View Ocean Summit Galt Ocean Mile condos for sale Fort Lauderdale

Ocean Summit Condos

Ocean Summit Condos
Fort Lauderdale

Welcome to my October / November 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.

 

Search Ocean Summit Condos for Sale

 

Currently there are 5 condos for sale – 1 of which is a new listing.

There have been 6 sales over the last 6 months and 2 units are 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 $250,000 – $495,000

Median Prices

  • Median List Price $395,000
     – 2 Bedroom 2 Bathroom Unit 
  • 6 Sales Last 6 Months
  • Median Sales Price $352,500
    – 2 Bedroom 2 Bathroom Unit
  • Sales Price to Sq Ft Price $326.00
  • Sales to List Price 96%
  • Days on Market 61 Days
Beach views Galt Ocean Mile condo for sale Ocean Summit
Beach views Galt Ocean Mile condo for sale Ocean Summit

Ocean Summit
Condos for Sale

The market analysis report for the 5 x Ocean Summit condos for sale Fort Lauderdale is presented below – This up from 3 condos for sale as in our post for August / September 2017!

Our market analysis report for these 5 units is presented below.

BEDS / BATHS LA LP$
Min 1 / 1 940 $250,000
Max 2 / 2 1290 $489,000
Avg 2 / 2 1142 $388,000
Median 2 / 2 1190 $395,000

We can see from this report that the median price for Fort Lauderdale condo for sale in Ocean Summit $395,000 – this being for a 2 bedroom 2 bathroom unit.

In our last post the median price for a condo for sale was lower at $381,500 – 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 $250,000 $266.00
2 / 2 1190 $410,000 $357.00

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

  • 1 Bedroom Ocean Summit condos for sale  is $250,000 – this being for a 1 bedroom 1 bathroom unit of 940 square feet with a list price to square foot price of $266.00 – In our earlier post when 1 bedroom units were offered for sale the median price for 1 Bedroom units was higher at $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
  • 2 Bedroom Ocean Summit condos for sale is $410,000 – this being for a 2 bedroom 2 bathroom unit of 1190 square feet with a list price to square foot price of $357.00 – Note in our last post the median price for 2 Bedroom units was lower at $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
  • Currently there are no 3 Bedroom Ocean Summit condos for sale is  – However in our last 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

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Kevin Wirth – Realtor
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Search Galt Ocean Mile Condos 
View Galt Ocean Mile New Listings

View Ocean Summit condo just listed for sale Galt Ocean Mile Fort Lauderdale
View Ocean Summit condo just listed for sale Galt Ocean Mile Fort Lauderdale – Unit 514

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 no new listings!

Our market analysis report for this unit is presented below

CONDO BEDS / BATHS LA LP$
Unit 514 2 / 2 1290 $395,000

We can see from this report that a 2 bedroom Ocean Summit condo – Unit 514 has just been listed for sale for $395,000this 2 bedroom 2 bathroom 1290 square foot unit has a list price to square foot price of $306.00

This Galt Ocean Mile condo has been meticulously cared for and features an open kitchen with newer cabinets.

The unit has impact windows and an impact balcony door.  You will love the ocean view from large balcony.

Unit 514 is offered for sale totally furnished!

View condo unit 1614 pending sale Ocean Summit Galt Ocean Mile
View condo unit 1614 pending sale Ocean Summit Galt Ocean Mile

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 – all 2 bedroom condos!

In our last post for August / September 2017 there were 3 units pending sale – all 2 bedroom units!

Our market analysis report for the 2 units pending sale is presented below:

CONDO BEDS / BATHS LA LP$
Unit 614 2 / 2 1200 $337,900
Unit 412 2 / 2 1190 $325,000
Median 2 / 2 1195 $331,450

We can see from this report that the median price of a Galt Ocean Mile condo pending sale here in Ocean Summit is $331,450.

In our last post when there were 3 x 2 bedroom condos pending sale the median price was higher at $337,900!

We can see from this summary report that:

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.

Note: Both these units were also pending sale in our last post!

View Galt Ocean Mile condo recently sold Ocean Summit
View Galt Ocean Mile condo recently sold Ocean Summit

Ocean Summit
Sales Last 6 Months

There have been 6 x Fort Lauderdale oceanfront condos sold in Ocean Summit over the last 6 months – down from our last post!

In our last post for August / September 2017 there had been 7 Ocean Summit condos sold over the preceding 6 months!

The market analysis report for these 6 sales is presented below.

BEDS / BATHS LA SP$
Min 1 / 1 940 $230,000
Max 3 / 2 1520 $495,000
Avg 2 / 2 1208 $360,583
Median 2 / 2 1190 $352,500

We can see from this report that the average sales price for a condo sold in Ocean Summit has been $360,583 – this being for a 2 bedroom 2 bathroom unit of 1208 square feet.

We can also see that that median price for a condo sold in Ocean Summit has been $352,500 – this being for a 2 bedroom 2 bathroom unit of 1190 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 $260,000 $245.00
2 / 2 1190 $415,000 $349.00
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 $260,000 – this being for a 1 bedroom 1 bathroom 940 square foot unit with a sales price to square foot price of $245.00 – In our last post the median for 1 Bedroom Ocean Summit condos sold was over $17,000 lower at $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
  • 2 Bedroom Ocean Summit condos sold has been $415,000 – this being for a 2 bedroom 2 bathroom unit of 1190 square feet with a sales price to square foot price of $349.00.  In our last post the median price for 2 bedroom units sold was over $65,000 lower at $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.
  • 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 $305.00
Median $326.00

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 $326.00 per square foot – well up from our last post!

It is important to note that in our last post the median price paid per square foot for a condo in this complex over the preceding 6 months was much lower at $276.00 per square foot!

Also important to note is the highest square foot price paid at $349.00!

% 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$/LP$
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%

It is important to note that the median sales price to list price at 96% is the same as in our last 2 posts!

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 184
Avg 86
Median 61

We can see from this report that the median days on market for Fort Lauderdale condos for sale here in Ocean Summit have been 61 days – or just over 2 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 LA SP$
Unit 1503 3 / 2 1520 $495,000
Unit 1706 2 / 2 1290 $465,000
Unit 305 2 / 2 1290 $450,000
Unit 907 1 / 1 870 $290,000
Unit 202 2 / 2 1100 $283,500
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.

Sales activity continues to be strong and median sales prices for both 1 and 2 bedroom units are up – reflecting 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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