View Galt Ocean Mile condo for sale Riviera 3550 Galt Ocean Drive Fort Lauderdale

Riviera Condos

Ocean Riviera
Galt Ocean Mile Condos
2020 Pricing Guide

Welcome to our March 2020 / April 2020 pricing guide for Ocean Riviera Galt Ocean Mile condos for sale 3550 Galt Ocean Drive Fort Lauderdale Florida – this complex is commonly referred to as the Riviera Galt Ocean Mile.

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 4 condos currently for sale in this great direct oceanfront complex – up from 2 units for sale as in our last post!

There have been 4 sales in the last 6 months – all of which have been 2 bedroom units

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!

Riviera Galt Ocean Mile
Key Statistics
Riviera Condominium complex in Fort Lauderdale, Florida
Address: 3550 Galt Ocean Dr, Fort Lauderdale, FL 33308

  • Prices from $295,000 – $870,000

Median Sales Prices

  • Median Sales Price $527,500
    – 2 bedroom 2 bathroom unit
  • Sales Price to Square Foot Price $323.00
  • Median Sales to List Price 93%
  • Days on Market 106 Days
View Galt Ocean Mile condominium Ocean Riviera 3550 Galt Ocean Drive Fort Lauderdale
View Galt Ocean Mile condominium Ocean Riviera 3550 Galt Ocean Drive Fort Lauderdale

Ocean Riviera
Condos for Sale

The following market report is for the 5 x Riviera Galt Ocean Mile condos for sale Fort Lauderdale –the number of condos for sale is well up from 2 condos for sale as our last post!!

Our market analysis report for these 5 units is presented below:

BEDS / BATHS LA LP$
Min 1 / 1 970 $295,000
Max 3 / 2 2,000 $870,000
Avg 2 / 2 1,533 $572,760
Median 2 / 2 1,575 $484,900

We can see from the market report that the average price for a Riviera Galt Ocean Mile condo currently for sale is $572,760 – this being for a 2 bedroom 2 bathroom 1533 square foot unit with a list price to square foot price of $363.00

We can also see from this report that the median list price for a Riviera Galt Ocean Mile condo for sale is $484,900 – this being for a 2 bedroom 2 bathroom 1575 square foot unit with a list price to square foot price of $308.00

Currently there is a range of 1, 2 and 3 bedroom units for sale here in Ocean Riviera – we look at median prices for these units for sale below.

 

View Ocean Riviera Galt Ocean Mile condominium 3550 Galt Ocean Drive Fort Lauderdale
View Ocean Riviera Galt Ocean Mile condominium 3550 Galt Ocean Drive Fort Lauderdale

Ocean Riviera
Condo Median Prices

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

BEDS / BATHS LA LP$ LP$/SqFt
1 / 1 970 $295,000 $304.00
2 / 2 1,575 $484,900 $308.00
3 / 2 2,000 $870,000 $435.00

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

  • 1 Bedroom Ocean Riviera Galt Ocean Mile condos for sale is $295,000 – this being for a 1 Bedroom 1 Bathroom 970 square foot unit with a list price to square foot price of $304.00.  In our last post there were no 1 Bedroom Ocean Riviera Galt Ocean Mile condos for sale – However in our prior post the median for 1 bedroom units for sale was $319,450 – this being for a 1 Bedroom 1 Bathroom 1076 square foot unit with a list price to square foot price of $297.00
  • 2 Bedroom Ocean Riviera Galt Ocean Mile condos for sale is $484,900 – this being for a 2 Bedroom 2 Bathroom 1575 square foot unit with a list price to square foot price of $308.00.  In our last post the median for 2 Bedroom Ocean Riviera condos for sale was lower at $449,900 – this being for a 2 Bedroom 2 Bathroom 1500 square foot unit with a list price to square foot price of $300.00.
  • 3 Bedroom Ocean Riviera Galt Ocean Mile condos for sale is $870,000 – this being for a 3 Bedroom 2 Bathroom 2000 square foot unit with a list price to square foot price of $435.00.  In our last post the median for 3 Bedroom Ocean Riviera condos for sale was higher at $900,000 – this being for a 3 Bedroom 2 Bathroom 2000 square foot unit with a list price to square foot price of $450.00.

Ocean Riviera
New Condo Listings

There have been no new listings of a Ocean Riviera Galt Ocean Mile condos for sale in 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 P.A.  – Realtor
Galt Ocean Mile Specialist
954-459-0337

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View Galt Ocean Mile New Listings

View Galt Ocean Mile condo Riviera 3550 Galt Ocean Drive Fort Lauderdale recently sold Unit 1601
Galt Ocean Mile condo Riviera 3550 Galt Ocean Drive Fort Lauderdale recently sold Unit 1601

Ocean Riviera
Pending & Recent Sales

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

Ocean Riviera Condos
Pending Sales

There are currently no units pending sale here in Riviera – this is the same as in our last post!

Ocean Riviera
Sales Last 6 Months

There have been 4 sales of Ocean Riviera Galt Ocean Mile condos in the last 6 months – all of which were 2 bedroom units!

This is down from 6 sales over the preceding 6 months as in our last post for January 2020 / February 2020!

The market analysis report for these 4 sales is presented below.

BEDS / BATHS LA SP$
Min 2 / 2 1,620 $355,000
Max 2 / 2 1,656 $620,000
Avg 2 / 2 1,638 $507,500
Median 2 / 2 1,638 $527,500

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 $507,500 – this being for a 1638 square foot 2 bedroom 2 bathroom unit.

We can also see from this report that the median sales price for a Riviera Galt Ocean Mile condo  over the last 6 months has been $527,500  – this being for a 1638 square foot 2 bedroom 2 bathroom unit.

In our last post for January 2020 / February 2020 the median sales price for a Riviera Galt Ocean Mile condo  over the preceding 6 months was the same at $527,500  – this being for a 1656 square foot 2 bedroom 2 bathroom unit.

It is also useful to look at median sales prices by bedroom over the last 6 months which we do below.

Ocean Riviera Condos
Median Sales Prices

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

BEDS / BATHS LA SP$
Median 2 / 2 1,638 $527,500

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

  • There have been no 1 Bedroom Riviera Galt Ocean Mile condos sold over the last 6 months based on MLS records – In the last post when 1 bedroom units were sol the median sales price for 1 Bedroom Riviera condos sold over the preceding 6 months was $286,000 – this being for a 1 Bedroom 1 Bathroom 1076 square foot unit with a sales price to square foot price of $266.00. 
  • 2 Bedroom Riviera  Galt Ocean Mile condos sold over the last 6 months has been $527,500 – this being for a 3 Bedroom 2 Bathroom 1638 square foot unit with a list price to square foot price of $323.00.  In our last post the median for 2 Bedroom Riviera condos sold was much higher at $635,000 – this being for a 3 Bedroom 2 Bathroom 2117 square foot unit with a list price to square foot price of $300.00.

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 $214.00
Max $383.00
Avg $311.00
Median $323.00

We can see from this report that the median sales price to square foot price paid for a Riviera Galt Ocean Mile condo sold over the last 6 months has been $290.00

We can also see that the highest square foot price paid has been $383.00

% Sales to List Price

An important real estate indicator is how much  buyers are paying for Riviera Galt Ocean Mile condos for sale – 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 94%
Avg 93%
Median 93%

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 93% – this is down from 94% as in our last post! 

This means if the condo is listed for sale for $500,000 – then based on the median MLS prices it could be expected to sell for 93% of its list price or $465,000!

Days on Market

Days on market for Riviera Galt Ocean Mile condos for sale 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 44
Max 462
Avg 180
Median 106

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 106 days or just over 15 weeks – this is down from 124 days 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.

Pool views Riviera Galt Ocean Mile condo for sale Ocean Riviera 3550 Galt Ocean Drive
Pool views Riviera Galt Ocean Mile condo for sale Ocean Riviera 3550 Galt Ocean Drive

Ocean Riviera
Condo Sales Itemized

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

BEDS / BATHS LA SP$
Unit 1601 2 / 2 1,620 $620,000
Unit 1001 2 / 2 1,620 $590,000
Unit 1906 2 / 2 1,656 $465,000
Unit 206 2 / 2 1,656 $355,000

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 1601 a 2 bedroom 2 bathroom condo which sold for $620,000!

Unit 1601 sold for 92% of list price and had 162 days on market or just under 6 months!

Kevin Wirth Realtor outside Galt Ocean Mile condominiums

My Thoughts / Summary

Riviera Galt Ocean Mile condos are units in a great mid century oceanfront complex set right on the beach here on Galt Mile Fort Lauderdale.

Currently we have a nice range of units for sale with 5 condos for sale – a mix of 1, 2 & 3 Bedroom Units! 

There have been 4 sales over the last 6 months – down from 6 sales as in our last post!

I hope you have enjoyed my post on Ocean Riviera
By Kevin Wirth Realtor

This statistical report on comparable Ocean Riviera properties includes listing content from the MLS compilation and statistical MLS data – this data is not verified for authenticity or accuracy and may not reflect all real estate activity in the market.

This report is based on information which is the © 2020 Realtors of the Palm Beaches and Greater Fort Lauderdale Multiple Listing Service Inc.