Views from a 2 bedroom condo for sale here in Southpoint

Southpoint Condos

Southpoint Condos
Fort Lauderdale

Welcome to our May / June 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 – 2 of which is are new listings.

There have been 5 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 $340,000 – $850,000
  • 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 98%
  • Days on Market 48 Days

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.

In our last post for Feb / March 2016 there were also 21 units for sale!

 $$ Beds/Baths SF/FF List Price
High 3 / 2 2,112 $850,000
Low 1 / 1 1,662 $340,000
Avg 2 / 2 1,781 $600,110
Med 2 / 2 1,662 $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 1662 square feet.

In our last post the median price for a Southpoint condo for sale was  also $570,000 – this being for a slightly larger 2 bedroom 2 bathroom unit of 1747 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 $342.00 – up from $331.00 in our last post and $320.00 per square foot as in our prior post!

View Southpoint condominium Galt Ocean Mile in Fort Lauderdale
View Southpoint condominium Galt Ocean Mile in Fort Lauderdale

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 $344
2 / 2 1,662 $570,000 $335
3 / 2 2,112 $849,900 $402

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 $344.00.  In our last post the median for 1 bedroom condos for sale was higher at $354,900 – this 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 1662 square foot unit with a list price to square foot price of $335.00.   In our last post the median for 2 bedroom condos for sale was the same at $570,000 – this for a slightly larger 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 $849,000this being for a 3 bedroom 2 bathroom 2112 square foot unit with a list price to square foot price of $402.00.   In our last post the median for 3 bedroom condos for sale was over $50,000 higher at $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

Buying / Selling?
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Kevin Wirth – Realtor
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Search Galt Ocean Mile Condos for Sale
View Galt Ocean Mile New Listings

 

View of Penthouse 4N just listed for sale in Southpoint
View of Penthouse 4N 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 down from 5 new listings 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 $599,900
Low 2 / 2 1,662 $499,000
Med 2 / 2 1,662 $549,450


We can see from this report that the median price for a new listing here in Southpoint is $549,450 –
this being for a 2 bedroom 2 bathroom unit of 1662 square feet with a list price to square foot price of $300.00

In our last post the median price for a new listing here in Southpoint was $570,000 – this being for a slightly smaller 2 bedroom 2 bathroom unit of 1550 square feet with a higher list price to square foot price of $348.00!

View from a condo pending sale here in Southpoint 901S
View from a Fort Lauderdale condo pending sale here in Southpoint 901S

Southpoint Condos
Pending Sales

There are currently 6 units pending sale here in Southpoint – this is well up from no units pending sale as in our last post!  

The market analysis report for these units is presented below:

 $$ Beds/Baths SF/FF List Price
High 2 / 2 1,859 $619,900
Low 2 / 2 1,662 $369,000
Avg 2 / 2 1,809 $470,317
Med 2 / 2 1,859 $452,000

 

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 $452,000this being for a 2 bedroom 2 bathroom unit of 1859 square feet with a list price to square foot price of $245.00

It is important to note that out of the 6 units currently pending sale only 1 unit is listed above $500,000 and this is unit 901S – a “direct” oceanfront unit in the 1 stack.

Southpoint Condo Sales
Last 6 Months

There has been 5 sales of Fort Lauderdale condos here in South Point  over the last 6 Months – this is well down from 9 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 $575,000
Low 1 / 1 1,265 $322,500
Avg 2 / 2 1,621 $449,400
Med 2 / 2 1,575 $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 –
this is the same as in our last post!

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 $575,000 – this being for a 3 bedroom 2 bathroom unit!

View of Galt Ocean Mile beach from Southpoint condominium
View of Galt Ocean Mile beach 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 $332,500 $263
2 / 2 1,733 $503,500 $290
3 / 2 2,112 $575,000 $272

 

We can from this report that:

  • the median sales price for a 1 bedroom unit has been $332,500 – 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 ever so slightly lower at $331,250 – 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 $503,500 – this being for a 1733 square foot unit with a sales price to square foot price of $290.00 – In our last post the median sales price for a 2 bedroom unit was lower at $495,000 – this being for a 1661 square foot unit with a sales price to square foot price of $296.00
  • the median sales price for a 3 bedroom unit has been $575,000 – this being for a 2112 square foot unit with a list price to square foot price of $272.00 – In our last post the median sales price for a 3 bedroom unit was over $77,000 higher at $652,500 – this being for a 1985 square foot unit with a list price to square foot price of $332.00

In the last 6 months there have only been 2 sales of units that sold for over $500,000 – 1 x 2 bedroom and 1 x 3 bedroom.

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 $300
Low $255
Avg $275
Med $272

We can see from this report that the average price paid per square foot for a unit here in Southpoint has been $275.00 per square foot – down from $291.00 per square foot in our last post!

More important however is the median sales price to square foot price at $272.00 – down from $276.00 in our last post and $284.00 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 96%
Med 98%


We can see from this report that the median sales price to list price for Fort Lauderdale condo here in Southpoint  has been 98%this is up slightly from 97% in our last post and 96% 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 98% of that amount or $539,000 – 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 88
Med 48

We can see from this report that the average days on market for a Fort Lauderdale condo for Sale in Southpoint is 88 days.

More importantly is the median days on market at 48 daysup from 37 days 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 units with 19 for sale!

This complex has undergone extensive renovations and is now one of the premier complexes here on Galt Ocean Mile.

So if your looking for 2 bedroom oceanfront condos – then I highly recommend views units for sale here at Southpoint.

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

Kevin Wirth Fort Lauderdale Realtor