View from one of the Southpoint condos for sale Fort Lauderdale

Southpoint Condos

Southpoint Condos
Fort Lauderdale

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

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

 

Search All Southpoint Condos for Sale

 

There are currently 23 x Fort Lauderdale condos for sale in Southpoint on Galt Ocean Mile – 4 of which is are new listings.

There have been 11 closed sales in the complex in the last 6 months and 3 units are pending sale (the same numbers as in our last post).

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 $569,000
     – for a 2 bedroom 2 bathroom unit

Median Sales Prices

  • Sales Price last 6 Months $422,500
    – for a 2 bedroom 2 bathroom unit
  • Sales Price to List Price 93%
  • Days on Market 89 Days
Pool views from Southpoint condominium here on Galt Ocean Mile
Pool views from Southpoint condominium here on Galt Ocean Mile

Southpoint Condos for Sale
Market Report

The following market report is for the 23 x Fort Lauderdale condos for sale here in Southpoint / South Point on Galt Ocean Mile.

In our last post for August / September 2016 there were 20 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 1,704 $571,730
Med 2 / 2 1,662 $569,000


We can see from the market report on units for sale that the median price for a unit is the median price $569,000 – 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 $577,250 – 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 at $336.00 which is up from $329.00 in our last post. 

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 $359,500 $284
2 / 2 1,662 $569,500 $336
3 / 2 2,112 $799,000 $378

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

  • 1 bedroom condos for sale is $359,500this being for a 1 bedroom 1 bathroom 1265 square foot unit with a list price to square foot price of $284.00.  In our last post the median for 1 bedroom condos for sale was lower at $340,000 – this being for a 1 bedroom 1 bathroom 1265 square foot unit with a list price to square foot price of $269.00.
  • 2 bedroom condos for sale is $569,500 – this being for a 2 bedroom 2 bathroom 1662 square foot unit with a list price to square foot price of $336.00.   In our last post the median for 2 bedroom condos for sale was higher at $577,250 – this being for a 2 bedroom 2 bathroom 1662 square foot unit with a lower list price to square foot price of $329.00.
  • 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 the same at $799,000 – this being for a 3 bedroom 2 bathroom 2112 square foot unit with a list price to square foot price of $378.00.

Kevin Wirth Fort Lauderdale Realtor

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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 Fort Lauderdale oceanfront condo just listed for sale in Southpoint
View Fort Lauderdale oceanfront condo just listed for sale in Southpoint

Southpoint Condos
New Listings

There have been 4 new listings of Southpoint condos for sale here in Fort Lauderdale over the last 30 days all 2 bedroom units – this is up from 2 new listings in our prior post.

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

$$  Beds/Baths SF/FF List Price
High 2 / 2 1,891 $635,000
Low 2 / 2 1,662 $450,000
Avg 2 / 2 1,738 $509,000
Med 2 / 2 1,662 $475,500


We can see from this report that the median price for a new listing here in Southpoint is $475,500 –
this being for a 2 bedroom 2 bathroom unit of 1662 square feet with a list price to square foot price of $300.00

We can also see from this report that the most expensive 2 bedroom unit just listed for sale – was listed for $635,000 and the least expensive 2 bedroom unit listed for sale was listed for sale for $450,000.

View from a condo pending sale here in Southpoint - 1509N
View from a 2 Bedroom condo pending sale here in Southpoint – 1509N

Southpoint Condos
Pending Sales

There are currently 3 units pending sale here in Southpoint – this is the same number of 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 1,891 $605,000
Low 2 / 2 1,859 $499,000
Avg 2 / 2 1,880 $553,000
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 – this is the same as in our last post!

Pending Sales
Condo Details

Here is our summary report showing the details for each of the 3 condos currently pending sale here in Southpoint

 Condo Beds/Baths SF/FF List Price
Unit1201S 2 / 2 1,891 $605,000
Unit2101S 2 / 2 1,891 $555,000
Unit1509N 2 / 2 1,859 $499,000

We can see from this report that

Southpoint Condo Unit 1201 South listed for sale for $605,000 is currently pending salethis 2 bedroom 2 bathroom 1891 square foot unit has a list price to square foot price of $320.00.  This condo offers breathtaking views, a renovated kitchen, with stainless steel appliances, granite counter tops and the unit has impact windows. 

Condo Unit 1201 South listed for sale for $605,000 is currently pending salethis 2 bedroom 2 bathroom 1891 square foot unit has a list price to square foot price of $320.00.  This unit is in totally original condition, so bring your best renovation ideas and be prepared to be wowed by the unobstructed east ocean views.

Condo Unit 1509 North listed for sale for $499,000 is currently pending salethis 2 bedroom 2 bathroom 1859 square foot unit has a list price to square foot price of $268.00.  No other Southpoint condo for sale has such an attractive price per square foot.  This condo is a large corner unit, new A/C unit, new washer/dryer, new hot water tank, new microwave unit.  The condo is a meticulously maintained corner unit with 19 windows that flood the unit with light.

View from a 3 bedroom condo recently sold here in Southpoint
View from a 3 bedroom condo recently sold here in Southpoint – Unit 320 S

Southpoint Condo Sales
Last 6 Months

There has been 11 sales of Fort Lauderdale condos here in South Point  over the last 6 Months – this is up slightly from 10 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 1,826 $468,409
Med 2 / 2 1,859 $422,500


We can see from this report that the median sales price for a Fort Lauderdale condo for sale here in Southpoint has been $422,500 –
this is down slightly from our last 2 posts!

In our last post the median sales price for a Fort Lauderdale condo sold here in Southpoint was $431,250

The median sales price in this report and our last 2 reports 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 $430,250 $235
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 the same at $325,000 – this being for a 1265 square foot unit with a sales price to square foot price of $257.00
  • the median sales price for a 2 bedroom unit has been $430,250 – this being for a 1859 square foot unit with a sales price to square foot price of $235.00 – In our last post the median sales price for a 2 bedroom unit was slightly higher at $431,250 – this being for a 1859 square foot unit with a sales price to square foot price of $240.00
  • 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 the same at $700,000 – this being for a 2114 square foot unit with a list price to square foot price of $331.00

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 $256
Med $235

We can see from this report that the average price paid per square foot for a unit here in Southpoint has been $235.00 per square foot.

It is important to note that this is down from $265.00 in our last post, $275.00 per square foot as per our prior post which in turn was down from $291.00 per square foot in our earlier post!

More important however is the median sales price to square foot price at $253.00 – the same as in our last 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 93%


We can see from this report that the median sales price to list price for Fort Lauderdale condo here in Southpoint  has been 93%

This is up from 90% 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 93% of that amount or $511,500 – 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 147
Med 89

We can see from this report that the average days on market for a Fort Lauderdale condo for Sale in Southpoint is 147 days – which is up a little from 142 days in our last post

More importantly is the median days on market at 89 days – which is also up a litle from 86 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.

Southpoint
Condo Sales Itemized

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

Condo  Beds/Baths SF/FF Sale Price
Unit 320S 3 / 2 2,114 $700,000
Unit 1901 2 / 2 1,891 $635,000
Unit 901S 2 / 2 1,891 $575,000
Unit PH4 2 / 2 1,662 $510,000
Unit 904N 2 / 2 1,662 $440,000
Unit 310S 2 / 2 1,859 $422,500
Unit 509N 2 / 2 1,859 $420,000
Unit 709N 2 / 2 1,859 $395,000
Unit 208N 2 / 2 1,659 $380,000
Unit 207S 2 / 2 1,662 $350,000
Unit1706N 1 / 1 1,265 $325,000

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 320 South a 3 bedroom condo which sold for $700,000.

This 3 bedroom 2 bathroom 2114 square foot unit has a sales price to square foot price of $331.00

This condo had 184 days on market!

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 20 units for sale.

Sales prices for condos here in Southpoint have been soft – a mixture of the effect of recent renovations combined with a higher inventory of units for sale. 

These 2 factors make now a great time to purchase – one of these fantastic units here on Galt Ocean Mile.

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

Kevin Wirth Fort Lauderdale Realtor