Ocean views Fort Lauderdale condo for sale in Plaza East

Plaza East Condos

Plaza East Condos
Fort Lauderdale

Welcome to our August / September 2016 post on Plaza East condos for sale Fort Lauderdale.

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Fort Lauderdale condos for sale here in Plaza East are “direct” oceanfront units set right on the beach.  

The complex has 266 condos set right on the sand/beachfront here in Galt Ocean Mile.  The complex itself is actually located on Ocean Blvd and sits at the very North End of all of the Galt Ocean Mile Condominiums.

There are currently 6 condos for sale in this complex – 1 of which is a new listing.

There are 2 units pending sale and there have been 13 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 units over the last 6 months!

We also compare recent sales trends in Plaza East – Important information for both buyers and sellers!

Key Statistics for Buyers / Sellers
  • Prices from $450,000 – $764,900
  • Median List Price $624,700
    – 2 Bedroom 2 Bathroom Unit


Median Sales Prices

  • Sales Price last 6 Months $437,500
    – 2 Bedroom 2 Bathroom Unit
  • Median Sales to List Price 93%
  • Days on Market 102 Days
View of Plaza East Condominium Galt Ocean Mile
View of Plaza East Condominium Galt Ocean Mile

Plaza East
Condos for Sale

Here is the market analysis report for the 6 x Fort Lauderdale condos for sale here in Plaza East

In our last post on Plaza East condos for sale there were 7 units for sale.

 $$ Beds/Baths SF/FF List Price
High 3 / 2 2,030 $764,900
Low 2 / 2 1,650 $450,000
Avg 2 / 2 1,840 $595,700
Med 2 / 2 1,840 $624,700

 

We can see from this report that the median price of a Galt Ocean Mile condo for sale here in Plaza East is $624,700.

  • In our last post the he median price of a Galt Ocean Mile condo for sale here in Plaza East was $665,000
  • In our prior post the he median price of a Galt Ocean Mile condo for sale here in Plaza East was $520,000.

The median price in this and our last 2 posts was based on 2 bedroom 2 bathroom unit.

It is important to note the median list price to sq ft price at $342.00 – which is down from $356.00 in our last post and from $344.00 in our prior post!

Pool views from one of the Plaza East condos for sale Fort Lauderdale
Pool views from one of the Plaza East condos for sale Fort Lauderdale

Plaza East Condos
Prices by Bedroom

Here is the market analysis report for Plaza East condos for sale showing median prices by Bedroom

Beds/Baths SF/FF List Price LP$/SqFt
2 / 2 1,650 $524,750 $327
3 / 2 2,030 $707,400 $348

 

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

  • 2 Bedroom condo units for sale is $524,750 – this being based on a 2 bedroom 2 bathroom unit of 1650 square feet with a list price to square foot price of $327.00 – In our last post the median for 2 Bedroom condo units for sale was over $125,000 higher at $650,000 – this being based on a 2 bedroom 2 bathroom unit of 1650 square feet with a list price to square foot price of $356.00
  • 3 Bedroom condo unit for sale is $707,400 – this being based on a 3 bedroom 2 bathroom unit of 2030 square feet with a list price to square foot price of $348.00 – In our last post the median for 3 bedroom condos was almost $30,000 higher at $737,000 – this being based on a 3 bedroom 2.5 bathroom unit of 2030 square feet with a list price to square foot price of $363.00

It is important to note that median prices for both 2 and 3 bedroom direct oceanfront Galt Ocean Mile condos for sale are down from prior posts!

View condo just listed for sale in Plaza East here on Galt Ocean Mile
View condo just listed for sale in Plaza East here on Galt Ocean Mile

Plaza East Condos
New Listings

There has been 1 new listing of a condo for sale here in Plaza East on Galt Ocean Mile / Fort Lauderdale over the last 30 days – this is up from no new listings as per our last post!

Our Market Analysis report for this new listing is presented below

Beds/Baths SF/FF List Price LP$/SqFt
2 / 2 1,550 $450,000 $290

 

We can see from this report that a 2 bedroom condo (unit 11 K) has just been listed for sale for $450,000this 2 bedroom 2 bathroom 1550 square foot unit has a list price to square foot price of $290.00

This high floor South Easy ocean front condo has a huge balcony directly on the beach.

The unit offers stunning ocean and wide city views.

This condo features: floor to ceiling windows throughout, a washer/dryer and a a semi private elevator whisks you from the garage to your door.

Kevin Wirth Fort Lauderdale Realtor

Buying / Selling?
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Kevin Wirth – Realtor
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Search Galt Ocean Mile Condos for Sale

View Galt Ocean Mile New Listings

 

View of a rennovated 2 bedroom condo pending sale here in Plaza East
View of a rennovated 2 bedroom condo pending sale here in Plaza East – Unit 3 G!

Plaza East Condos
Pending Sales

There is currently 2 condos under contact and pending sale here in Plaza East – this is down a little from the 3 units pending sale as in our last post!

Our market summary report for these units is presented below.

Condo  Beds/Baths SF/FF List Price
Unit 3G 2 / 2 1,870 $665,000
Unit 3K 2 / 2 1,600 $449,000
Median 2 / 2 1,735 $557,000


We can see from this report that:

  • Unit 3G a 2 bedroom unit listed for sale for $665,000 is now pending salethis 2 bedroom 2 bathroom 1870 square foot unit has a list price to square foot price of $356.00.  This Galt Ocean Mile condos offers gorgeous ocean views.  The unit is ALL NEW with absolutely beautiful finishes and a  fantastic open kitchen, large living room and separate dining room. You will love the gorgeous porcelain floors throughout. This condo has “Super Sheik” bathroom finishes in both bathrooms as well as huge master bedroom with access to beach side balcony.  
  • Unit 3K also a 2 bedroom unit, listed for sale for $449,000 is now pending sale this 2 bedroom 2 bathroom 1600 square foot unit has a list price to square foot price of $310.00.  This Galt Ocean Mile condo offers a South East ocean view from its large balcony and  the living room and kitchen.  There are Northeast ocean views from bedrooms.   The units is updated and move in ready and features polished porcelain tile flooring, floor to ceiling windows and a beautiful kitchen with Granite counters, stainless steel appliances and Jenn-Air Grill Stove.
Views from this oceanfront condo recently sold here in Plaza East in Fort Lauderdale
Views from this oceanfront condo recently sold here in Plaza East in Fort Lauderdale

Plaza East Condos
Recent Sales – Last 6 Months

There have been 13 recent sales of condos here in Plaza East over the last 6 months

It is important to note this is up from 10 sales in our last post and 5 sales in our prior post!

The market analysis report for these sales is presented below.

 $$ Beds/Baths SF/FF Sale Price
High 3 / 2 1,650 $975,000
Low 1 / 1 1,320 $300,000
Avg 2 / 2 1,486 $494,952
Med 2 / 2 1,450 $437,500


We can see from this report that the average sales price has been $494,952 and the median sales price has been $437,500.

It is important to note that both the average and median sales price for Plaza East condos are down from our last 2 posts!

  • In our last post for Plaza East condos for sale the average sales price was $512,438 and the median sales price has been $455,000.
  • In our last post for Plaza East condos for sale the average sales price was $535,500 and the median sales price was $475,500.

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

Plaza East Condos
Sales Prices by Bedroom

Here is the market analysis report for Plaza East condos sold over the last 6 months showing median prices by Bedroom

Beds/Baths SF/FF Sale Price SP$/SqFt
1 / 1 1,385 $332,000 $250
2 / 2 1,525 $495,000 $320
3 / 2 2,463 $847,500 $345

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

  • 1 Bedroom condo units sold is $332,000 – this being based on a 1 bedroom 1 bathroom unit of 1385 square feet with a sales price to square foot price of $250.00.  In our last post the median price for 1 Bedroom condo units sold was over $20,000 higher at $354,875 – this being based on a 1 bedroom 1 bathroom unit of 1450 square feet with a sales price to square foot price of $269.00
  • 2 Bedroom condo units sold is $495,000 – this being based on a 2 bedroom 2 bathroom unit of 1525 square feet with a sales price to square foot price of $320.00.  In our last post the median price for 2 Bedroom condo units sold was the same at $495,000 – this being based on a slightly larger 2 bedroom 2 bathroom unit of 1625 square feet with a sales price to square foot price of $320.00
  • 3 Bedroom condo units sold is $847,500this being based on a 3 bedroom 2.5 bathroom unit of 2463 square feet with a list price to square foot price of $345.00.  In our last post the sales price for the 1 x 3 Bedroom Penthouse Unit sold was over $125,000 higher at $975,000 – this being based on a 3 bedroom 2.5 bathroom unit of 2500 square feet with a list price to square foot price of $390.00

Square Foot Prices
Condos Sold

Here is our market summary report showing square foot prices paid for Fort Lauderdale Condos sold in Plaza East over the last 6 months.

 $$ SP$/SqFt
High $390
Low $200
Avg $294
Med $283


We can see from this report that the median sales price to square foot price paid for a Plaza East condo sold over the last 6 months has been $283.00 per square foot

It is important to note that this is down from $299.00 in our last post which in turn was down from $313.00 in our prior post and $322.00 in our earlier post!

Also Important to note is the highest price paid at $390.00

% 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 Plaza East – 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 90%
Med 93%


We can see from this report that the median sales price to list price for Fort Lauderdale condo here in Plaza East  has been 93%

Again it is very important to note that a median of 93% has been the same in our last 6 posts!

This means if a Fort Lauderdale condo for sale here in Plaza East is listed at $500,000 – then based on median sales data the condo could be expected to sell for 93% of that amount or $465,000 – based on MLS Data!

Days on Market

Days on market for Condos for Sale in Plaza East 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 136
Med 102

We can see from this report that the average days on market for a Fort Lauderdale condo for Sale in Plaza East has been 136 days

More importantly is the median days on market at 102 days –  down from 102 days 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

Plaza East is a great direct oceanfront condominium here on the famous Galt Ocean Mile.

We have seen a strong level of sales over the last 6 months – now with 13 units being sold.  Some of these units have been well renovated – others in complete need of updating.

Important to note however is the softening in median sales prices – a reflection I think of sellers wanting to move on, especially sellers of older more dated units.

If your looking for a great oceanfront complex to call “home” then I highly recommend looking at Plaza East Condos for sale.

I hope you have enjoyed reading my post on Fort Lauderdale condos for sale here in Plaza East  – Kevin Wirth Realtor