Views from one of the Soutpoint condos for sale here in Galt Ocean Mile in Fort Lauderdale

Southpoint Condos

Southpoint Condos
Fort Lauderdale

Welcome to our August / September 2016 post on Southpoint condos for sale here in Fort Lauderdale Florida.

Search All Southpoint Condos for Sale

Southpoint is a direct oceanfront condominium of two separate towers set right on the beachfront here in Galt Ocean Mile.

The condominium also has 2 separate postal addresses 3400 & 3410 Galt Ocean Drive here in Fort Lauderdale

There are currently 20 x Fort Lauderdale condos for sale in Southpoint on Galt Ocean Mile – 2 of which is are new listings.

There have been 10 closed sales in the complex in 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 for units over the last 6 months!

We also compare recent sales trends in Southpoint – Important information for both buyers and sellers!

Key Statistics for Buyers / Sellers

  • Prices from $340,000 – $850,000
  • Median List Price $577,250
     – for a 2 bedroom 2 bathroom unit

Median Sales Prices

  • Sales Price last 6 Months $431,250
    – for a 2 bedroom 2 bathroom unit
  • Sales Price to List Price 90%
  • Days on Market 86 Days
View of Southpoint condominium from Galt Ocean Mile
View of Southpoint condominium from Galt Ocean Mile

Southpoint Condos for Sale
Market Report

The following market report is for the 20 x Fort Lauderdale condos for sale here in Southpoint / South Point on Galt Ocean Mile.

In our last post for May / June 2016 there were 21 units for sale!

$$  Beds/Baths SF/FF List Price
High 3 / 2 2,112 $850,000
Low 1 / 1 1,265 $340,000
Avg 2 / 2 1,761 $594,195
Med 2 / 2 1,662 $577,250


We can see from the market report on units for sale that the median price for a unit is the median price $577,250 – this being for a 2 bedroom 2 bathroom unit of 1662 square feet.

In our last post the median price for a Southpoint condo for sale was $570,000 – this being for a 2 bedroom 2 bathroom unit of 1662 square feet.

It is also important to note that the median list price to square foot price for condos for sale here in Southpoint is $329.00 – which is down from $342.00 per square foot as in our prior post!

Pool views Fort Lauderdale oceanfront condo for sale here in Southpoint
Pool views Fort Lauderdale oceanfront condo for sale here in Southpoint

Southpoint Condos for Sale
Prices by Bedroom

Here is our market summary report showing median prices for Southpoint condos for sale by bedroom.

Beds/Baths SF/FF List Price LP$/SqFt
1 / 1 1,265 $340,000 $269
2 / 2 1,662 $577,250 $329
3 / 2 2,112 $799,000 $378

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

  • 1 bedroom condos for sale is $340,000this being for a 1 bedroom 1 bathroom 1265 square foot unit with a list price to square foot price of $269.00.  In our last post the median for 1 bedroom condos for sale was the same at $340,000 – this being for a 1 bedroom 1 bathroom 1265 square foot unit with a list price to square foot price of $344.00.
  • 2 bedroom condos for sale is $577,250 – this being for a 2 bedroom 2 bathroom 1662 square foot unit with a list price to square foot price of $329.00.   In our last post the median for 2 bedroom condos for sale was lower at $570,000 – this being for a 2 bedroom 2 bathroom 1662 square foot unit with a list price to square foot price of $335.00.
  • 3 bedroom condos for sale is $799,000this being for a 3 bedroom 2 bathroom 2112 square foot unit with a list price to square foot price of $378.00.   In our last post the median for 3 bedroom condos for sale was over $50,000 higher at $849,000 – this being for a 3 bedroom 2 bathroom 2112 square foot unit with a list price to square foot price of $402.00

Kevin Wirth Fort Lauderdale Realtor

Buying / Selling?
Call Me Today!

Kevin Wirth – Realtor
954-459-0337

Click here to email me now

Search Galt Ocean Mile Condos for Sale
View Galt Ocean Mile New Listings

 

Direct ocean views from this 3 bedroom condo just listed for sale in Southpoint
Direct ocean views from this 3 bedroom condo just listed for sale in Southpoint

Southpoint Condos
New Listings

There have been just 2 new listings of Southpoint condos for sale here in Fort Lauderdale over the last 30 days – this is the same as in our last post but is down from 5 new listings in our prior post.

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

 Condo Beds/Baths SF/FF List Price
Unit201N 3 / 2 2,112 $799,000
Unit1507S 2 / 2 1,658 $549,900


We can see from this report the details for both of these new listings:

  • Unit 201N a 3 bedroom unit has just been listed for sale for $799,000 this 3 bedroom 2 bathroom 2112 square foot unit has a list price to square foot price of $378.00
  • Unit 1507S a 2 bedroom unit has also just been listed for sale for $549,900this 2 bedroom 2 bathroom 1658 square foot unit has a list price to square foot price of $331.00
Look at the views from this oceanfront condo pending sale in Southpoint
Look at the views from this oceanfront condo pending sale in Southpoint

Southpoint Condos
Pending Sales

There are currently just 3 units pending sale here in Southpoint – this is down from 6 units in our last post!

The market analysis report for these units is presented below:

$$  Beds/Baths SF/FF List Price
High 2 / 2 1,891 $599,900
Low 2 / 2 1,891 $399,900
Avg 2 / 2 1,891 $518,267
Med 2 / 2 1,891 $555,000


We can see from this report that all the units currently pending sale are 2 bedroom units.

We can also see that the median price for condos currently pending sale here in Southpoint is $555,000this being for a 2 bedroom 2 bathroom unit of 1891 square feet with a list price to square foot price of $267.00

In our last post the median price for condos currently pending sale here in Southpoint was $452,000 – this being for a 2 bedroom 2 bathroom unit of 1859 square feet with a list price to square foot price of $245.00

Look at the views from this 2 bedroom unit recently sold here in Southpoint
Look at the views from this 2 bedroom unit recently sold here in Southpoint

Southpoint Condo Sales
Last 6 Months

There has been 10 sales of Fort Lauderdale condos here in South Point  over the last 6 Months – this is well up from 5 sales in our last post!

The market analysis report for these units is presented below.

$$  Beds/Baths SF/FF Sale Price
High 3 / 2 1,891 $700,000
Low 1 / 1 1,662 $325,000
Avg 2 / 2 1,836 $482,950
Med 2 / 2 1,859 $431,250


We can see from this report that the median sales price for a Fort Lauderdale condo for sale here in Southpoint has been $431,250 –
this is down slightly from our last post!

In our last post the median sales price for a Fort Lauderdale condo sold here in Southpoint was $440,000

The median sales price in this report and our last report is based on a 2 bedroom 2 bathroom unit.

Note: the highest price paid at $700,000 – this being for a 3 bedroom 2 bathroom unit!

Southpoint Condo Sales
Prices by Bedroom

Here are the median sales prices for condos sold here in Southpoint over the last 6 months by bedroom.

Beds/Baths SF/FF Sale Price SP$/SqFt
1 / 1 1,265 $325,000 $257
2 / 2 1,859 $431,250 $240
3 / 2 2,114 $700,000 $331

We can from this report that:

  • the median sales price for a 1 bedroom unit has been $325,000 – this being for a 1265 square foot unit with a sales price to square foot price of $257.00 – In our last post the median  sales price for a 1 bedroom unit was higher at $332,500 – this being for a 1265 square foot unit with a sales price to square foot price of $263.00
  • the median sales price for a 2 bedroom unit has been $431,250 – this being for a 1859 square foot unit with a sales price to square foot price of $240.00 – In our last post the median sales price for a 2 bedroom unit was higher at $503,500 – this being for a 1733 square foot unit with a sales price to square foot price of $290.00
  • the median sales price for a 3 bedroom unit has been $700,000 – this being for a 2114 square foot unit with a list price to square foot price of $331.00 – In our last post the median sales price for a 3 bedroom unit was much lower at $575,000 – this being for a 2112 square foot unit with a list price to square foot price of $272.00

Square Foot Prices
Condos Sold

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

$$  SP$/SqFt
High $336
Low $211
Avg $265
Med $253

We can see from this report that the average price paid per square foot for a unit here in Southpoint has been $265.00 per square foot.

It is important to note that this is down from $275.00 per square foot as per our last post which in turn was down from $291.00 per square foot in our prior post!

More important however is the median sales price to square foot price at $253.00

Again it is important to note that the median is down from $272.00 in our last post which in turn was down from $276.00 in our prior post!

% 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 Southpoint – 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 91%
Med 90%


We can see from this report that the median sales price to list price for Fort Lauderdale condo here in Southpoint  has been 90%

This is well down from 98% in our last post and 97% in our prior post!

This means if a Fort Lauderdale condo for sale here in Southpoint is listed at $550,000 – then based on median sales data the condo could be expected to sell for 90% of that amount or $495,000 – based on median MLS data!

Days on Market

Days on market for Condos for Sale in Southpoint 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 142
Med 86

We can see from this report that the average days on market for a Fort Lauderdale condo for Sale in Southpoint is 142 days – which is up from 88 days in our last post

More importantly is the median days on market at 86 days – which is also up from 48 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.

Kevin Wirth Realtor outside Galt Ocean Mile condominiums

My Thoughts / Summary

Southpoint is a great direct oceanfront complex here on Galt Ocean Mile in Fort Lauderdale.

Currently we have an excellent range of condos for sale – especially 2 bedroom 2 bathroom condos with 18 units for sale.

 

Southpoint over recent times has had a higher inventory of condos for sale – around twice as many units for sale as we usually see.

This in my mind is in large part due to the extensive renovations the complex has undergone – which delayed units coming onto the market.

These renovations have made this complex one of the best on Galt Ocean Mile and now is certainly a great time to buy!

I hope you have enjoyed my Post on Southpoint Condos Fort Lauderdale for Sale

Kevin Wirth Fort Lauderdale Realtor