Housing Market Statistics For St. Cloud Florida
Housing Market Statistics For St. Cloud Florida InSeptember
In Episode 2 of Discover St. Cloud Florida, we wanted to provide youwith some housing market statistics. Your host will be JeanineCorcoran, broker of Corcoran Connect. Jeanine will be joinedby Kristin Macari owner of Studio Nine 13, a video productioncompany and a realtor with Corcoran Connect.
Kristin stated the past two years, 2020 and 2021, it has beenabsolutely insane but feels the market this year has been evencrazier. So, she asked Jeanine to talk about what's going on inthe housing market in St. Cloud, Florida?
Jeanine pulled stats for September real estate transactions andbefore getting into those stats, she asked Kristin this question.How many houses do you think sold for under $200K? The answer ifout of the 168 single-family homes sold in St. Cloud, FL inSeptember, only 7 homes were under $200K.
The lowest square foot home, 608 sq. ft. was listed at $109K andsold for $85K. It was a 2-bedroom, one-bathroom home. The highestsquare footage home, 3,100 sq. ft. sold for $750K and was a4-bedroom, 3-bathroom home.
What About Parcels Of Land For Sale In Saint Cloud,FL?
Jeanine then moved on to parcels of land for sale. She feels that thissegment in the Saint Cloud real estate market will be the next hotcommodity. There were 19 parcels of land that were sold inSeptember. The lowest parcel of land sold was for $25K and it was 1acre. That parcel is east of St. Cloud past Harmony.
The largest parcel of land sold in September was for 268 acresof land with a cost of $22.5M and the deal was in cash. This parcelof land was off Hickory Tree Road in Saint Cloud. Out of the 19parcels of land sold, 16 of them were in cash, 2 were conventionaland one was seller financing. Land will continue to pique theinterest of investors in St. Cloud as there is only so much left topurchase.
Jeanine went on to talk about the hot real estate market and howmuch longer the low inventory of home for sale will continue. Shementioned she had talked to her sister, Barbara Corcoran who is arenown real estate mogul and star of Shark Tank about the hotmarket. Barbara feels it will stay hot for another year 12-18months.
Will The St. Cloud Real Estate Market Cool Off AnytimeSoon?
Jeanine continued, and asked if the real estate market willflatten out? Of course, it will at some point but not anytime soon.She explained that in a healthy real estate market, there will be5-6 months’ worth of inventory. Right now, in this hotmarket, there are only 2 months of inventory and that represents aseller’s market.
Jeanine gave a tip she learned from attending a recent Tom Ferryevent. For those buyers that keep looking and putting in offers,think about going above your price range and finding the home thathas been on the market for 60 days. Because if it's been on for60 days, you know they're going to get ready to lower theirprice.
And when they lower the price and get in that right range, andeveryone looks. So, look above your price range, and look for theones that have been sitting there for a while. Also, don’t befooled by pictures. Some real estate companies still let theiragents take cell phone pictures which don’t do the propertyfor sale any justice. And, sometimes, they miss the best attributesof the home and property that the potential buyer is lookingfor.
Another tip from Jeanine was to get on a foreclosure list. Reachout to Corcoran Connect if you have an interest here,they’d be happy to add you. Opportunities pop up on this listwhere homes can be flipped, and good money can be made.
Single Family Homes Sold In Osceola County ForAugust 2021
A final stat Jeanine shared was for single-family homes sold inOsceola County, Florida for the month of August 2021 as Septembernumbers are not out yet. 693 homes were sold in August 2021compared to 640 last year. Active inventory last year was 1381which was low and this year it is 687 which is really low. Theaverage median days on the market is between 7-21 days and theaverage months' supply this year is one month whereas last yearwas 2.7 months.
We hope you enjoyed these housing market statistics for St.Cloud on our 2nd episode of Discover St. Cloud Floridapodcast. We’re going to be doing this on a weekly basis,covering different things throughout the month. We’ll be yourresource for keeping you in the loop on different events, storiesand real estate happenings in Saint Cloud, Florida!