View Riviera Galt Ocean Mile condo for sale Fort Lauderdale

Riviera Condos

Riviera Condos
Fort Lauderdale

Welcome to our October / November 2017 post of Ocean Riviera condos for sale Fort Lauderdale.

Fort Lauderdale condos for sale here in Ocean Riviera are direct oceanfront units set right on the Galt Ocean Mile Beachfront.

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There are 5 condos currently for sale in this great direct oceanfront complex – 1 of these is a new listing!

There have been 8 sales in the last 6 months – and 3 units are 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 The Riviera – Important information for both buyers and sellers!

Key Statistics for Buyers / Sellers

  • Prices from $449,900 – $800,000

Pricing Guide

  • Median List Price $515,000
    – 2 bedroom 2 bathroom unit

Median Sales Prices

  • Sales Price to Square Foot Price $260.00
  • Median Sales to List Price 95%
  • Days on Market 91 Days
View Riviera condo for sale Galt Ocean Mile in Ocean Riviera
View Riviera condo for sale Galt Ocean Mile in Ocean Riviera

Ocean Riviera
Condos for Sale

The following market report is for the 5 x Fort Lauderdale oceranfront condos for sale in the Ocean Riviera Fort Lauderdale – down from our last post!

In our last post on Riviera Condos for Sale for August / September 2017 there were 7 units for sale!

Our market analysis report for these units is presented below:

BEDS / BATHS LA LP$
Min 2 / 2 1575 $449,900
Max 2 / 2 1656 $800,000
Avg 2 / 2 1632 $551,960
Median 2 / 2 1656 $515,000

We can see from the market report that the median price for a unit currently for sale is $515,000  – this being based on a 2 bedroom 2 bathroom unit of 1656 square feet with a list price to square foot price of $311.00 – up from our last 2 posts!

In our last post the median price for a unit for sale was $475,000  – this being based on a 2 bedroom 2 bathroom unit of 1656 square feet with a list price to square foot price of $302.00

In our prior post the median price for a unit for sale was $474,950  – this being based on a 2 bedroom 2 bathroom unit of 1656 square feet with a list price to square foot price of $299.00

We can also see from this post that the highest priced unit is offered for sales for $800,000 and the lowest priced unit is offered for sale for $449,900!

View Ocean Riviera condominium from Galt Ocean Drive Fort Lauderdale
View Ocean Riviera condominium from Galt Ocean Drive Fort Lauderdale

Square Foot Prices
Condos for Sale

Here is our market summary report showing square foot prices for Fort Lauderdale Condos here in The Riviera

LP$/SqFt
Min $286.00
Max $494.00
Avg $338.00
Median $311.00

What we can see from this report is the spread of prices from $286.00 – $494.00 with the median at $311.00 per square foot.

In our last post the median list price to square foot price was $302.00

Important to factor into these prices is the units condition, location in the building (stack) and views.

Pool views from a Galt Ocean Mile condo for sale in Riviera
Pool views from a Galt Ocean Mile condo here in Riviera Fort Lauderdale

Ocean Riviera
Condo Median Prices

Here is the market summary report showing median prices by bedroom for condos here in the Riviera.

BEDS / BATHS LA LP$ LP$/SqFt
2 / 2 1656 $515,000 $311.00

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

  • Currently there are no 1 Bedroom Ocean Riviera condos for sale – In our last post the median for 1 Bedroom Ocean Riviera condos for sale was $249,999 – this being for a 1 Bedroom 1 Bathroom 1076 square foot unit with a list price to square foot price of $232.00
  • 2 Bedroom Ocean Riviera condos for sale is $515,000 – this being for a 2 Bedroom 2 Bathroom 1656 square foot unit with a list price to square foot price of $311.00.  In our last post the median for 2 Bedroom Ocean Riviera condos for sale was lower at $490,000 – this being for a 2 Bedroom 2 Bathroom 1656 square foot unit with a list price to square foot price of $303.00.

Ocean Riviera
New Condo Listings

There has been 1 new listings of a condo for sale here in Ocean Riviera in the last 30 days

In our last post there were 2 new listings of Riviera condos for sale – these being units 1406 a 2 bedroom condo and unit 308 a 1 bedroom condo.

Our market summary report for the new Galt Ocean Mile listing is presented below:

CONDO BEDS / BATHS LA LP$
Unit 1801 2 / 2 1620 $800,000

We can see from this report that unit 1801 a 2  bedroom Riviera condo has just been listed for sale for $800,000 – this being a 2 bedroom 2 bathroom 1620 square foot condo with a list price to square foot price of $494.00

This Galt Ocean Mile condo for sale is a South east corner unit with great ocean views.

The unit needs updating and includes 2 parking spaces!


Kevin Wirth Fort Lauderdale Realtor

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

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View Galt Ocean Mile New Listings

View Galt Ocean Mile condo pending sale Ocean Riviera Unit 1107
View Galt Ocean Mile condo pending sale Ocean Riviera Unit 1107

Ocean Riviera
Pending & Recent Sales

We review and discuss the data for sales of Ocean Riviera Condos below – including pending sales and sales over the last 6 months below.

Ocean Riviera Condos
Pending Sales

There are currently 3 units pending sale here in Ocean Riviera 

In our last post there were 2 units pending sale – Unit 904, Unit 303 – both 1 bedroom units!

Our market summary report for these Galt Ocean Mile condos pending sale is presented below:

CONDO BEDS / BATHS LA LP$
Unit 1406 2 / 2 1656 $485,000
Unit 1107 2 / 2 1656 $420,000
Unit 303 1 / 1 1076 $244,900

We can see from this report that:

Unit 1406 a 2  bedroom Riviera condo listed for sale for $485,000 is now pending sale  – this being a 2 bedroom 2 bathroom 1656 square foot condo with a list price to square foot price of $293.00

This Galt Ocean Mile condo pending sale is a spectacular Ocean Riviera Southwest corner unit.

This unit is completely renovated and features: Bamboo floors and Granite counters.   You can see the ocean and city from every room!

Unit 1107 a 2  bedroom Riviera condo listed for sale for $420,000 is now pending sale  – this being a 1 bedroom 1 bathroom 1656 square foot condo with a list price to square foot price of $254.00

This Galt Ocean Mile condo pending sale is an immaculate corner unit, with newer hurricane impact windows that flood the home with light.

The unit boasts a large formal entry foyer, spacious living room, formal dining room, and generous sized bedrooms.  The Master has an ensuite, and walk-in closet AND a private balcony that showcases the city and ocean views

Unit 303 a 1 bedroom Riviera condo listed for sale for $244,900 is also now pending sale – this being a 1 bedroom 1 bathroom 1076 square foot condo with a list price to square foot price of $228.00

This Galt Ocean Mile condo pending is a large 1 bedroom 1.5 bathroom unit with a Southeast exposure and great ocean and pool views.  

The unit has impact windows throughout and there is a washer & dryer in the unit. The unit comes with extra storage unit on your floor. 

Look at the views from this Fort Lauderdale oceanfront condo recently sold in Riviera - Unit 1405
Look at the views from this oceanfront condo recently sold in Riviera – Unit 1405

Ocean Riviera
Sales Last 6 Months

There have been 8 sales of condos here in Ocean Riviera in the last 6 months – this is up from 6 sales over the preceding 6 months as per our last post!

The market analysis report for these sales is presented below.

BEDS / BATHS LA SP$
Min 1 / 1 1076 $242,000
Max 2 / 2 1656 $430,000
Avg 1 / 1 1273 $335,000
Median 1 / 1 1076 $329,000

We can see from this report that the average sales price for a condo sold here in Riviera over the last 6 months has been $335,000 – this being for a 1273 square foot 1 bedroom 1 bathroom unit.

We can also see from this report that the median sales price for a condo sold here in Riviera over the last 6 months has been $329,000  – this being for a 1076 square foot 1 bedroom 1 bathroom unit.

It is also useful to look at median sales prices by bedroom which we do below.

Ocean Riviera Condos
Median Sales Prices

Here is the market summary report showing median sales prices by bedroom for condos sold here in the Riviera over the last 6 months!

BEDS / BATHS LA SP$ SP$/SqFt
1 / 1 1076 $275,000 $256.00
2 / 2 1575 $415,000 $263.00

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

  • 1 Bedroom Ocean Riviera condos sold is $275,000 – this being for a 1 Bedroom 1 Bathroom 1076 square foot unit with a sales price to square foot price of $256.00.  In our last post the median for 1 Bedroom Ocean Riviera condos sold was the same at $275,000 – this being for a 1 Bedroom 1 Bathroom 1076 square foot unit with a sales price to square foot price of $256.00.
  • 2 Bedroom Ocean Riviera condos sold is $415,000 – this being for a 2 Bedroom 2 Bathroom 1575 square foot unit with a list price to square foot price of $263.00.  In our last post the median for 2 Bedroom Ocean Riviera condos sold was also the same at $415,000 – this being for a 2 Bedroom 2 Bathroom 1575 square foot unit with a list price to square foot price of $263.00.  

Square Foot Prices
Condos Sold

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

SP$/SqFt
Min $225.00
Max $307.00
Avg $264.00
Median $260.00

We can see from this report that the median sales price to square foot price paid for a The Riviera condo sold over the last 6 months has been $260.00 – the same as in our last post!

We can also see that the highest square foot price paid has been $307.00

% Sales to List Price

An important real estate indicator is how much  buyers are paying for Fort Lauderdale Condos for sale here in The Riviera – 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$/LP$
Min 91%
Max 99%
Avg 95%
Median 95%

We can see from this report that BOTH the average and median sales price to list price for Fort Lauderdale condo here in The Riviera  has been 95%

In our last post the median sales price to list price was 94%!

This means if the condo is listed for sale for $450,000 – then based on the median MLS prices it could be expected to sell for 95% of its list price or $427,500!

Days on Market

Days on market for Condos for Sale in The Riviera is an 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 7
Max 309
Avg 125
Median 91

We can see from this report that the median days on market Fort Lauderdale condo for sale in The Riviera over the last 6 months has been 91 days or just over 3 months!

It is important to note that in our last post the median days on market was 116 days and in our prior post the median was 295 days  – or just under 10 months!

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

Ocean Riviera
Condo Sales Itemized

Here is the data for each of the condos sold over the last 6 months here in Ocean Riviera

CONDO BEDS / BATHS LA SP$
Unit 1405 2 / 2 1575 $430,000
Unit 802 2 / 2 1575 $415,000
Unit 1406 2 / 2 1656 $410,000
Unit 904 1 / 1 1076 $330,000
Unit 1608 1 / 1 1076 $328,000
Unit 409 1 / 1 1076 $275,000
Unit 609 1 / 1 1076 $250,000
Unit 308 1 / 1 1076 $242,000

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 1405 a 2 bedroom 2 bathroom condo which sold for $430,000!

Unit 1405 sold for 99% of list price and had 115 days on market!

Kevin Wirth Realtor outside Galt Ocean Mile condominiums

My Thoughts / Summary

Riviera is a great mid century oceanfront complex set right on the beach here on Galt Ocean Mile.

Sales activity over the last 6 months have really picked up with 8 units sold – this is a big increase over earlier in the year when just 3 units had been sold over the preceding 6 months! 

Days on market is also well down – from 10 months to 3 months!

Both these are very encouraging and postive indicators for Riviera!

I hope you have enjoyed my Post on Fort Lauderdale condos for sale here in Ocean Riviera – By Kevin Wirth Realtor