Ocean views from one of the Plaza South condos for sale Fort Lauderdale

Plaza South Condos

Plaza South Condos
Fort Lauderdale

Welcome to our August / September 2016 post on Plaza South condos for sale.

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Fort Lauderdale condos for sale in Plaza South are set right on the beach here on Galt Ocean Mile – the complex has 336 condo units.

Currently there are 5 condos for sale here in Plaza South.

There have been 13 sales of condos here in the last 6 months and 1 unit is 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 units over the last 6 months!

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

Key Statistics for Buyers / Sellers
  • Units for Sale $495,000 – $1,350,000
  • Median list price $499,000
    – 2 Bedroom 2 Bathroom Unit

Median Sales Prices

  • Sales Price last 6 Months $440,000
     – 2 Bedroom 2 Bathroom Unit
  • Sales to List Price 98%
  • Days on Market 107 Days
View from a 2 bedroom Galt Ocean Mile condo for sale here in Plaza South
View from a 2 bedroom Galt Ocean Mile condo for sale here in Plaza South

Plaza South
Condos for Sale

There are currently 5 x Fort Lauderdale condos for sale here in Plaza South –  this is well down from 9 Plaza South condos for sale as in our last post for May / June 2016!

 $$ Beds/Baths SF/FF List Price
High 5 / 4 4,050 $1,350,000
Low 2 / 2 1,450 $495,000
Avg 3 / 2 2,160 $798,600
Med 2 / 2 1,450 $499,000

 

We can see from our report that the median price for a condo for sale here in Plaza South is $499,000this being for a 2 bedroom 2 bathroom unit of 1450 square feet.

It is important to note that while the median price has stayed the same the median square footage of Plaza South condos for sale has decreased from 1650 to 1550 and now to 1450 square feet.

  • In our last post the median price for a condo for sale in Plaza South was $499,900 – this being for a 2 bedroom 2 bathroom unit of 1550 square feet.
  • In our prior post the median price for a condo for sale in Plaza South was $499,900 – this being for a 2 bedroom 2 bathroom unit of 1650 square feet.

Note the highest priced unit for sale at $1,350,000 this being for a “rare” 5 bedroom condo and the lowest price unit  for sale at $459,000 for a 2 bedroom condo.

At the time of writing there were no 1 bedroom units for sale.

Intracoastal views from a Fort Lauderdale condo for sale here in Plaza South
Intracoastal views from a Fort Lauderdale condo for sale here in Plaza South

Plaza South
Prices by Bedroom

Here is our market summary report showing the median prices for condos currently for sale here in Plaza South by Bedroom.

Beds/Baths SF/FF List Price LP$/SqFt
2 / 2 1,450 $499,000 $344
3 / 2 2,400 $1,150,000 $479
5 / 4 4,050 $1,350,000 $333

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

  • 2 bedroom Plaza South condos for sale is $499,000this being for a 2 bedroom 2 bathroom unit of 1450 square feet with a list price to square foot price of $344.00 – In our last post the median for 2 bedroom units was lower at $474,500 – this being for a 2 bedroom 2 bathroom unit of 1450 square feet with a list price to square foot price of $315.00
  • 3 bedroom Plaza South condos for sale is $1,150,000 – this being for a 3 bedroom 2 bathroom unit of 2400 square feet with a list price to square foot price of $479.00 – In our last post the median for the 1 x 3 bedroom unit for sale was lower at $1,024,000 – this being for a 3 bedroom 2 bathroom unit of 2500 square feet with a list price to square foot price of $412.00
  • 1 x 5 bedroom Plaza South condos for sale is $1,350,000 this being for a 5 bedroom 4 bathroom unit of 4050 square feet with a list price to square foot price of $3333.00 – this unit has lowered their price from $1,450,000 as in our last post!

Plaza South
New Listings

There have been no new listings for Galt Ocean Mile condos for sale here in Plaza South over the last 30 days – this is the same as in our last post.

Kevin Wirth Fort Lauderdale Realtor

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

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View from a condo pending sale here in Plaza South Fort Lauderdale
View from a condo pending sale here in Plaza South Fort Lauderdale

Plaza South Condos
Pending Sales

There is currently 1 unit pending sale here in Plaza South – in our last post there were 3 units pending sale!

The market analysis report for these units is presented below.

Beds/Baths SF/FF List Price LP$/SqFt
2 / 2 1,650 $485,000 $294


We can see from this report that a 2 bedroom condo listed for $485,000 is now pending sale –
this being for a 2 bedroom 2 bathroom 1650 square foot unit with a list price to square foot price of $294.00.

This unit – Plaza South Condo Unit 21 L, offers amazing ocean, beach, city, pool, and garden deck views.

This higher floor “l” line unit offers direct ocean and city views to the southeast, and ocean and city views from the bedrooms to the north east and west.

This unit features: an all white kitchen, extensive high quality, painted white mill work, custom solid bi-fold closet doors, crown moldings, and door frames.  There are Parquet wood floors, Stainless Steel appliances and 2 parking spaces.

In our last post the median price for one of the 3 x Plaza South condos pending sale was $429,000 – this being for a 2 bedroom 2 bathroom 1650 square foot unit with a list price to square foot price of $296.00.

View of Plaza South condominium here on Galt Ocean Mile in Fort Lauderdale
View of Plaza South condominium here on Galt Ocean Mile in Fort Lauderdale

Plaza South Sales
Last 6 Months

There has been 13 sales of Fort Lauderdale condos here in Plaza South in the last 6 months – this is up from 10 units sold over the preceding 6 months as per our last post!

The market analysis report for these units is presented below.

$$  Beds/Baths SF/FF Sale Price
High 2 / 2 1,650 $582,000
Low 1 / 1 1,450 $330,000
Average 2 / 2 1,542 $443,923
Median 2 / 2 1,450 $440,000


We can see from this report that the average price for a unit sold over the last 6 months has been $443,923 and the median has been $440,000

It is important to note the softening of BOTH average and median prices here in Plaza South over recent months.

Note the median is down from $502,500 to $440,000 this month a drop of over $60,000!

  • In our last report for the average price for a unit sold was $495,250 and the median has been $472,500
  • In our prior report for the average price for a unit sold was $567,500 and the median was $502,500

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

View from a 2 bedroom Plaza South condo recently sold
Garden and Ocean views from this 2 bedroom condo recently sold here in Plaza South

Plaza South Sales
Prices by Bedroom

Here is our market summary report showing the median sales prices for condos sold here in Plaza South over the last 6 months by Bedroom.

Beds/Baths SF/FF Sale Price SP$/SqFt
1 / 1 1,450 $375,000 $259
2 / 2 1,650 $472,500 $292

 

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

  • 1 bedroom units has been $375,000this being for a 1 bedroom 1 bathroom unit of 1450 square feet with a sales price to square foot price of $259.00 – In our last post the median sales price for 1 bedroom units was lower at $362,500 – this being for a 1 bedroom 1 bathroom unit of 1450 square feet with a sales price to square foot price of $250.00
  • 2 bedroom units has been $472,500this being for a 2 bedroom 2 bathroom unit of 1650 square feet with a sales price to square foot price of $292.00 – In our last post the median sales price was higher at $480,000 – this being for a 2 bedroom 2 bathroom unit of 1650 square feet with a sales price to square foot price of $294.00!

Square Foot Prices
Condos Sold

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

$$  SP$/SqFt
High $353
Low $228
Avg $287
Med $291


We can see from this report that the median sales price to square foot price paid for a Plaza South condo sold over the last 6 months has been $291.00 per square foot.

This is down ever so slightly from our last post when it was $292.00!

However it is important to note that this was down from our prior post when the median sales price to square foot price was $303.00 per sq ft!

% 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 South – 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 95%
Med 98%


We can see from this report that the median sales price to list price paid over the last 6 months has been 98% this is well up from 92% in our last post!

This means if a Fort Lauderdale condo for sale here in Plaza South is listed at $500,000 – then based on median sales data the condo could be expected to sell for 98% of that amount or $490,000.

Days on Market

Days on market for Condos for Sale in Plaza South 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 124
Med 107


We can see from this report that median days on market for a Fort Lauderdale condo for Sale in Plaza South is 107 days up from 83 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 South is a great complex here on Galt Ocean Mile.

 

It is great to see a strong level of sales activity in the complex – with 13 recent sales.

In my mind the recent softening of median prices has stimulated strong interest in Plaza South condos for sale as well as good sales activity.

However it is important to note that with a median sales price to list price of 98% that sellers are not discounting much of reduced list prices.

I hope you have enjoyed reading my post on Plaza South and Plaza South condos for sale – by Kevin Wirth Realtor