Oceans views from one of the Southpoint condos for sale here in Fort Lauderdale

Southpoint Condos

Southpoint Condos
Fort Lauderdale

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

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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 21 x Fort Lauderdale condos for sale in Southpoint on Galt Ocean Mile – 5 of which is are new listings.

There have been 9 closed sales in the complex in the last 6 months.

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 $354,900 – $900,000
  • Median List Price $570,000
     – for a 2 bedroom 2 bathroom unit

Median Sales Prices

  • Sales Price last 6 Months $440,000
    – for a 2 bedroom 2 bathroom unit
  • Sales Price to List Price 97%
  • Days on Market 37 Days
Views from a 2 bedroom condo for sale here in Southpoint
Views from a 2 bedroom condo for sale here in Southpoint

Southpoint Condos for Sale
Market Report

The following market report is for the 21 x Fort Lauderdale condos for sale here in Southpoint / South Point on Galt Ocean Mile.

It is important to note that in our last 2 posts including our post for December 2015 / January 2016  there were just 10 condos for sale here in Southpoint!

$$  Beds/Baths SF/FF List Price
High 3 / 2 2,112 $900,000
Low 1 / 1 1,265 $354,900
Avg 2 / 2 1,737 $581,676
Med 2 / 2 1,747 $570,000


We can see from the market report on units for sale that the median price for a unit is the median price $570,000 – this being for a 2 bedroom 2 bathroom unit of 1747 square feet.

In our last post the median price for a Southpoint condo for sale was $514,450 – this being for a 2 bedroom 2 bathroom unit of 1803 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 $331.00 – up from $320.00 in our last post and $292.00 per square foot as in our prior post!

View of the two towers of Southpoint here on Galt Ocean Mile
View of the two towers of Southpoint here on Galt Ocean Mile

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 $354,900 $281
2 / 2 1,747 $570,000 $337
3 / 2 2,100 $900,000 $428

 

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

  • 1 bedroom condos for sale is $354,900this being for a 1 bedroom 1 bathroom 1265 square foot unit with a list price to square foot price of $281.00
  • 2 bedroom condos for sale is $570,000 this being for a 2 bedroom 2 bathroom 1747 square foot unit with a list price to square foot price of $337.00
  • 3 bedroom condos for sale is $900,000this being for a 3 bedroom 2 bathroom 2100 square foot unit with a list price to square foot price of $428.00

Kevin Wirth Fort Lauderdale Realtor

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Kevin Wirth – Realtor
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Lovely views from a condo just listed for sale in Southpoint
Lovely views from a condo just listed for sale in Southpoint

Southpoint Condos
New Listings

There have been 5 new listing of a Southpoint condos for sale here in Fort Lauderdale over the last 30 days – this is up from 1 new listing in our last post.

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

$$  Beds/Baths SF/FF List Price
High 2 / 2 1,662 $695,000
Low 1 / 1 1,265 $354,900
Avg 2 / 2 1,515 $551,780
Med 2 / 2 1,550 $570,000


We can see from this report that the median price for a new listing here in Southpoint is $570,000 –
this being for a 2 bedroom 2 bathroom unit of 1550 square feet with a list price to square foot price of $348.00

Views from a 2 bedroom unit sold for over $500,000 in the last 6 months
Views from a 2 bedroom unit sold for over $500,000 in the last 6 months

Southpoint Condos
Pending Sales

There are currently no units pending sale here in Southpoint – this is down from 3 units pending sale in our last post!  

Southpoint Condo Sales
Last 6 Months

There has been 9 sales of Fort Lauderdale condos here in South Point  over the last 6 Months – this is up from 7 sales in our last post!

The market analysis report for these units is presented below.

 $$ Beds/Baths SF/FF Sale Price
High 3 / 2 2,112 $730,000
Low 1 / 1 1,153 $320,000
Avg 2 / 2 1,530 $456,667
Med 2 / 2 1,420 $440,000


We can see from this report that the median sales price for a Fort Lauderdale condo for sale here in Southpoint has been $440,000.

It is important to note that median sales prices are down this month at $440,000.

  • In our post for December / January 2016 the median sales price for a unit over the preceding 6 months here in Southpoint was $495,000
  • In our post for November / December 2015 the median sales price for a unit over the preceding 6 months here in Southpoint was $455,000
  • In our post for September / October 2015 the median sales price for a unit over the preceding 6 months here in Southpoint was $407,500

The median sales prices in this report, our last reports are all based on a 2 bedroom 2 bathroom units

Beach and Ocean views from Southpoint Condominium
Beach and Ocean views from Southpoint Condominium

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 $331,250 $263
2 / 2 1,661 $495,000 $296
3 / 2 1,985 $652,500 $332

We can from this report that:

  • the median sales price for a 1 bedroom unit has been $331,250 – this being for a 1265 square foot unit with a sales price to square foot price of $263.00 – In our last post the median  sales price for a 1 bedroom unit was slightly lower at $330,000 – this being for a 1209 square foot unit with a sales price to square foot price of $274.00
  • the median sales price for a 2 bedroom unit has been $495,000 – this being for a 1661 square foot unit with a sales price to square foot price of $296.00 – In our last post the median sales price for a 2 bedroom unit was the same at $495,000 – this being for a 1704 square foot unit with a sales price to square foot price of $275.00
  • the median sales price for a 3 bedroom unit has been $652,500 – this being for a 1985 square foot unit with a list price to square foot price of $332.00 – This is the same as in our last post!

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 $393
Low $253
Avg $291
Med $276

We can see from this report that the average price paid per square foot for a unit here in Southpoint has been $291.00 per square foot.

More important however is the median sales price to square foot price at $276.00 – down from $284.00 in our last post!

Also note the highest sq ft price paid over the last 6 months at $393.00 

% 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 96%
Med 97%


We can see from this report that the median sales price to list price for Fort Lauderdale condo here in Southpoint  has been 97% – this is up slightly from 96% in our last 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 97% of that amount or $533,500 – 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 83
Med 37

We can see from this report that the average days on market for a Fort Lauderdale condo for Sale in Southpoint is 83 days.

More importantly is the median days on market at 37 days or around 5 weeks!

37 days is a strong indicator of demand for Fort Lauderdale condos for sale in this Galt Ocean Mile condominium!

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.

The building and units have undergone extensive rennovations and now the complex is one of the “jewels” of Fort Lauderdale!

Currently we have a large number of Southpoint condos for sale.

With prices having risen over recent months, our sales activity is a little a sluggish given the higher prices.

I am confident however that sales activity will pick up over time as more and more agents and buyers become aware of all the renovations this complex has undergone and begin to appreciate the” real value” units in this great complex offer.

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

Kevin Wirth Fort Lauderdale Realtor