View Riviera Galt Ocean Mile condo for sale -3550 Galt Ocean Dr, Fort Lauderdale, FL 33308

Riviera Condos

Ocean Riviera
Galt Ocean Mile Condos

Welcome to our December 2017 / January 2018 post on Ocean Riviera Galt Ocean Mile condos for sale Fort Lauderdale – also known 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.

Search Ocean Riviera Condos 

 

There are 8 condos currently for sale in this great direct oceanfront complex – 4 of these are new listings!

There have been 6 sales 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 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 $339,900 – $799,000

Pricing Guide

  • Median List Price $479,000
    – 2 bedroom 2 bathroom unit

Median Sales Prices

  • Median Sales Price $365,000
    – 2 bedroom 2 bathroom unit
  • Sales Price to Square Foot Price $253.00
  • Median Sales to List Price 96%
  • Days on Market 63 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 8 x Fort Lauderdale oceranfront condos for sale in the Ocean Riviera Fort Lauderdale –the number of condos for sale in up from our last post!

In our last post on Riviera Condos for Sale for October / November 2017 there were 5 units for sale!

Our market analysis report for these units is presented below:

BEDS / BATHS LA LP$
Min 1 / 1 1076 $339,900
Max 2 / 2 1656 $799,000
Avg 2 / 2 1490 $492,088
Median 2 / 2 1615 $479,000

We can see from the market report that the median price for a unit currently for sale is $479,000  – this being based on a 2 bedroom 2 bathroom unit of 1615 square feet with a list price to square foot price of $311.00 – the median is down from our last post!

In our last post the median price for a unit for sale was $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

We can also see from this post that the highest priced unit is offered for sales for $799,000 and the lowest priced unit is offered for sale for $339,900!

View Ocean Riviera Condominium - 3550 Galt Ocean Drive Fort Lauderdale
View Ocean Riviera Condominium – 3550 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 $283.00
Max $330.00
Avg $307.00
Median $311.00

What we can see from this report is the spread of prices from $283.00 – $330.00 with the median at $311.00 per square foot.

In our last post the median was the same at $311.00 per square foot!

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 Galt Ocean Mile.

BEDS / BATHS LA LP$ LP$/SqFt
1 / 1 1076 $347,450 $323.00
2 / 2 1656 $502,000 $310.00

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

  • 1 Bedroom Ocean Riviera condos for sale is $347,450 – this being for a 1 Bedroom 1 Bathroom 1076 square foot unit with a list price to square foot price of $323.00 – There were no 1 bedroom Ocean Riviera condos for sale is our last post – however when there were 1 bedroom units for sale the median was almost $100,000 less at $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 $502,000 – this being for a 2 Bedroom 2 Bathroom 1656 square foot unit with a list price to square foot price of $310.00.  In our last post the median for 2 Bedroom Ocean Riviera condos for sale was higher at $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.
View Galt Ocean Mile condo just listed for sale in Riviera - Unit 804
View Galt Ocean Mile condo just listed for sale in Riviera – Unit 804

Ocean Riviera
New Condo Listings

There have been 4 new listings of a Ocean Riviera Galt Ocean Mile condos for sale in the last 30 days – 2 x 2 bedroom units and 2 x 1 bedroom units!

In our last post there was just 1 new listing of a Riviera condo for sale – this being unit 1801 a 2  bedroom Riviera condo which was listed for sale for $800,000 – this unit is a 2 bedroom 2 bathroom 1620 square foot condo with a list price to square foot price of $494.00

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

CONDO BEDS / BATHS LA LP$
Unit 1601 2 / 2 1656 $799,000
Unit 807 2 / 2 1656 $469,000
Unit 804 1 / 1 1076 $355,000
Unit 504 1 / 1 1076 $339,900

We can see from this report that:

Unit 1601 a 2 bedroom Ocean Riviera condo has just been listed for sale for $799,000this 2 bedroom 2 bathroom 1656 square foot condo has a list price to square foot price of $482.00

Unit 807 a 2 bedroom Ocean Riviera condo has just been listed for sale for $469,000this 2 bedroom 2 bathroom 1656 square foot condo has a list price to square foot price of $283.00

Unit 804 a 1 bedroom Ocean Riviera condo has just been listed for sale for $355,000this 1 bedroom 1 bathroom 1076 square foot condo has a list price to square foot price of $330.00

Unit 504 a 1 bedroom Ocean Riviera condo has just been listed for sale for $339,900this 1 bedroom 1 bathroom 1076 square foot condo has a list price to square foot price of $316.00

 


Kevin Wirth Fort Lauderdale Realtor

Buying / Selling?
Call Me Today!

Kevin Wirth P.A.  – Realtor
Galt Ocean Mile Specialist
954-459-0337

Click here to email me now

Search Galt Ocean Mile Condos 
View Galt Ocean Mile New Listings

View from the Ocean Riviera Galt Ocean Mile condo currently pending sale!
View from the Ocean Riviera Galt Ocean Mile condo currently pending sale!

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 is currently just 1 unit pending sale here in Riviera 

In our last post there were 3 units pending sale – Unit 1406, Unit 1107 and Unit 303!

Our market summary report for this unit is presented below:

BEDS / BATHS LA LP$ LP$/SqFt
1 / 1 1076 $244,900 $228.00


We can see from this report that Unit 303 a 1  bedroom Riviera condo listed for sale for $244,900 is now pending sale 
 – this condo is 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 has a South East exposure and offers great ocean and pool views from the unit and its spacious balcony.

The condo has impact windows throughout and washer and dryer too! 

View Riviera Unit 1406 recently sold Galt Ocean Mile Fort Lauderdale
View Riviera Unit 1406 recently sold Galt Ocean Mile Fort Lauderdale

Ocean Riviera
Sales Last 6 Months

There have been 6 sales of Ocean Riviera Galt Ocean Mile condos in the last 6 months – the number of sale is down from 8 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 $481,000
Avg 1 / 1 1352 $353,000
Median 1 / 1 1325 $365,000

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 $353,000 – this being for a 1352 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 $365,000  – this being for a 1325 square foot 1 bedroom 1 bathroom unit.

In our last post the median the median sales price for a condo sold in Riviera over the preceding 6 months was $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 Riviera Galt Ocean Mile condos sold over the last 6 months!

BEDS / BATHS LA SP$ SP$/SqFt
1 / 1 1076 $250,000 $232.00
2 / 2 1656 $415,000 $263.00

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

  • 1 Bedroom Ocean Riviera condos sold is $250,000 – this being for a 1 Bedroom 1 Bathroom 1076 square foot unit with a sales price to square foot price of $232.00.  In our last post the median for 1 Bedroom Ocean Riviera condos sold was $25,000 higher 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 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 $260.00
Median $253.00

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 $253.00 – down from $260.00 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 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 100%
Avg 96%
Median 96%

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 96% – up from our last 2 posts!

In our last post the median sales price to list price was 95% and in our prior post it 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 96% of its list price or $432,000!

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 7
Max 393
Avg 106
Median 63

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 63 days or just over 2 months!

It is important to note that  this is well down from 295 days or just under 10 months just a few months ago!

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 1406 2 / 2 1656 $481,000
Unit 802 2 / 2 1575 $415,000
Unit 1107 2 / 2 1656 $400,000
Unit 904 1 / 1 1076 $330,000
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 1406 a 2 bedroom 2 bathroom condo which sold for $481,000!

Unit 1406 sold for 100% of list price and had 79 days on market!

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.

Sales activity over the last 6 months has really picked up with 6 units sold in this post and 8 units sold in our last post…

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 just over 2 months!

Sales price to list price is up at 96% – which is another really great result!

These are very encouraging and positive indicators for Galt Ocean Mile condos here in Riviera!

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