View from one of the Plaza South condos for sale Fort Lauderdale

Plaza South Condos

Plaza South Condos
Fort Lauderdale

Welcome to our October / November 2016 post on Plaza South condos for sale Fort Lauderdale.

Fort Lauderdale condos for sale in Plaza South are set right on the beach here on Galt Ocean Mile.

The Plaza South complex has 336 condo units.

 

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Currently there are 6 condos for sale here in Plaza South – 2 of which are new listings!

There have been 12 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 $434,900 – $1,350,000
  • Median list price $580,000
    – 2 Bedroom 2 Bathroom Unit

Median Sales Prices

  • Sales Price last 6 Months $428,000
     – 2 Bedroom 2 Bathroom Unit
  • Sales to List Price 95%
  • Days on Market 107 Days
Pool views from a condo for sale here in Plaza South on Galt Ocean Mile
Pool views from a condo for sale here in Plaza South on Galt Ocean Mile

Plaza South
Condos for Sale

There are currently 6 x Fort Lauderdale oceanfront condos for sale here in Plaza South.

This is up from 5 x Plaza South condos for sale as in our last post for August / Sept 2016 but is still well down from the 9 x Plaza South condos for sale as in our last post for May / June 2016!

Our market analysis report for these condos for sale is presented below:

 $$ Beds/Baths SF/FF List Price
High 5 / 4 4,050 $1,350,000
Low 1 / 1 1,450 $434,900
Avg 3 / 2 2,200 $770,800
Med 2 / 2 1,650 $580,000

We can see from our report that the median price for a condo for sale here in Plaza South is $580,000this being for a 2 bedroom 2 bathroom unit of 1650 square feet.

In our last post the median price for a condo for sale in Plaza South was $499,000 – this being for a 2 bedroom 2 bathroom unit of 1450 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 $434,000 this being for a 1 bedroom condo.

 

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
1 / 1 1,450 $434,900 $300
2 / 2 1,550 $575,000 $355
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:

  • 1 bedroom Plaza South condos for sale is $434,900 – this being for a 1 bedroom 1 bathroom unit of 1450 square feet with a list price to square foot price of $300.00 – In our last post there were no 1 bedroom units for sale!
  • 2 bedroom Plaza South condos for sale is $575,000this being for a 2 bedroom 2 bathroom unit of 1550 square feet with a list price to square foot price of $355.00 – In our last post the median for 2 bedroom units was over $75,000 lower at $499,000 – this being for a 2 bedroom 2 bathroom unit of 1450 square feet with a list price to square foot price of $344.00
  • 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 the same at $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
  • 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 $333.00 – In our last post the median for the 1 x 3 bedroom unit for sale was the same at $1,350,000 – this being for a 3 bedroom 2 bathroom unit of 4050 square feet with a list price to square foot price of $333.00
View from a 2 bedroom Galt Ocean Mile condo just listed for sale in Plaza South
View from a 2 bedroom Galt Ocean Mile condo just listed for sale in Plaza South

Plaza South
New Listings

There have been 2 new listings for Galt Ocean Mile condos for sale here in Plaza South over the last 30 days – this is up from no new listings as in our last 2 posts.

Our market summary report for these 2 units is presented below

Beds/Baths SF/FF List Price LP$/SqFt
2 / 2 1,650 $575,000 $348
1 / 1 1,450 $434,900 $300

We can see from this report the details for both these new listings:

A 2 bedroom unit has just been listed for sale for $575,000this 2 bedroom 2 bathroom 12th floor unit is 1650 square feet and has a list price to square foot price of $348.00.  This Galt Ocean Mile condo for sale offers amazing views of pool, courtyard and Ocean! The unit is open and spacious and has views of beach from all rooms!  You will love the balcony with its million dollar view.

A 1 bedroom unit has just been listed for sale for $434,900this 1 bedroom 1 bathroom 24th floor unit is 1450 square feet and has a list price to square foot price of $300.00 – this is the only 1 bedroom unit currently for sale.  This Galt Ocean Mile condo for sale has a stunning direct ocean view as well as pool views.  The unit is renovated with an open kitchen with eat in area, granite counter tops and tile floors throughout.

Kevin Wirth Fort Lauderdale Realtor

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

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View from a Fort Lauderdale oceanfront condo pending sale in Plaza South - Unit 21D
View from a Fort Lauderdale oceanfront condo pending sale in Plaza South – Unit 21D

Plaza South Condos
Pending Sales

There is currently 1 unit pending sale here in Plaza South – in our last post there was also just 1 unit pending sale!

The market analysis report for these units is presented below.

Beds/Baths SF/FF List Price LP$/SqFt
2 / 2 1,450 $481,900 $332


We can see from this report that a 2 bedroom condo listed for $481,900 is now pending sale –
this being for a 2 bedroom 2 bathroom 1450 square foot unit with a list price to square foot price of $332.00.

This unit – Plaza South Condo Unit 21 D is a turn-key designer renovated unit in prestigious here on Galt Mile.

This 21st floor condo offers spectacular direct ocean, pool, garden, and city/Intracoastal views.

The unit features: marble floors, an open kitchen with cherry wood cabinets, granite counter tops and Frigidaire appliances.

There is a built-in Murphy bed in second bedroom/office.

You will love the “absolutely gorgeous” master suite with Jacuzzi tub, separate shower, cherry wood vanity with double sinks and granite counter tops.

All the furniture is included.

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 12 sales of Fort Lauderdale condos here in Plaza South in the last 6 months – this is down slightly from 13 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
Avg 2 / 2 1,516 $435,083
Med 2 / 2 1,450 $428,000

We can see from this report that the average price for a unit sold over the last 6 months has been $435,083 and the median has been $428,000

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 $428,000 this month a drop of nearly 15% or $75,000!

  • In our last report for the average price for a unit sold was $443,923 and the median has been $440,000
  • In our prior report for the average price for a unit sold was $495,250 and the median has been $472,500
  • In our earlier 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 2 Bedroom Galt Ocean Mile condo recently sold Plaza South
Super views from a 2 Bedroom Galt Ocean Mile condo recently sold Plaza South – Unit 21L

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 $450,000 $297

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 the same at $375,000 – this being for a 1 bedroom 1 bathroom unit of 1450 square feet with a sales price to square foot price of $259.00
  • 2 bedroom units has been $450,500this being for a 2 bedroom 2 bathroom unit of 1650 square feet with a sales price to square foot price of $297.00 – In our last post the median sales price for 2 bedroom units was higher at $472,500 – this being for a 2 bedroom 2 bathroom unit of 1650 square feet with a sales price to square foot price of $292.00

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 $286
Med $289

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 $289.00 per square foot.

This is down ever so slightly from our last post when it was $291.00!

% 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 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 94%
Med 95%

We can see from this report that the median sales price to list price paid over the last 6 months has been 95% this is well down from 98% in our last post!

This means if a Fort Lauderdale condo for sale here in Plaza South is listed at $550,000 – then based on median sales data the condo could be expected to sell for 95% of that amount or $522,500.

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  –
which 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.

Plaza South
Condo Sales Itemized

Here is the data for each of the condos sold over the last 6 months here in Plaza South

Plaza South
Condo Sales Itemized

Here is the data for each of the condos sold over the last 6 months here in Plaza South

Condo  Beds/Baths SF/FF Sale Price
Unit30B 2 / 2 1,650 $570,000
Unit26C 2 / 2 1,650 $582,000
Unit25D 2 / 2 1,450 $462,500
Unit 2D 2 / 2 1,450 $430,000
Unit21L 2 / 2 1,650 $450,000
Unit14D 1 / 2 1,450 $440,000
Unit17D 2 / 2 1,450 $411,000
Unit27D 1 / 1 1,450 $426,000
Unit 2C 2 / 2 1,650 $394,500
Unit 6G 1 / 1 1,450 $375,000
Unit10D 1 / 1 1,450 $350,000
Unit11G 1 / 1 1,450 $330,000

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 30B a 2 bedroom condo which sold for $570,000.

This 2 bedroom 2 bathroom 1650 unit had a sales price to square foot price of $345.00 and had 89 days on market!

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 12 recent sales over the last 6 months- equating to 2 sales monthly!

As outlined in my last post – I personally believe that the recent softening of median prices has stimulated strong interest in Plaza South condos for sale as well as good sales activity.

It is important to note that now with a median sales price to list price of 95%  down from 98% – indicating that some sellers have been motivated and prepared to discount list prices in order to secure a sale!

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