Ocean views from condos for sale in Plaza South

Plaza South Condos

Plaza South Condos
Fort Lauderdale

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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 3 condos for sale here in Plaza South – of which 2 are new listings!

4 units are pending sale – 2 x 2 bedroom units and 2 x 3 bedroom units!

There have been 3 sales in 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 South to 2014 sales. Important information for both buyers and sellers!

Key Statistics for Buyers / Sellers
  • Units for Sale $379,000 – $1,100,000
  • Median list price $525,000
    – 2 Bedroom 2 Bathroom Unit

Median Sales Prices

  • Sales Price last 6 Months $439,000
     – 2 Bedroom 2 Bathroom Unit
  • Sales to List Price 98%
  • Days on Market 82 Days

Plaza South
Condos for Sale

There are currently 3 x Fort Lauderdale condos for sale here in Plaza South!

 $$ Beds/Baths SF/FF List Price
High 3 / 3 2,600 $1,100,000
Low 1 / 1 1,450 $379,000
Avg 2 / 2 1,900 $668,000
Med 2 / 2 1,650 $525,000

 

We can see from our report that the median price for a condo for sale here in Plaza South is $525,000this being for a 2 bedroom 2 bathroom unit of 1650 square foot.

Note that of the 3 units for sale – 1 unit is a 1 bedroom condo, 1 unit is a 2 bedroom condo and the 3rd unit for sale is a 3 bedroom condo.

Also important to note is that 2 of these units for sale are new listings.

Look at the superb views from this Plaza South Condo
Look at the superb views from this Plaza South Condo

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.

The market analysis report for these new listings is presented below

 Condo Beds/Baths SF/FF List Price
Unit9C 2 / 2 1,650 $525,000
Unit11G 1 / 1 1,450 $379,000

 

We can see from this report that:

  • Condo Unit 9 C a 2 bedroom 2 bathroom unit of 1650 square feet has been listed for sale for $525,000 with a list price to square foot price of $318.00
  • Condo Unit 11G a 1 bedroom 1 bathroom unit of 1450 square feet has been listed for sale for $379,000with a list price to square foot price of $261.00

Kevin Wirth Fort Lauderdale Realtor

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Kevin Wirth – Realtor
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Plaza South Condos
Pending Sales

There are currently 4 x Plaza South Condos under contract and pending sale – 2 x 2 bedroom units and 2 x 3 bedroom units!

2 Bedroom Units
Pending Sales

Here is our market analysis report for the 2 x 2 bedroom units pending sale.

 Condo Beds/Baths SF/FF List Price
Unit10J 2 / 2 1,650 $499,000
Unit15H 2 / 2 1,650 $485,000
Median 2 / 2 1,650 $492,000

 

We can see from this report that:

  • Unit 10 J a 2 bedroom 2 bathroom condo offered for sale at $499,000 – is now pending sale.  This condo is a great buy in a prestigious building here on Galt Ocean Mile.   The unit has some updates and a nice feature is that glass sliding door from kitchen to balcony.   The condo offers views of the pool, gardens and ocean from kitchen and large balcony.   There are ocean views from both bedrooms.
  • Unit 15H also a 2 bedroom 2 bathroom condo offered for sale at $485,000 – is now pending sale.  This condo is a very well maintained unit.   The unit has a remodeled master bath and offers beautiful South East views of the ocean. 

3 Bedroom Units
Pending Sales

Here is our market analysis report for the 2 x 3 bedroom units pending sale.

 Condo Beds/Baths SF/FF List Price
Unit2F 3 / 2 2,600 $700,000
Unit11F 3 / 2 2,600 $700,000
Median 3 / 2 2,600 $700,000

 

We can see from this report that:

  • Unit 2 F a 3 bedroom 2 bathroom condo offered for sale at $700,000 – is now pending sale.  You will love the direct ocean views from this huge 3 bedroom, 2.5 bathroom “corner” condo. This unit is in original condition, but has great ‘bones’ and can be the showplace you want it to be, here in Paradise
  • Unit 11F a 3 bedroom 2 bathroom condo also offered for sale at $700,000 – is now pending sale.   This condo is a spacious 3 bedroom 2.5 bathroom “corner” unit with direct ocean & Intracoastal views!   The apartment is in original condition & requires “TLC” but offers an excellent investment opportunity.  The unit has large family & dining area, large bedrooms, spacious den & entertaining area.
Ocean views from the sundeck here at Plaza South
Ocean views from the sundeck here at Plaza South

Plaza South Sales
Last 6 Months

There has been 3 sales of Fort Lauderdale condos here in Plaza South in the last 6 months.

The market analysis report for these units is presented below.

 $$ Beds/Baths SF/FF Sale Price
High 2 / 2 1,650 $485,000
Low 1 / 1 1,450 $240,000
Avg 2 / 2 1,583 $388,000
Med 2 / 2 1,650 $439,000

 

We can see from this report that the average price for a unit sold over the last 6 months has been $388,000 and the median has been $439,000 – down from our last post!

In our last report for May / June 2015 when there had been 6 condos sold in the preceding 6 months the average price for a unit sold was $465,650 and the median has been $462,000.

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

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

 $$ SP$/SqFt
High $294
Low $166
Avg $242
Med $266

 

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 $266.00 per sq ft – down from $280.00 in our last post!

Important to note is the highest price paid at $294.00

% 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 98%
Med 98%

 

We can see from this report that BOTH the average and median sales price to list price for Fort Lauderdale condo here in Plaza South  has been 98% – up from 95% in our last post.

This means if a Fort Lauderdale condo for sale here in Plaza South is listed at $400,000 – then based on median sales data the condo would sell for 98% of that amount or $394,700.

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 84
Med 82

 

We can see from this report that the average days on market for a Fort Lauderdale condo for Sale in Plaza South is 84 days

More importantly is the median days on market at 82 days or less than 3 months!

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.

Important to note is the median sales price to square foot price over the last 6 months at $266.00 – this is reflective of units being sold that were in real need of some TLC or total updating!

For all of 2014 the median sales price was $302.00 – see the report below.

 $$ SP$/SqFt
Avg $277
Med $302

 

This “gap” of $36.00 per square foot between all of 2014 and sales over the last 6 months will I predict soon disappear as new “more updated” listings come on stream. 

As outlined in my last post I am expecting median sales price in 2015 to be closer to $320.00 per square foot!

I note that the median list price to square foot price for the 3 units currently for sale is $318.00!

I hope you have enjoyed reading my post on Fort Lauderdale Condos for Sale in Plaza South – by Kevin Wirth Realtor