View from one of the Playa del Mar condos for sale here in Fort Lauderdale

Playa Del Mar Condos

Playa Del Mar
Fort Lauderdale

Welcome to our February / March Blog on Playa Del Mar condos for sale here on Galt Ocean Mile in Fort Lauderdale

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At the time of writing this Blog there are 13 x Fort Lauderdale condos for sale here at Playa Del Mar on Galt Ocean Mile – 3 of these are new listings.

There are 2 unit pending sale – both 1 bedroom units.

There have been 5 condos sold here 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 units over the last 6 months!

We also compare recent sales trends in Playa del Mar – Important information for both buyers and sellers!

Key Statistics for Buyers / Sellers
  • Prices from $294,900 – $947,777
  • Median List Price $550,000
    – 2 Bedroom 2 Bathroom Unit

Median Sales Last 6 Months

  • Sales Price $430,000
    – 2 Bedroom 2 Bathroom Unit
  • Sales to List Price 92%
  • Days on Market 79 Days
Ocean views from a Playa del Mar condo for sale here on Galt Ocean Mile
Ocean views from a Playa del Mar condo for sale here on Galt Ocean Mile

Playa Del Mar
Condos for Sale

The market analysis report for the 13 x Fort Lauderdale condos for sale here in Playa Del Mar is presented below.

$$  Beds/Baths SF/FF List Price
High 3 / 2 2,124 $947,777
Low 1 / 1 1,088 $274,900
Avg 2 / 2 1,453 $521,391
Med 2 / 2 1,435 $550,000


This report shows us that the median price for a condo for sale here in Playa Del Mar is $550,000 –
this being for a 2 bedroom 2 bathroom unit of 1435 square feet with a list price to square foot price of $375.00

  • In our last post on Playa del Mar Condos for Sale – December / January 2016 the median price for a condo for sale was $414,450 
  • In our earlier post on Playa del Mar Condos for Sale – November / December the median price for a condo for sale was $414,450 
  • In our prior post on Playa del Mar Condos for Sale – September / October the median price for a condo for sale was $424,500 

It is important to note how median prices for Playa del Mar condos for sale are well up – up by $125,500 or by just under 30% since our post for Sept / Oct 2015.

Playa del Mar Condos
Prices by Bedroom

Here are the median prices by bedroom for all the Playa del Mar condos currently for sale.

Beds/Baths SF/FF List Price LP$/SqFt
1 / 1 1,209 $308,750 $247
2 / 2 1,549 $644,000 $398
3 / 2 2,124 $947,777 $446

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

  • 1 Bedroom units for sale is $308,750 – this being for a unit of 1209 square feet with a list price to square foot price of $247.00 – In our last post the median price for 1 Bedroom unit  was higher at $319,000 – this being for a unit of 1148 square feet with a list price to square foot price of $270.00
  • 2 Bedroom units is $644,000 – this being for a unit of 1549 square feet with a list price to square foot price of $398.00 – In our last post the median for 2 Bedroom units was higher at $655,000 – this being for a unit of 1442 square feet with a list price to square foot price of $411.00
  • 3 Bedroom unit is $947,777 this being for a unit of 2124 square feet with a list price to square foot price of $446.00 – this is the same as in our last post!
Superb oceanfront views from a Playa del Mar condo just listed for sale
Superb oceanfront views from a Playa del Mar condo just listed for sale

Playa Del Mar Condos
New Listings

There have been 3 new listings of condos for sale here in Playa Del Mar in the last 30 days – down from 4 new listings as per our last post!

Our market analysis report for these condos is presented below.

 $$ Beds/Baths SF/FF List Price LP$/SqFt
High 2 / 2 1,771 $680,000 $412
Low 1 / 1 1,088 $285,000 $236
Avg 2 / 2 1,430 $494,600 $337
Med 2 / 2 1,435 $550,000 $361

 

We can see from this report that there have been both 1 and 2 bedroom units listed for sale over the last 30 days.

We can also see that the median list price is $550,000 – this being for a 2 bedroom 2 bathroom unit of 1435 square feet with a list price to square foot price of $361.00

Note square foot list prices range from a low of $236.00 per square foot to a high of $412.00 per square foot!

Kevin Wirth Fort Lauderdale Realtor

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

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Views from a Playa del Mar 1 bedroom condo pending sale
Views from a Playa del Mar 1 bedroom condo pending sale

Playa Del Mar Condos
Pending Sales

There is currently 2 condos in Playa Del Mar that are under contract and are pending sale.  

In our last post there was just 1 unit pending sale!

Our market analysis report for this unit is presented below

Condo  Beds/Baths SF/FF List Price
Unit2904 1 / 1 1,088 $375,000
Unit 514 1 / 1 1,088 $319,000
Average 1 / 1 1,088 $347,000
Median 1 / 1 1,088 $347,000

 

We can see from this report the details for both 1 bedroom units pending sale as well as the median price.

The median price for a unit currently pending sale here in Playa del Mar is $347,000 this being for a 1 bedroom 1 bathroom 1088 square foot unit with a list price to square foot price of $319.00

Pending Sales Notes

Here are our notes on both these units pending sale:

  • Condo Unit 2904 a 1 bedroom unit listed for sale for $375,000 is now pending salethis 1 bedroom 1 bathroom 1088 square foot unit has  a list price to square foot price of $345.00.  This condo is a top floor apartment facing south side of building. You will love the panoramic views from your glass balcony,looking at the Atlantic ocean and the skyline of the city of Fort Lauderdale. Apartment is nicely appointed through out with lots of up grades.
  • Condo Unit 514 also a 1 bedroom unit, this unit was  listed for sale for $319,000 and is now pending sale this 1 bedroom 1 bathroom 1088 square foot unit has a list price to square foot price of $293.00.  This condo offers ocean views from all rooms! This unit is a large condo with a marble look tile floors and a large master bathroom and half bath.   Features include: a Master walk-in closet and other closets, a washer/dryer in condo and a garage space.
Pool views here at Playa del Mar on Galt Ocean Mile
Pool views here at Playa del Mar on Galt Ocean Mile

Playa Del Mar
Sales Last 6 Months

There have been 5 condo units sold in Playa del Mar over the last 6 months – this is down from 8 condos as per our last post!

Here is our market analysis report of Galt Ocean Mile condo sales over in Playa Del Mar as at time of writing.

 $$ Beds/Baths SF/FF Sale Price
High 3 / 2 2,124 $800,000
Low 2 / 2 1,435 $390,000
Avg 2 / 2 1,673 $498,000
Med 2 / 2 1,567 $430,000


We can see from this report that the median price paid for a unit here in Playa Del Mar has been $430,000  –
this being for a 2 bedroom 2 bathroom unit!

Important to note is how median prices are slowly on the rise – with prices up by $40,000 since our post for April  / May!

  • In our last post for December / January the median price paid for a unit here in Playa Del Mar for the preceding six months was also $430,000 – this being for a 2 bedroom 2 bathroom unit!
  • In our prior post for November / December 2015 the median price paid for a unit here in Playa Del Mar for the preceding six months was $425,000 – this being for a 2 bedroom 2 bathroom unit!
  • In our earlier post in April / May 2015 the median price paid for a unit here in Playa Del Mar for the preceding six months was $390,000 – this also being for a 2 bedroom 2 bathroom unit!

Playa del Mar Condos
Median Sales Prices

Here are the median sales prices by bedroom for all the Playa del Mar condos sold over the last 6 months.

Beds/Baths SF/FF Sale Price SP$/SqFt
2 / 2 1,435 $425,000 $272
3 / 2 2,124 $800,000 $377

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

  • 2 Bedroom units sold has been $425,000 – this being for a unit of 1435 square feet with a sales price to square foot price of $272.00
  • 3 Bedroom units sold has been $800,000 this being for a unit of 2124 square feet with a sales price to square foot price of $377.00

Square Foot Prices
Condos Sold

Here is our market summary report showing square foot prices paid for ALL of the Fort Lauderdale Condos sold in Playa del Mar over the last 6 months.

 $$ SP$/SqFt
High $377
Low $253
Avg $304
Med $293


We can see from this report that the median sales price to square foot price paid for a Playa del Mar condo sold over the last 6 months has been $293.00 per square foot – this is up from $279.00  in our last post!

Important to note is the highest price paid at $377.00

% Sales to List Price

An important real estate indicators that is important to note is how much  buyers are paying for Fort Lauderdale Condos for sale here in Playa del Mar – 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 70%
Med 92%


We can see from this report that the median sales price to list price for Fort Lauderdale condo here in Playa del Mar has been 92% – this is down from 94% in our last 4 posts!

This means if a Fort Lauderdale condo for sale here in Playa del Mar is listed at $450,000 – then based on median sales data the condo would sell for 92% of that amount or $414,000.

Note the lower average price reflects sales of “dated” units in original condition and/or less desirable stacks.

Days on Market

Days on market for Condos for Sale in Playa del Mar is an important indicator on how strong demand is for Fort Lauderdale condos for sale in this complex..

Here is the market analysis report for Days on Market based on condo sales over the last 6 months.

 $$ Days on Market
Avg 97
Med 79

We can see from this report that the average days on market for a Fort Lauderdale condo for Sale in Playa del Mar is 967 days

More importantly is the median days on market at 79 days – 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.

Kevin Wirth Realtor outside Galt Ocean Mile condominiums

My Thoughts / Summary

I love Playa del Mar – its a great complex.

 

Currently there is a very good range of condos for sale – in fact inventory levels are higher than usual.

A contributing factor to this higher inventory is in my mid the higher median price for Playa del Mar condos for sale – which is up by almost 30% in just 6 months.

Our condo market here in Fort Lauderdale and especially when it comes to Galt Ocean Mile condos for sale can take time to absorb strong price increases – especially given the median sales price of $430,000 – approx $120,000 lower than the median price of condos for sale at $550,000!!

I am confident however that prices will continue there upward path in 2016 – although I think it may be at a slower rate and until inventory levels are reduced.

I hope you have enjoyed this post on Playa Del Mar Fort Lauderdale Condos for Sale – Kevin Wirth Realtor