View Fort Lauderdale oceanfront condo for sale Ocean Summit Galt Ocean Mile

Ocean Summit Condos

Ocean Summit Condos
Fort Lauderdale

Welcome to my June / July 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 $369,900 – $479,000

Median Prices

  • Median List Price $422,500
     – 2 Bedroom 2 Bathroom Unit 
  • 7 Sales Last 6 Months
  • Median Sales Price $290,000
    – 2 Bedroom 2 Bathroom Unit
  • Sales Price to Sq Ft Price $303.00
  • Sales to List Price 96%
  • Days on Market 51 Days
Beach views Galt Ocean Mile condo for sale in Ocean Summit
Beach views Galt Ocean Mile condo for sale in Ocean Summit

Ocean Summit
Condos for Sale

The market analysis report for the 4 x Ocean Summit condos for sale Fort Lauderdale is presented below.

Note: The number of units for sale is well down from the 8 units as per our last post on Ocean Summit condos for sale for April / May 2017!

Our market analysis report is presented below.

$$ BEDS / BATHS LA LP$
Min 2 / 2 1100 $369,000
Max 2 / 2 1290 $479,000
Avg 2 / 2 1195 $423,250
Median 2 / 2 1195 $422,500

We can see from this report that the median price for Fort Lauderdale condo for sale in Ocean Summit $422,500 – this being for a 2 bedroom 2 bathroom unit.

In our last post the median price for a condo for sale was $372,000 – this being for a 2 bedroom 2 bathroom unit.

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

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

It is important to note how median prices for Galt Ocean Mile condos for sale here in Ocean Summit are on the rise – up over 26% or by $87,500 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.

This is particularly relevant this months post as we only have 2 bedroom condos for sale!

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$
Median 2 / 2 1195 $422,500

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

  • Currently there are no 1 Bedroom Ocean Summit condos for sale However in our last post the median price for 1 Bedroom units was 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 $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 – 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 1195 square feet with a list price to square foot price of $310.00
  • Currently there are no 3 Bedroom Ocean Summit condos for sale is  – However in our last post 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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View Galt Ocean Mile New Listings

 

View oceanfront condo pending sale in Ocean Summit - Unit 1516
View oceanfront condo pending sale in Ocean Summit – Unit 1516

Ocean Summit
New Listings

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

In our last post there was 1 new listing of an Ocean Summit condo for sale over the prior 30 days – a 2 bedroom unit!

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 just 1 unit pending sale here in Ocean Summit.

Our market analysis report for this unit is presented below:

BEDS / BATHS LA LP$ LP$/SqFt
1 / 1 940 $244,900 $261.00

We can see from this report that Unit 1516 a 1 Bedroom Ocean Summit condo listed for sale for $244,900 is now pending salethis 1 bedroom 1 bathroom 940 square foot unit has a list price to square foot price of $261.00

Unit 1516 is a 15th Floor unit that faces north and offers breathtaking views of the beach and skyline!

This condo is a very well kept 1 bedroom 1.5 bathroom unit with a spacious balcony.  The unit has impact windows which allow plenty of natural light.

The unit is being offered fully furnished

View Fort Lauderdale oceanfront condo recently sold in Ocean Summit - Unit 1503
View Fort Lauderdale oceanfront condo recently sold in Ocean Summit – Unit 1503

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 been 5 units 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 $235,000
Max 3 / 2 1520 $495,000
Avg 2 / 2 1133 $334,785
Median 2 / 2 1145 $290,000

We can see from this report that the median price for a condo sold in Ocean Summit has been $290,000 – this being for a 2 bedroom 2 bathroom unit of 1145 square feet – up from our last post but still well down from prior posts! 

In our last post the median price for a condo sold in Ocean Summit over the prior 6 months was$278,000 – this being for a 2 bedroom 2 bathroom unit of 1065 square feet

In our prior 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 earlier 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.

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 / 1 895 $250,000 $272.00
2 / 2 1190 $375,000 $313.00
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 $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 – In our last post the median for 1 Bedroom Ocean Summit condos sold was a little less at $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
  • 2 Bedroom Ocean Summit condos sold has been $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.  In our last post the median price for 2 bedroom units sold was much lower at $305,000 – this being for a 2 bedroom 2 bathroom unit of 1245 square feet with a sales price to square foot price of $256.00.
  • 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 – In our last post no 3 bedroom units have been sold over the preceding last 6 months!

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 $250.00
Max $349.00
Avg $298.00
Median $303.00

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 $303.00 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 $256.00 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 89%
Max 98%
Avg 95%
Median 96%

We can see from this report that the median sales price to list price for condos sold here in Ocean Summit  has been 96%this is well up from 93% 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 101
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!

It is important to note that this is well down from 110 days or just under 4 months 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 1710 2 / 2 1200 $375,000
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

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 great range of 2 bedroom units for sale!

Sales activity has been strong over the last 6 months and median sales prices are on the rise – 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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