View Galt Ocean Mile condo for sale Ocean Summit Fort Lauderdale - Unit 810

Ocean Summit Condos

Ocean Summit Condos
Fort Lauderdale

Welcome to my August / September 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 4 condos for sale – all 2 bedroom units!

There have been 7 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 $275,000 – $425,000

Median Prices

  • Median List Price $381,000
     – 2 Bedroom 2 Bathroom Unit 
  • 7 Sales Last 6 Months
  • Median Sales Price $283,500
    – 2 Bedroom 2 Bathroom Unit
  • Sales Price to Sq Ft Price $276.00
  • Sales to List Price 96%
  • Days on Market 51 Days
View Fort Lauderdale oceanfront condo for sale Ocean Summit Galt Ocean Mile
View Fort Lauderdale oceanfront condo for sale Ocean Summit here on Galt Ocean Mile

Ocean Summit
Condos for Sale

The market analysis report for the 3 x Ocean Summit condos for sale Fort Lauderdale is presented below –  This is down from 4 condos for sale as per our last post for June / July 2017!

The number of units for sale over the last few months is well down!   There were 8 condo units for sale in our post for April / May 2017!

Our market analysis report is presented below.

BEDS / BATHS LA LP$
Min 1 / 1 940 $275,000
Max 2 / 2 1190 $425,000
Avg 2 / 2 1076 $360,333
Median 2 / 2 1100 $381,000

We can see from this report that the median price for Fort Lauderdale condo for sale in Ocean Summit $381,500 – this being for a 2 bedroom 2 bathroom unit.

In our last post the median price for a condo for sale was higher at $422,000 – this being for a 2 bedroom 2 bathroom unit.

Another useful gauge 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 LA LP$ LP$/SqFt
1 / 1 940 $275,000 $293.00
2 / 2 1145 $403,000 $357.00

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

  • 1 Bedroom Ocean Summit condos for sale  is $275,000 – this being for a 1 bedroom 1 bathroom unit of 940 square feet with a list price to square foot price of $293.00 – In our earlier post when 1 bedroom units were offered for sale the median price for 1 Bedroom units was lower at $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
  • 2 Bedroom Ocean Summit condos for sale is $403,000 – this being for a 2 bedroom 2 bathroom unit of 1195 square feet with a list price to square foot price of $360.00 – Note in our last post the median price for 2 Bedroom units was higher at $422,500 – this being for a 2 bedroom 2 bathroom unit of 1195 square feet with a list price to square foot price of $360.00
  • Currently there are no 3 Bedroom Ocean Summit condos for sale is  – However in our earlier post when 3 bedroom units were offered for sale the median price for 3 Bedroom units was $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

 

Kevin Wirth Fort Lauderdale Realtor

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

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Ocean Summit
New Listings

There has been no new listings of condos for sale here in Ocean Summit over the last 30 days

However there was 1 condo listed for sale over the last 60 days.

Our market analysis report for this unit is presented below

BEDS / BATHS LA LP$ LP$/SqFt
1 / 1 940 $275,000 $293.00

We can see from this report that a 1 bedroom Ocean Summit condo – Unit 916 was listed for sale for $275,000this 1 bedroom 1 bathroom 940 square foot unit has a list price to square foot price of $293.00

This Galt Ocean Mile condo is waiting for new owners to update to their taste. Tons of possibilities here.  The unit has high impact windows and is an incredible price for a condo on the beach! 

This unit comes with or without covered parking (a garage in this building is worth $25,000). Asking price without the garage is $250,000.

View condo pending sale Ocean Summit Galt Ocean Mile - Unit 1706
View condo pending sale Ocean Summit Galt Ocean Mile – Unit 1706

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 3 units pending sale here in Ocean Summit – all 2 bedroom condos!

In our last post for June / July 2017 there was just 1 unit pending sale – Unit 1516 a 1 bedroom condo.

Our market analysis report for the 3 units pending sale is presented below:

BEDS / BATHS LA LP$
Min 2 / 2 1190 $325,000
Max 2 / 2 1290 $465,000
Avg 2 / 2 1226 $375,967
Median 2 / 2 1200 $337,900

We can see from this report that the average price of a Galt Ocean Mile condo pending sale here in Ocean Summit is $375,967 and that the median price is $337,900.

Both the average and median prices are based on 2 bedroom 2 bathroom units of between 1200 and 1226 square feet.

Ocean Summit
Pending Sales by Unit

There are currently 3 units pending sale here in Ocean Summit – all 2 bedroom condos!

Here is our market summary report for each of these 3 units

CONDO BEDS / BATHS LA LP$
Unit 1706 2 / 2 1290 $465,000
Unit 614 2 / 2 1200 $337,900
Unit 412 2 / 2 1190 $325,000

We can see from this summary report that:

Ocean Summit Unit 1706 listed for sale for $465,000 is now pending salethis 2 bedroom 2 bathroom 1290 square foot unit had a list price to square foot price of $360.00

You will love the gorgeous South East views from every room in this 2 bedroom 2 bathroom penthouse unit!

The condo is open and bright kitchen with beautiful cabinetry and granite counters.   The unit features: Hi-end molding through-out with cove lighting in living/dining areas and beautifully renovated bathrooms!

Ocean Summit Unit 614 listed for sale for $337,900 is now pending salethis 2 bedroom 2 bathroom 1200 square foot unit had a list price to square foot price of $282.00

This condo is offered for sale by a motivated seller!

The condo is spacious with an open floor plan with windows everywhere in unit!  As such this unit gets a lot of light and has a nice flow of space!  The unit has a washer and dryer and a huge master bedroom and large 2nd bedroom.  There are impact windows throughout!!

Ocean Summit Unit 412 listed for sale for $325,000 is now pending sale this 2 bedroom 2 bathroom 1190 square foot unit had a list price to square foot price of $273.00

This 2 bedroom unit is an amazingly low priced condo allows you to see the ocean from your own balcony.

You will love the ocean views from the living room and balcony.  From this dining room you will be able to see beautiful sunsets.  The unit has a washer/dryer and a deeded garage space is included.

Oceanfront views Galt Ocean Mile condo recently sold Ocean Summit - Unit 305
Oceanfront views Galt Ocean Mile condo recently sold Ocean Summit – Unit 305

Ocean Summit
Sales Last 6 Months

There have been 7 x Fort Lauderdale oceanfront condos sold in Ocean Summit over the last 6 months

In our last post there had a;lso been 7 Ocean Summit condos sold over the preceding 6 months!

The market analysis report for these 7 sales is presented below.

BEDS / BATHS LA SP$
Min 1 / 1 850 $230,000
Max 3 / 2 1520 $495,000
Avg 1 / 1 1090 $314,071
Median 1 / 1 1020 $283,500

We can see from this report that the average sales price for a condo sold in Ocean Summit has been $314,071 – this being for a 1 bedroom 1 bathroom unit of 1090 square feet.

We can also see that that median price for a condo sold in Ocean Summit has been $283,500 – this being for a 1 bedroom 1 bathroom unit of 1020 square feet

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 LA SP$ SP$/SqFt
1 / 1 940 $242,500 $250.00
2 / 2 1145 $349,250 $303.00
3 / 2 1520 $495,000 $326.00

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

  • 1 Bedroom Ocean Summit condos sold has been $242,500 – this being for a 1 bedroom 1 bathroom 940 square foot unit with a sales price to square foot price of $250.00 – In our last post the median for 1 Bedroom Ocean Summit condos sold was higher at $250,000 – this being for a 1 bedroom 1 bathroom 895 square foot unit with a sales price to square foot price of $272.00
  • 2 Bedroom Ocean Summit condos sold has been $349,250 – this being for a 2 bedroom 2 bathroom unit of 1145 square feet with a sales price to square foot price of $303.00.  In our last post the median price for 2 bedroom units sold was higher at $375,000 – this being for a 2 bedroom 2 bathroom unit of 1190 square feet with a sales price to square foot price of $313.00.
  • 3 Bedroom Ocean Summit condos sold has been $495,000 – this being for a 3 bedroom 2 bathroom unit of 1520 square feet with a sales price to square foot price of $326.00 – This is the same as in our last post!

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
Min $245.00
Max $349.00
Avg $287.00
Median $276.00

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 $276.00 per square foot!

In our last post the median price paid per square foot for a condo in this complex over the last 6 months was higher at $303.00 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$/LP$
Min 93%
Max 98%
Avg 96%
Median 96%

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 96%

The median is the same as 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 96% of that amount or $384,000.

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.

DOM
Min 24
Max 260
Avg 95
Median 51

We can see from this report that the median days on market for Fort Lauderdale condos for sale here in Ocean Summit have been 51 days – or under 2 months!

This is the same as in our last post!

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 LA SP$
Unit 1503 3 / 2 1520 $495,000
Unit 305 2 / 2 1190 $415,000
Unit 907 1 / 1 870 $290,000
Unit 202 2 / 2 1100 $283,500
Unit 715 1 / 1 850 $250,000
Unit 416 1 / 1 940 $235,000
Unit 1516 1 / 1 940 $230,000

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 1503 a 3 bedroom 2 bathroom condo which sold for $495,000.

Unit 1503 sold for 93% of its list price and had just 45 days on market!

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 currently have a limited range of units for sale!

Sales activity has continued to be strong over the last 6 months and now 3 more units are pending sale – 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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