Look at the superb views from this Fort Lauderdale oceanfront condo for sale in Ocean Summit

Ocean Summit Condos

Ocean Summit Condos
Fort Lauderdale

Welcome to my May / June 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 10 condos for sale – 3 of which are new listings 

There have been 4 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 $240,000 – $529,000

Median Prices

  • Median List Price $370,000
     – 2 Bedroom 2 Bathroom Unit 
  • 4 Sales Last 6 Months 
  • Median Sales Price $282,000
    – 1 Bedroom Unit $245,000

    – 2 Bedroom Unit $332,000
  • Sales to List Price 97%
  • Days on Market 131 Days
View Ocean Summit condominium here on Galt Ocean Mile
View Ocean Summit condominium here on Galt Ocean Mile

Ocean Summit
Condos for Sale

The market analysis report for the 10 x Ocean Summit condos for sale is presented below – which is down slightly from the 12 units as per our last post on Ocean Summit condos for sale for Feb / March 2016!

Our market analysis report is presented below.

 $$ Beds/Baths SF/FF List Price
High 3 / 2 1,625 $529,000
Low 1 / 1 850 $240,000
Avg 2 / 2 1,142 $381,370
Med 2 / 2 1,190 $370,000


We can see from this report that the median price for Fort Lauderdale condo for sale in Ocean Summit $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 $529,000.

Pool views from a condo for sale in Ocean Summit
Pool views from a condo for sale 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 $259,900 $306
2 / 2 1,190 $396,950 $338
3*/ 2 1,625 $529,000 $348

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

  • 1 Bedroom units is $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 – Note in our last post the median price for 1 Bedroom units was $20,000 higher at $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
  • 2 Bedroom units is $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 in our last post the median price for 2 Bedroom units was slightly higher at $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
  • 3 Bedroom units is $529,000 – this being for a 3 bedroom 2 bathroom unit of 1625 square feet with a list price to square foot price of $348.00 – Note in our last post the median price for 3 Bedroom units was over $40,000 higher at $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

Note: Only 1 x 3 bedroom units is currently 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 3 new listings here in Ocean Summit Fort Lauderdale in the last 30 days – this is up from 2 new listings as per our last post!

The market analysis report for these units is presented below

 $$ Beds/Baths SF/FF List Price
High 3 / 2 1,625 $529,000
Low 1 / 1 850 $259,900
Avg 2 / 2 1,221 $424,633
Med 2 / 2 1,190 $485,000


We can see from this report that the median price for a new listing is $485,000 –
this being for a 2 bedroom 2 bathroom unit of 1190 square feet with a list price to square foot price of $348.00

In our last post the median price for a new listing was $462,450 – this also being for a 2 bedroom 2 bathroom unit of 1265 square feet with a list price to square foot price of $365.00

It is important to note that the list price to square foot price is down from $365.00 to $348.00. 

View 3 bedroom condo just listed for sale in Ocean Summit
View 3 bedroom condo just listed for sale in Ocean Summit here on The Galt

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 no units pending sale here in Ocean Summit.

In our last post 3 condos were under contract and is pending sale here on Ocean Summit.  The median price for a condo pending sale in our last report was $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

View from a Fort Lauderdale condo recently sold in Ocean Summit
View from a Fort Lauderdale condo recently sold in Ocean Summit

Ocean Summit
Sales Last 6 Months

There have been 4 x Fort Lauderdale oceanfront condos sold in Ocean Summit over the last 6 months – this is up from just 2 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 1,190 $365,000
Low 1 / 1 850 $225,000
Avg 1.5/1.5 1,076 $288,500
Med 1.5/1.5 1,190 $282,000


We can see from this report that the median price for a condo sold in Ocean Summit has been 
$282,000 

In our last post the median price paid was  $243,750 – this being for a 1 bedroom 1 bathroom unit of 850 square feet!

Important to note is that 2 x 1 bedroom units were sold and 2 x 2 bedroom units – giving us the median of 1.5/1.5.

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 / 1 850 $245,000 $265
2 / 2 1,190 $332,000 $279

 

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

  • The 2 x 1 Bedroom units sold has been $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 $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 $307
Low $251
Avg $274
Med $265


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 $265.00

In our last post BOTH the average and 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 97%
Med 97%


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 97%this is up from 95% 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 97% of that amount or $388,000.

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 148
Med 131


We can see from this report that the median days on market for Fort Lauderdale condos for sale here in Ocean Summit has been 131 days!

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


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