ocean Summit condos sold has been $305,000 – this being for a 2 bedroom 2 bathroom unit of 1245 square feet with a list price to square foot price of $256.00.  In our last post the median price for 2 bedroom units sold was higher at $322,500 – this being for a 2 bedroom 2 bathroom unit of 1190 square feet with a list price to square foot price of $283.00.
  • 3 Bedroom Ocean Summit condos – no 3 bedroom units have been sold over the last 6 months – In our last post however the median sales price was $485,000 – this being for a 3 bedroom 2 bathroom unit of 1625 square feet with a list price to square foot price of $319.00.

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 $313
Low $234
Avg $269
Med $256

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 $256.00 per square foot!

In our last 2 posts the median price paid per square foot for a condo in this complex over the last 6 months was $309.00 per square foot!

% 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 93%

We can see from this report that the median sales price to list price for condos sold here in Ocean Summit  has been 93%this is well 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 MLS median sales data the condo could be expected to sell for 93% of that amount or $372,000.

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 110
Med 110

We can see from this report that BOTH the average and median days on market for Fort Lauderdale condos for sale here in Ocean Summit have been 110 days – or just under 4 months!

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 SF/FF Sale Price
Unit1710 2 / 2 1,300 $375,000
Unit 210 2 / 2 1,190 $305,000
Unit 614 2 / 2 1,100 $278,000
Unit 715 1 / 1 850 $250,000
Unit 416 1 / 1 940 $235,000

We can see from this report the details for each condo sold – including the most expensive sale over the last 6 months, which was for unit 1710 a 2 bedroom 2 bathroom condo which sold for $375,000 – (see photo above in blog post)

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 a great range of units for sale – with a total of 8 units for sale and 1 bedroom, 2 bedroom and 3 bedroom units to choose from.

There are currently some very well priced units too and median sales prices have been softening!

Sales activity and prices have remained strong over the last 6 months – which reflects the demand for Galt Ocean Mile condos in this great complex!

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

Kevin Wirth Realtor


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