View Galt Ocean Mile condo Regency Tower 3850 Galt Ocean Drive Fort Lauderdale for sale

Regency Tower Condos

Regency Tower
Galt Ocean Mile Condos
2020 Pricing Guide

Welcome to our July 2020 / August 2020 pricing guide for Regency Tower Galt Ocean Mile condos for sale 3850 Galt Ocean Drive Fort Lauderdale Florida.

Fort Lauderdale condos for sale here in Regency Tower are direct oceanfront units set right on the beach here on Galt Ocean Mile!

Search Regency Tower Condos for Sale

The search includes both Regency Tower and Regency Tower South Units for Sale

Currently there are 9 x condos for sale here in Regency Tower Fort Lauderdale – a mix of 1 & 2 bedroom units!

There have been 2 sales of condo units over the last 6 months and 3 units are 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 over the last 6 months!

We also compare recent sales in Regency Tower important information for both buyers and sellers!

Regency Tower
Galt Ocean Mile – Key Statistics
Regency Tower Condominium complex in Fort Lauderdale, Florida
Address: 3850 Galt Ocean Dr, Fort Lauderdale, FL 33308
  • Prices from $335,000 – $955,000

Median Prices

  • Median List Price $520,000
    for a 2 bedroom 2 bathroom unit
  • Median Sales Price $432,000
    – for a 2 bedroom 2 bathroom unit
  • Median Sales Price to Sq Ft Price $267.00
    Median Sales to List Price 98%
  • Days on Market 71 Days
View Galt Ocean Mile condominium Regency Tower 3850 Galt Ocean Drive Fort Lauderdale
View Galt Ocean Mile condominium Regency Tower 3850 Galt Ocean Drive Fort Lauderdale

Regency Tower
Condos for Sale

There are currently 9 x Regency Tower Galt Ocean Mile condos for sale here in Fort Lauderdale – a mix of 1 and 2 bedroom units!

The number of condos for sale is up slightly from the 8 units for sale as in our last post for May 2020 / June 2020

Our market analysis report for these 9 x Galt Ocean Mile condos for sale is presented below:

BEDS / BATHS LA LP$
Min 1 / 1 980 $335,000
Max 3 / 2 2,184 $955,000
Avg 2 / 2 1,509 $550,878
Median 2 / 2 1,588 $520,000

We can see from this report that the average price for an Galt Ocean Mile direct oceanfront condo for sale here in Regency Tower is $550,878 – this being for a 2 bedroom 2 bathroom unit!

In our last post for May 2020 / June 2020 the average price for an Galt Ocean Mile direct oceanfront condo for sale in Regency Tower was lower at $522,937 – this being for a 2 bedroom 2 bathroom unit!

We can also that the median price for a Galt Ocean Mile condos for sale here in Regency Tower is $520,000 – this being for a 2 bedroom 2 bathroom unit

In our last post the median price for a condo for sale here in Regency Tower was lower at $512,500 – this being for a 2 bedroom 2 bathroom unit

It is important to note that the median list price for Regency Tower condos for sale was higher in our last 2 posts at $525,000 for May 2020 / June 2020 and $643,000 for March 2020 / April 2020.

Regency Tower
Prices by Bedroom

Here is the market summary report for Regency Tower Galt Ocean Mile condos for sale – showing median prices by bedroom.

BEDS / BATHS LA LP$ LP$/SqFt
1 / 1 1,050 $349,000 $332.00
2 / 2 1,594 $557,500 $357.00
3 / 2 2,132 $852,500 $399.00

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

  • 1 bedroom Regency Tower condos for sale is $349,000 – this being for a 1 bedroom 1 bathroom unit of 1050 square feet with a list price to square foot price of $332.00 In our last post the median list price for 1 bedroom condos for sale was lower at $298,500 – this being for a 1 bedroom 1 bathroom unit of 1187 square feet with a list price to square foot price of $251.00
  • 2 bedroom Regency Tower condos for sale is $557,500 – this being for a 2 bedroom 2 bathroom unit of 1594 square feet with a list price to square foot price of $357.00 – In our last post the median price for 2 bedroom condos for sale was lower at $532,000 – this being for a 2 bedroom 2 bathroom unit of 1720 square feet with a list price to square foot price of $317.00
  • 3 bedroom Regency Tower condos for sale is $852,500 – this being for a 3 bedroom 2 bathroom unit of 2132 square feet with a list price to square foot price of $399.00 –  In the last post there were no 3 bedroom units for sale – However in the last post when there were 3 bedroom units for sale the median price was $889,000 – this being for a 3 bedroom 2 bathroom unit of 2323 square feet with a list price to square foot price of $383.00

Kevin Wirth Fort Lauderdale Realtor

Buying / Selling?

Call Me Today!


Kevin Wirth P.A. – Realtor

Galt Ocean Mile Specialist 
954-459-0337

kevinsellsmore@gmail.com

Click here to email me now

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View Galt Ocean Mile New Listings


View Galt Ocean Mile condo Regency Tower 3850 Galt Ocean Drive Fort Lauderdale just listed for sale Unit 505
View Galt Ocean Mile condo Regency Tower 3850 Galt Ocean Drive just listed for sale Unit 505

Regency Tower
New Listings

There has been 2 new listings of Galt Ocean Mile condos for sale here in Regency Tower over the last 30 days – both of which are 2 bedroom units!

In our last post there had been just 1 new listing over the preceding 30 days – this being unit 1208 a 1 bedroom condo.

Our market analysis report for these new listings is presented below.

BEDS / BATHS LA LP$
Unit 802 2 / 2 1,600 $595,000
Unit 505 2 / 2 1,450 $495,000

We can see from this report that:

Unit 802 a 2 bedroom Galt Ocean Mile condo in Regency Tower has just been listed for sale for $595,000 – this 2 bedroom 2 bathroom 1600 square foot unit has a list price to square foot price of $372.00

Unit 802 is a completely updated condo with ocean views from the balcony and every room!

This Galt Ocean Mile condo for sale features: a large balcony and impact windows, a new kitchen and new bathroomss, tile floors throughout, a washer and dryer and lots of closet space.  The unit is open and bright.

Unit 505 a 2 bedroom Galt Ocean Mile condo in Regency Tower has just been listed for sale for $595,000 – this 2 bedroom 2 bathroom 1600 square foot unit has a list price to square foot price of $372.00

Unit 802 is stunning remodeled condo with beautiful ocean views!

This Galt Ocean Mile condo for sale features: a newer kitchen topped with granite, stainless steel appliances, and recessed lighting.  The unit boasts an open flowing floor-plan with large rooms.  The main living areas have neutral immaculate 24 x 24 porcelain floors and custom crown moldings.

View Galt Ocean Mile condo Regency Tower 3850 Galt Ocean Drive Fort Lauderdale pending sale Unit 1804
View Galt Ocean Mile condo Regency Tower 3850 Galt Ocean Drive pending sale Unit 1804

Regency Tower
Pending Sales

There are currently 3 x Regency Tower Galt Ocean Mile condos pending sale – In our last post there were no condos pending sale!

Our market analysis report for these 3 units is presented below:

BEDS / BATHS LA LP$
Unit 1707 2 / 2 1,550 $435,000
Unit 501 2 / 2 1,500 $389,000
Unit 1804 1 / 1 1,050 $249,850

We can see from this report that:

Unit 1707 a 2 bedroom Galt Ocean Mile condo listed for sale in Regency Tower for $435,000 – this 2 bedroom 2 bathroom 1550 square foot unit with a list price to square foot price of $281.00

Unit 1707 is a corner unit / wrap around balcony which offers amazing city and ocean views!

This Galt Ocean Mile condo for sale features: Impact windows, ceramic tile throughout and a washer and dryer!

Unit 501 a 2 bedroom Galt Ocean Mile condo listed for sale in Regency Tower for $389,000 – this 2 bedroom 2 bathroom 1500 square foot unit with a list price to square foot price of $259.00

Unit 501 is spectacular East and North views of the ocean from all rooms.

This Galt Ocean Mile condo for sale is ready for a complete re-do – the unit has impact windows in place.

Unit 1804 a 1 bedroom Galt Ocean Mile condo listed for sale in Regency Tower for $249,850 – this 1 bedroom 1 bathroom 1050 square foot unit with a list price to square foot price of $238.00

Unit 1804 is a bright and spacious South-Facing ocean view condo.

This Galt Ocean Mile condo for sale features: delightful 90 degree ocean views from your unit and balcony!   The unit has impact windows. 

View Galt Ocean Mile condo Regency Tower 3850 Galt Ocean Drive Fort Lauderdale recently sold Unit 310
View Galt Ocean Mile condo Regency Tower 3850 Galt Ocean Drive recently sold Unit 310

Regency Tower
Sales Last 6 Months

There have been just 2 x Galt Ocean Mile condos sold here in Regency Tower over the last 6 months – both 2 bedroom units.

In our last post there had also been just 2 closed sales over the preceding 6 months – Unit 407 a 2 bedroom unit and Unit 1403 a 1 bedroom unit!

Our market summary report for these 2 recent sales is presented below:

BEDS / BATHS LA SP$
Min 2 / 2 1,500 $420,000
Max 2 / 2 1,744 $444,000
Avg 2 / 2 1,622 $432,000
Median 2 / 2 1,622 $432,000

We can see from this report that the median sales price over the last 6 months has been $432,000 – this also being for a 2 bedroom 2 bathroom unit!

Square Foot Prices
Condos Sold

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

SP$/SqFt
Min $255.00
Max $280.00
Avg $267.00
Median $267.00

We can see from this report that the median sales price to square foot price paid for a Regency Tower South condo sold over the last 6 months has been $267.00 per square foot

It is also important to note the highest price paid over the last 6 months at $280.00 per square foot!

% Sales to List Price

An important real estate indicator is how much  buyers are paying for Regency Tower Galt Ocean Mile condos for sale – we can gauge this based on the percentage of sales price to list price paid by buyers.

Our market analysis report for this is presented below:

SP$/LP$
Min 96%
Max 100%
Avg 98%
Median 98%

We can see that the median sales price to list price for a condo here in Regency Tower over the last 6 months has been 98% 

This means if a Fort Lauderdale condo for sale here in Regency Tower 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 – based on MLS data!

Days on Market

Days on market for Regency Tower Galt Ocean Mile condos for sale is also a very important indicator of demand for units in this complex.

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

DOM
Min 1
Max 142
Avg 71
Median 71

We can see from this report that the median days on market at 71 days or just over 10 weeks!

Days on market is the time from when the condo was listed for sale till the condo sold AND closed.

Regency Tower
Condo Sales Itemized

Here is the data for the 2 x Regency Tower Galt Ocean Mile condos sold over the last 6 months

BEDS / BATHS LA SP$
Unit 1107 2 / 2 1,744 $444,000
Unit 310 2 / 2 1,500 $420,000

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 1107 a 2 bedroom condo which sold for $444,000!

Unit 1107 is fabulous NW corner unit with wrap around balcony. This condo offers incredible and unobstructed views of the Intracoastal and city and ocean views from balcony, living room and bedrooms.

This Galt Ocean Mile condo features: consistent neutral tile throughout unit, new kitchen cabinets and a new stainless steel refrigerator.

The unit has a washer and dryer in separate closet.

Unit 1107 was a 2 bedroom 2 bathroom 1744 square foot Galt Ocean Mile condo and this unit sold for $255.00 per square foot.

Unit 1107 sold for 96% of its list price and had 142 days on market – or just under 5 months!

Kevin Wirth Realtor outside Galt Ocean Mile condominiums

My Thoughts / Summary

Regency Tower Galt Ocean Mile condos are direct oceanfront units set in a great complex here on Galt Mile right on the Beach!

We currently have a really nice range of condos for sale – with 9 units for sale!

The last 6 months have been slow with just 2 units sold – this in my mind is a direct result of the Corona-Virus!

I am please report however that buyer activity is on the rise and also that we now have 3 units pending sale.

I hope you have enjoyed my post on Fort Lauderdale condos for sale here in Regency Tower – Kevin Wirth – Realtor