View of one of The Commodore condos for sale here in Fort Lauderdale

Commodore Condos

The Commodore
Fort Lauderdale

Welcome to our February / March 2016 post on The Commodore condos for sale.

Search Commodore Condos for Sale

Fort Lauderdale condos for sale here in the Commodore offer direct oceanfront units set right on the beach here on the famous Galt Ocean Mile.

There are currently 9 condo units for sale in Commodore – 2 of which are new listings 

5 units are currently under contract and is pending sale.

4 units have been sold over 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 Commodore – Important information for both buyers and sellers!

Key Statistics for Buyers / Sellers
  • Prices from $310,000 – $1,595,000
  • Median List Price $549,900
     – for a 2 bedroom 2 bathroom unit

Median Sales Prices

  • Sales Price last 6 Months $394,000
    – for a 2 bedroom 2 bathroom unit
  • Median Sales to List Price 87%
  • Days on Market 34 Days
View of The Commodore Condominium here in Fort Lauderdale
View of The Commodore Condominium here in Fort Lauderdale

Commodore
Condos for Sale

The following market report is for the 9 x Fort Lauderdale condos for sale in Commodore here on Galt Ocean Mile

This is up from the 6 condos for sale as in our post for Dec / Jan 2016.

 $$ Beds/Baths SF/FF List Price
High 4 / 4 4,692 $1,595,000
Low 1 / 1 1,088 $310,000
Avg 2 / 2 2,055 $598,211
Med 2 / 2 1,743 $549,900


We can see from the market report on units for sale that the median price for a condo for sale in Commodore is $549,900.

The median price is based on a 2 bedroom 2 bathroom unit of 1743 square feet with a list price to square foot price of $296.00

  • In our post for December / January 2016 the median price for a condo for sale in Commodore was $432,000 – this also being for a 2 bedroom 2 bathroom unit!
  • In our post for November / December the median price for a condo for sale in Commodore was $521,500 – this also being for a 2 bedroom 2 bathroom unit!
  • In our post for September / October the median price for a condo for sale in Commodore was $458,950 – this also being for a 2 bedroom 2 bathroom unit!

Important to note are the swings in median prices for The Commodore condos for sale – from a low of $432,000 to a high this month of $549,900!

These swings reflect not only the stack of the unit but are heavily influenced by the condition of the unit – original, partially updated or updated!

View from an oceanfront condo for sale here in The Commodore
View from an oceanfront condo for sale here in The Commodore

Commodore Condos
Pricing Guide

Here are the median prices for The Commodore condos for sale here in Fort Lauderdale.

Beds/Baths SF/FF List Price LP$/SqFt
1 / 1 1,101 $310,000 $281
2 / 2 1,818 $549,900 $258
3 / 2 1,800 $599,000 $333
4 / 4 4,692 $1,595,000 $340

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

  • 1 Bedroom units for sale is $310,000this being for a 1 bedroom 1 bathroom unit of 1101 square feet with a list price to square foot price of $281.00 – In our last post the median for a 1 Bedroom unit for sale was higher at $324,500 – this being for a 1 bedroom 1 bathroom unit of 1101 square feet with a list price to square foot price of $295.00
  • 2 Bedroom units for sale is $549,900this being for a 2 bedroom 2 bathroom unit of 1818 square feet with a list price to square foot price of $258.00 – In our last post the median for a 2 Bedroom units for sale was higher at $650,000 – this being for a 2 bedroom 2 bathroom unit of 1687 square feet with a list price to square foot price of $323.00
  • 3 Bedroom units for sale is $599,000 – this being for a 3 bedroom 2 bathroom unit of 1800 square feet with a list price to square foot price of $333.00 – In our last post the median for a 3 Bedroom units for sale was lower at $495,000 – this being for a 3 bedroom 2 bathroom unit of 1653 square feet with a list price to square foot price of $308.00
  • 4 Bedroom units for sale is $1,595,000 – this being for a 4 bedroom 4 bathroom unit of 4692 square feet with a list price to square foot price of $340.00 – this is the same as in our last post!
Ocean views Fort Lauderdale condo just listed for sale in The Commodore
Ocean views Fort Lauderdale condo just listed for sale in The Commodore

The Commodore
New Condo Listings

There has been 2 new listings of condos for sale here in The Commodore in the last 30 days

The market summary report for this new listing is presented below

Condo  Beds/Baths SF/FF List Price
Unit1106 2 / 2 1,949 $600,000
Unit1504 1 / 1 1,088 $310,000


We can see from this report the data for both new listings:

  • Unit 1106 a 2 bedroom unit has just been listed for sale for $600,000this 2 bedroom 2 bathroom 1949 square foot unit has a list price to square foot price of $308.00.  This condo is a large North East corner unit with a direct ocean view. The condo has a garage parking space, a washer and dryer in the unit.  Nice features are the large rooms and bedrooms with walk-in closets!
  • Unit 1504 a 1 bedroom unit has just been listed for sale for $310,000 this 1 bedroom 1 bathroom 1088 square foot unit has a list price to square foot price of $285.00.  This condo is a “Beautiful” unit with ocean views.  The condo features: new impact windows and door.   There is tile throughout and a washer/dryer in the unit. A nice feature is the large balcony with great views. 

 

Kevin Wirth Fort Lauderdale Realtor

Buying / Selling?
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Kevin Wirth – Realtor
954-459-0337

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

 

Direct ocean views from a condo pending sale in The Commodore - Unit 704
Direct ocean views from a condo pending sale in The Commodore – Unit 704

The Commodore
Pending Sales

Currently there are 5 condos pending sale here in The Commodore.

The market analysis report for these units is presented below:

 $$ Beds/Baths SF/FF List Price
High 3 / 2 2,123 $799,000
Low 1 / 1 1,088 $295,000
Avg 2 / 2 1,610 $490,250
Med 2 / 2 1,619 $433,500


We can see from this report that the median price for a Commodore condo pending sale is $433,500 –
this being for a 2 bedroom 2 bathroom 1619 square foot unit with a list price to square foot price of $308.00

We can also see that the highest priced unit for sale s $799,000 and we can also see that the lowest priced unit is $295,000. 

View from a 3 bedroom condo recently sold here in The Commodore
View from a 3 bedroom condo recently sold here in The Commodore

The Commodore
Sales Last 6 Months

There have been just 4 closed sales here in the Commodore over the last 6 months – this is up from 3 sales as in our last post!

The market analysis report for these units is presented below.

$$  Beds/Baths SF/FF Sale Price
High 3 / 2 2,123 $635,000
Low 1 / 1 1,115 $305,000
Avg 2 / 2 1,624 $432,000
Med 2 / 2 1,635 $394,000


We can see from this report that the median price for a Fort Lauderdale condo sold here in the Commodore over the last 6 months has been $394,000
– this being for a 2 bedroom 2 bathroom 1635 square feet.

  • In our last post the median price for a condo sold here in the Commodore over the last 6 months was $408,000 – this being for a 2 bedroom 2 bathroom 1635 square feet.
  • In our earlier post the median price for a condo sold here in the Commodore over the last 6 months was $455,000 – this being for a 2 bedroom 2 bathroom 1702 square feet.
  • In our 2 prior posts the median price for a condo sold here in the Commodore over the last 6 months was also $547,500 – this being for a 2 bedroom 2 bathroom 1769 square feet.

It is very important to note that the median prices for units sold have been dropping from $547,500 to $394,000.

One of the reasons for this in my mind is the condition of the units being sold – a number of units have been in original condition and others are in real need of updating!

Commodore Condos
Sales Prices

Here are the median sales prices for The Commodore condos here in Fort Lauderdale over the last 6 months.

Beds/Baths SF/FF Sale Price SP$/SqFt
1 / 1 1,115 $305,000 $274
2 / 2 1,635 $394,000 $240
3 / 2 2,123 $635,000 $299

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

  • 1 Bedroom units has been $305,000this being for a 1 bedroom 1 bathroom unit of 1115 square feet with a sales price to square foot price of $274.00
  • 2 Bedroom units has been $394,000this being for a 2 bedroom 2 bathroom unit of 1635 square feet with a sales price to square foot price of $240.00
  • 3 Bedroom units has been $635,000 – this being for a 3 bedroom 2 bathroom unit of 2123 square feet with a sales price to square foot price of $299.00 

Square Foot Prices
Condos Sold

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

$$  SP$/SqFt
High $299
Low $274
Avg $286
Med $286


We can see from this report that the median sales price to square foot price paid for a The Commodore condo sold over the last 6 months has been $286.00 per square foot.

Important to note is that the median sales price to square foot price has been on the rise and is up $68.00 per sq ft or b over 30% from $218.00 in our post for April / May 2015!

% 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 The Commodore – 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 62%
Med 87%


We can see from this report that BOTH the average and median sales price to list price for Fort Lauderdale condo here in The Commodore  has been 87% – this is down from 95% in our last post!

This means if a Fort Lauderdale condo for sale here in The Commodore is listed at $400,000 – then based on median sales data the condo could be expected to sell for 87% of that amount or $348,000.

Days on Market

Days on market for Condos for Sale in The Commodore 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 67
Med 34

We can see from this report that the average days on market for a Fort Lauderdale condo for Sale in The Commodore is 67 days – well down from 103 days in our last post.

The median days on market is 34 days – which is well down from 84 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

The Commodore is a great building here in Fort Lauderdale – set right on the beach at Galt Ocean Mile.

It is important to note how recent sales trends have reflected lower and lower prices – a result in my mind of more and more older units / units in need of updating being sold.

The Commodore is still on of The Galt Ocean Mile condominiums that offers condos for sale that are “ripe” for refurbishment and “Savy” buyers are seeing this.

I hope you have enjoyed this post on Fort Lauderdale condos for sale here in the Commodore

By Kevin Wirth Realtor