Lovely ocean and beach views from a Fort Lauderdale condo for sale here in Ocean Summit

Ocean Summit Condos

Ocean Summit Condos
Fort Lauderdale

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Fort Lauderdale condos for sale here in Ocean Summit offer direct oceanfront units set right on the Galt Ocean Mile Beachfront.

Currently there are just 3 condos for sale – one of which is a new listing.

2 units are currently under contract and are pending sale and there have been 2 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 to 2014 sales. Important information for both buyers and sellers!

Key Statistics for Buyers / Sellers

  • Condos for Sale
    Prices from $275,000 – $390,000

Median Prices

  • Median List Price $299,900
     – 1 Bedroom 1 Bathroom Unit 
  • 2 Sales Last 6 Months – all 2 Bedroom Units
  • Median Sales Price $409,000
  • Sales to List Price 95%
  • Days on Market 116 Days
View from a direct oceanfront Fort Lauderdale condo for sale here in Ocean Summit
View from a direct oceanfront condo for sale here in Ocean Summit

Ocean Summit
Condos for Sale

The market analysis report for the 3 x Ocean Summit condos for sale is presented below – which is well down from the 7 units as per our last post on Ocean Summit condos for sale for March / April 

 $$ Beds/Baths SF/FF List Price
High 2 / 2 940 $390,000
Low 1 / 1 940 $275,000
Med 1 / 1 940 $299,900

 

We can see from this report that the median price for Fort Lauderdale condo for sale in Ocean Summit  $299,900  – which is the same as in our last report.

We can also see that the lowest price unit is offered for sale for $275,000 and the most expensive unit is offered for sale here $390,000.

Kevin Wirth Fort Lauderdale Realtor

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Kevin Wirth – Realtor
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Ocean Summit
New Listings

There has been 1 new listing here in Ocean Summit Fort Lauderdale in the last 30 days.

The market analysis report for this unit is presented below

Beds/Baths SF/FF List Price LP$/SqFt
1 / 1 940 $275,000 $293

 

We can see from this report that a 1 bedroom 1 bathroom unit has just been listed for sale – this condo, unit 716 is offered for sale for $275,000 – this is the lowest priced condo for sale in this complex.

The condo is a well maintained unit with laminated wood floors throughout and hurricane impact windows.

You will love the beautiful ocean / beach views from the balcony.

View of Ocean Summit here on Galt Ocean Mile
View of Ocean Summit here on 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 is currently 2 condos pending sale here on Ocean Summit.

The market analysis report for these units is presented below

Beds/Baths SF/FF List Price LP$/SqFt
2 / 2 1,190 $349,900 $294
1 / 1 0 $279,900 $0

 

We can see from this report that:

  • A 2 bedroom 2 bathroom condo – unit 312 is pending sale.  Unit 312 was offered for sale for $347,000  – this 1100 square foot condo had a list price to square foot price of $294.00This condo is a fabulous corner unit here on Galt Ocean Mile with ocean view s.  The unit is immaculate and updated with neutral tile flooring in living areas and plush higher quality carpet in bedrooms.There is a Washer / Dryer in the unit
  • A 1 bedroom 1 bathroom condo – unit 615 is pending sale.  Unit 615 was offered for sale for $279,900This condo is a great one bedroom condo directly on the sand with washer and dryer in the unit.The unit has been freshly painted and has brand new neutral porcelain tile floors and an updated kitchen and bathroom!You will love the great ocean view from the balcony!
View of pool from Ocean Summit here on Galt Ocean Mile
View of pool from Ocean Summit here on Galt Ocean Mile

Ocean Summit
Sales Last 6 Months

There have been just 2 x Fort Lauderdale condos sold in Ocean Summit over the last 6 months.

The market analysis report for these sales is presented below.

$$  Beds/Baths SF/FF Sale Price
High 2 / 2 1,190 $418,000
Low 2 / 2 1,100 $400,000
Med 2/ 2 1,145 $409,000

 

We can see from this report that the median price for a condo sold in Ocean Summit has been $409,000 – which is down from our last 2 reports 

In our last report for March / April the median price for a condo sold in Ocean Summit was $420,000 

Both the average and median prices in this and our last 2 reports are based on 2 bedroom 2 bathroom condos 

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 $364
Low $351
Med $357

 

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 $357.00 – which is down from $362.00 as per our last post!

Important to note is the highest price paid at $364.00

% 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$/LP$
High 98%
Low 91%
Med 95%

 

We can see from this report that the median sales price to list price for condos sold here in Ocean Summit  has been 95%

This means if a Fort Lauderdale Condo for sale here in Ocean Summit is listed at $450,000 – then based on median sales data the Condo would sell for 95% of that amount or $427,500.

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
High 217
Low 16
Med 116

 

We can see from this report that the median days on market for Fort Lauderdale condos for sale here in Ocean Summit has been 116 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

Median sales prices over the last 6 months for condos here in Ocean Summit have been on the rise 

The median sales price summary report for all sales in 2014 presented below shows us that the median sales price to square foot price for all sales in 2014 was $261.00 

Beds/Baths SP$/SqFt
2 / 2 $261

 

Despite a small decline this month from $362.00 to $357.00…

Median sales price to square foot prices for the last 6 months are up by $96.00 or 36% – which is impressive!

With limited inventory of condos for sale in this complex I foresee median prices continuing to increase throughout 2015.

 

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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