It is a new year! 2023 was an interesting year for real estate nationwide. How did the Fort Lauderdale Real Estate Market close out in December 2023?

December 2023 real estate statistics have been released!

Fort Lauderdale Area Reports

Single Family Homes

Condominium & Townhouses

Commonly asked questions while reviewing the reports:

What is the difference between “Median Sales Price” and “Average Sales Price”?

Median Sales Price | Price of the “”middle”” property sold -an equal number of sales were above and below this price.

Average Sales Price | Average sales price for all properties sold.

What does “Absorption Rate” mean?

Absorption Rate | Looks at the past year’s monthly supply of inventory. In a normal market there should be a 6 month supply. The higher the rate above 6 the more aggressive a seller has to be with the competition; price and having a picture perfect property.

Single Family Home Area Report listed first, Condo/Townhouses listed second:

2024 is already looking to be a year of opportunity with the interest rates lowering and sellers increasingly listing their homes. Please contact me if you would like to be automatically sent updated area market reports for Fort Lauderdale or another SE Florida city. I am here to help.

Let’s start working together!

Annette Dammeyer, REALTOR

Coldwell Banker Realty

901 E Las Olas Blvd STE 101, Fort Lauderdale, FL 33301

808.747.3686

Annette.Dammeyer@cbrealty.com

www.AnnetteDammeyer.com

SL 3535792

Selling to Downsize or Pay for Senior Care?

This is a follow-up to my last blog titled Senior Housing in Florida – Sell or Stay?

Are you a senior considering selling your property to downsize or pay for long term care? Are you helping your parent with this decision? In an effort to continue to provide resources to our community, here are additional sites to help inform and assist seniors and their families when deciding to sell a home.

The majority of seniors will need to make a decision on “aging in place” or selling their property to downsize, moving to a retirement community or into assisted living. There are many resources to aid in this decision and to help our senior community make the decision that best fits their needs.

My previous blog, Senior Housing in Florida – Sell or Stay? included a comprehensive list of resources for seniors. Since then, I have had a few additional resources shared with me for seniors in our community preparing to take the next transactional steps in their housing.

Downsizing?

Oscar Hernandez, Outreach Coordinator with Retireguide.com shared their recently published step-by-step guide to downsizing for seniors or those working towards retirement. He stated, “Here we cover everything from finances and moving logistics to coping with the emotions that come from parting with a family home.” You can access their guide here:

https://www.retireguide.com/guides/downsizing-for-retirement

Selling to Pay for Senior Care?

Mary Williams, Community Outreach and Senior Advocate with Caring.com also provided a new resource that is a guide for seniors and their families who are selling a home to pay for senior care. You can access the information here:

https://www.payingforseniorcare.com/selling-a-home-to-pay-for-senior-care

Elder Affairs Florida also provides valuable resources on housing and other senior programs and assistance.

Elder Affairs Florida’s Mission Statement is

To promote the well-being, safety, and independence of Florida’s seniors, their families, and caregivers

Elder Affairs Florida’s Vision:

For all Floridians to live well and age well

Link:

Housing

As I have stated before, supporting our seniors should be a top priority. Seniors contribute so much to their communities. They shop, they use services (which employ people), and they pay taxes. They also volunteer; in fact, many organizations would be hard pressed to function without their older volunteers. Seniors also give generously: they make more charitable donations per capita than any other age group.